Flat for sale in Salisbury SP2, 3 Bedroom

Reference - 47023

Trading Hours
Monday – Friday 06:45 – 13:30
14:30 – 17:30
Saturday 07:00 – 13:00
Sunday 08:00 – 13:00

Description
This is an ideal opportunity to acquire Pinewood Stores located within the Salisbury postcode area, on a parade in a busy housing estate.

The store is ideally located to supply the local area and has a large and growing customer base. The front of the store also has off road parking for up to 8 vehicles. (local authority layby free to use) making it ideal for traffic passing by to stop.

The store consists of an end of parade property with owner’s accommodation above. The ground floor hosts the store of approximately 800 sq feet and has accommodation above. The store is bright and modern with an additional store room which could be utilised to increase the store size.

The store faces a large open ground with stunning semi-rural views and has 2 schools close by and a children’s playground facing it. The lease is a local authority lease and a brand new 15-year lease is on offer to the right buyer.

The business supplies locals and passers-by with all aspects of general convenience goods including, cigarettes, medicines, lottery, pay zone, general hardware, pet foods, newspapers and magazines, with scope for news rounds.
The store does not currently sell alcohol, but permission can be sought to sell alcohol at the landlords discretion.

The store is currently run by the vendors and one part time staff member and is only being offered due to retirement. The current vendor has enjoyed the last 14 years running the store which has been established upon the site for over 50 years.

The store currently has a turnover of some £206,616 (weekly £3,973) and has true potential to grow as the vendor currently limits the opening hours. This offers, along with the potential for news rounds, to increase the turnover as required. The property also benefits from a 3 bedroom flat above the store which is comfortable and spacious.

With excellent scope to increase turnover and profitability the business offers true scope to someone wanting to relocate and have a lif

Sales
Currently shop sales average £3,973 per week approximately. In addition, there is also a rental income of £8,184 (rent increase pending).

Accounts
Current records and accounts can be inspected when viewing.

Summary
Pinewood Stores is a delightful family run business that is ideally located and supported by the communities within the vicinity.

Offering a lifestyle change to new owners while still offering scope to the seasoned operators a viewing is essential to fully appreciate the quality of the store in question and the size of the flat above.

Building External
The property is located on the end of a row of terraced/parade properties located in the centre of the housing estate in a strong loyal residential area.

The property has a classic double fronted access finished in white UPVc, the building is of brick construction and covers 2 floors, the flat above is included within the lease.

The flat has a large garden associated with it and overlooks the fields with some stunning rural views.

The building has a traditional pitched roof finished with tiles.

The store has rear access while the flat is accessed from the side of the property.

Parking externally is to the rear of the store with local authority layby parking to the front of the building for the shops on the parade, capable of 10 cars plus.

Building Internal
The store is accessed by a double fronted UPVc doorway located centrally to the front of the property. The shop has a vinyl flooring throughout and is additionally supported in this modern look with the inclusion of a suspended ceiling and fluorescent lighting.

To the right of the entrance is the main counter area, which in turn offers the lottery and pay point.

Located to the rear of the counter is the cigarettes and medicines. Located to the lhs window is the newspapers and magazines, the vendors offer an excellent choice for customers. Following the lhs wall is shelving for the household goods followed by crisps and an ice cream freezer. A doorway located within this wall leads to a staff toilet and washroom.

The rear lhs of the store offers frozen goods and a drinks chiller. To the rear wall is a doorway leading to a large store room which also incorporates a large walk in fridge and freezer (not currently in use).

Further along the rear wall is the start of the general convenience goods and is laid to shelving. From the rear to the counter on the rhs is more convenience goods, drinks chillers fresh produce, sweets then the counter.

The rear store room offers rear access and parking.

The centre of the store supports additional shelving with a huge selection of pet foods, sweets, biscuits and a shelf for small toys.

The store does not have an alarm system however the vendors have a CCTV system that needs fitting and is included within the sale.

Residential Accommodation
A 3-bedroom property comprising of a lounge area, a kitchen with fully fitted base and wall units, free standing washer, and fridge and oven/hob electrically operated (gas point available) with Formica work surfaces.

Along the landing is 3 bedrooms, 2 doubles and a single bedroom. There is also a fully fitted family bathroom with bath and is part tiled.

The property is accessed from its own separate entrance located to the side of the property and has its own garden which is fenced.

This owner’s accommodation is currently sub-let on 6 monthly leases and it has been the same tenant for the last 2 years, producing an additional income for the owners.

Tenure
We are advised that the property is held on a 15-year local authority lease which commenced in 2006. The annual rent is £13,350 including the flat, (correct as advised on 04/03/2019). Rent reviews are at 5 yearly intervals.

We are advised that the landlord would provide a new lease for the buyer (subject to status).

Current rates payable is zero, the business benefits from full rare relief.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.