Ref 6813 – Leasehold Convenience Store & Accommodation Blacks Brokers are pleased to bring to the market this leasehold newly fitted convenience store with accommodation located in a densely populated area of Walsall, West Midlands. Introduction
The Oak Supermarket has been trading on Well Lane since 2012. Our client established the business here due to the high amount of footfall generated by the busy surrounding area and the lack of local competition. A full renovation was undertaken before opening and this was completed to a very high standard, with our client investing £95,000 in quality fixtures, fittings and equipment. The business is very well known and has a superb with a large base of regular customers. Our client has secured strong relationships with local schools by sponsoring events, teams and so on and in turn, the school community use the shop on a very regular basis. The Oak Supermarket has become an integral part of the local community. Location
The business is positioned on a busy junction in the heart of a large residential area. This is close to Goldsmith Primary Academy, Harden Health Centre and Goscote Greenacres Community Garden. The area is well linked by the M6 and A34 with good public transport links and free parking is available immediately outside the shop. Reason for sale
The business is ideally suited to a hands-on owner-operator but due to our client’s other business commitments, the business is now offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level. Lease
The building is available on a competitive rate on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial lease. The current lease is provided by the local council and is a 40 year lease which began in 2014. This runs at a cost of £3,082 per month. Staff
The business is currently operating with two members of staff in employment supporting our client working on a part time basis. Financial details
The Oak Supermarket has traded well since opening. We are advised that the business currently has annual turnover of £884,000. In addition to this there is £2,500 per month which comes from lottery, paypoint, atm and the rental of the yard space for parking. Full financial details are available upon viewing. Summary
This leasehold business occupies a superb trading position within a busy residential area of Walsall with plenty of footfall and repeat custom. The store has been newly renovated and has become a local hub for the community offering fresh foods, frozen foods, cigarettes, alcohol, National Lottery, newspapers, PayPoint, atm and more. There is plenty of scope to develop the business further with the introduction of longer opening hours and a possibly a delivery service. It is also to be noted that a new development is about to commence 0.25 miles from store with up to 500 new homes and the majority of construction traffic and future residents will pass the store to get there, hence the introduction of hot food and coffee would be hugely advantageous. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £295,000.
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