Lucrative Off-Licence in Harwich

Harwich, Essex
REF: 03790

Asking Price:
£65,000
Annual Turnover:
£284,490
Annual Net Profit:
TBC
Featured
REF: 03790

Overview

Tenure:
Leasehold
Established:
2011
  • High street location
  • Large, versatile premises
  • Exceptionally high income
  • Huge potential
  • Possible flat conversion for rental or personal use

The business is an off-licence selling wine, beer and spirits as well as a small range of convenience products. Tobacco, confectionary, ice cream, slush puppy and lottery tickets are also sold.

It enjoys an extraordinarily high turnover thanks in part to a great location in the middle of the busy Dovercourt area of Harwich, Essex.

The business employs 5 part-time staff, all of whom offer a high level of personal service to customers, ensuring that the shop remains popular in the local community.

This, together with valuable word of mouth promotion and high footfall, ensures that the business has an incredibly high turnover of around £500,000 per year.

This is already impressive but it is growing year on year and can be grown even more rapidly in future.

The shop itself is large with scope for development, such as converting part of the premises into accommodation.

The business is well located on the road leading from the town’s station to its high street, ensuring that it gets plenty of custom from commuters and those going for a day out or on holiday in the locality.

The premises are well lit from the outside with good signage and a large window which is often filled with attractive seasonal displays and/or promotions. Inside, the premises are decorated to a high level. There are open chiller units running the full length of the shop. There is space for the other merchandise as well as a large area set aside for wines. Spirits and tobacco are located behind the service counter on which the lottery machine is placed. As well as the counter area there is also a storage room, an office/kitchen area and very large upstairs area which is currently used for storage.

The freehold owners are prepared to offer a much longer lease or sell the property at an estimated value of £180k.

The off-licence would ideally suit a couple who are prepared to work at the business themselves. The profit is currently low due to the high wages bill which is caused by the vendor not working as a hands-operator, and so taking on the business as an owner-operator will see a significant increase in profit levels.

There is currently no liveable accommodation, although there is plenty of space for converting it, dependent on planning permission. The rooms which are all located on the 1st floor are just used for storage and have never been lived in, costing approx £15,000 to convert to a liveable area. The buyer may then wish to live in this accommodation or rent it out.

Further expansion can be achieved through extending trade hours and offering home deliveries.

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  • High street location
  • Situated in a developing tourist area
  • 300 yards from town's station
  • near new housing development
Rent
£11,750
Rates
£0
Lease Term
5
Lease Expiry
2023
Square Footage
TBC
Accommodation Included
No
Premises Licence
TBC
Property Value
TBC
Planning
TBC
EPC
C 51-75

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Accounts
XXXX
Trading Entity
XXXX
Current Ownership
XXXX
Management Structure
XXXX
Number of Employees
XXXX

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