Flat for sale in Swindon SN1, 1 Bedroom

Reference - 46830

Description
This is a fantastic opportunity to purchase an established off licence in the heart of Swindon.

Victoria Off Licence is a specialist wine, spirit and beer off licence, offering a fantastic choice of UK specialist, European and worldwide beers wines and spirits.

The store is located on Victoria Road and has been trading for over 5 years and is popular with the locals and students within the area, and is presented in immaculate condition. In addition to the off licence the vendor has introduced the convenience goods and also the national lottery, which provides a small extra income, again growing in popularity within the store.

Victoria Off Licence was purchased by our client and has successfully traded for the last 18 months from this location. It is only now being offered for sale as the vendor is relocating.

Current weekly turnover is in excess of £4,000 per week and growing, all done without a website and advertising.

The store is renowned throughout the area and offers excellent scope to further develop the business.

The vendor is offering the shop upon a leasehold basis, in addition he owns the freehold with the flat above, the flat is in a rundown condition and requires some renovation but comes with a sitting tenant paying £450 pcm. The vendor will also sell the leasehold, including the flat with the tenant in situ.

The vendor would also consider selling the entire freehold with the business and flat. Also, should the buyer require this or offer first refusal to the lease purchaser at any time. The vendor is prepared to offer a 10 year lease (subject to status).

All in all Victoria Off Licence offers a huge scope for a first time buyer or a seasoned buyer to build on its current success. With multiple purchase options available interest is expected to be high, therfore a viewing is highly recommended to avoid disappointment.

Sales
Currently shop sales average £4,000 per week plus lottery commissions.

Accounts
Current records and accounts can be inspected when viewing.

Trading Hours
Monday – Saturday
08:00 – 22:00

Sunday
10:00 – 22:00

Staff
The business is managed by the owners with a mix of full and part time staff members.

Building External
Access into the store is via a double fronted powder coated aluminium entrance.

The entrance is also protected by a full electrically operated shutter.

The building is built of traditional brick and tiled roof and covers 2 storeys, the second floor being the flat, which is accessed to the rear of the property via a spiral metal staircase.

The rear of the shop has a steel door. There is minimal parking to the property, however moving the staircase would offer a parking space, the vendor currently parks in the adjoining property by agreement.

Building Internal
The shop is accessed from the front of the property and is traditionally laid out with racking and shelving all around, centrally there is a back to back shelving unit, a whole variety of drinks chillers are located on the right hand side of the store.

The counter is by the entrance on the left hand side and holds the lottery terminal and scratch cards.

The shop is fully renovated and in walk in condition. The flooring is wooden with a suspended ceiling with lighting installed.

To the rear of the store is a doorway leading into a large storeroom, which has shelving and although in good condition, minor renovation is required. Beyond this is a staff toilet and the rear access.

Residential Accommodation
The residential accommodation is currently let and may be made vacant on completion. This flat is optional on the leasehold and included within the freehold option.
Currently the current tenant pays £450 per calender month.

The flat is in need of modernisation/renovation and some works are currently being done by the vendor.

The flat consists of a fitted kitchen, which currently has a shower room off it but this is to be moved, a master bedroom plus a lounge/bedroom, which is located towards the front of the property. There is also a separate WC.

Tenure
We are advised that the property is available freehold as one of the options.

The vendors own the property and will grant a new lease (subject to contract) for a period of 10 years (negotiable) at an initial rent of £10,000 exclusive of rates for the shop alone or £12,000 exclusive of rates for the shop and flat. Rent reviews are at 2 yearly intervals.

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

Summary
All in all Victoria Off Licence offers a whole host of scope and diversity to a first time buyer or seasoned operator alike.

With various sale options available interest is expected to be high, no reasonable offer will be refused, the business is priced to sell and interest is expected to be high. Therefore, an early viewing is essential to avoid disappointment.