FREEHOLD CONVENIENCE STORE & PO(854 sqft)
SALES £619k GP 25.3%, EBITDA £90k
LARGE 2 BEDROOM (COULD BE 3 / 4 ) FLAT
LARGE STORE ROOM (646 sqft)
WELL EQUIPPED / PRESENTED
GENUINE RETIREMENT SALE
EPC – C67
Penwerris Stores and Post Office is situated in a large residential area of the attractive Port and University town in Falmouth, which has seen significant growth in recent years and is widely regarded as a very popular town in which to holiday and live in Cornwall.
Penwerris Stores is largely unopposed and being on a junction is widely visible for passing traffic. The business benefits from a first floor flat, which to the rear has views over the Carrick Roads and is only a short stroll down the hill overlooking the Port and Falmouth Bay.
We understand a retail property has stood on this site since 1923, has been in our clients’ tenure since 1997 and was totally rebuilt (in its current form) in 2003. The business comprises some circa 79.43 sqm (854sqft), with a large store of some 60.05sqm (646sqft) to the rear. On the first floor, with separate access, is a sizable owners flat, which is currently configured as a 2 bedroom property, but could be reconfigured to 3 or 4 bedrooms, with bathroom, lounge and kitchen.
Overall the property is well laid out, having been designed and built by our clients with ample space for storage to the rear. In our opinion, the property is presented in good order throughout.
As mentioned previously there has been a retail business on this site since 1923 and our clients are now wishing to sell due to impending retirement, having run the business for the past 22 years. The business trades all year (with the exception of Christmas Day), and operates between 8am and 9pm Monday to Friday, 8am to 8pm Saturday and 8am to 1pm on Sunday. The business is concerned with the sale of general goods, alcohol, stationery, confectionary, frozen goods and has a newsbill, with no deliveries or rounds, in the region of circa £550 to £600 per week. The business has the benefit of the National Lottery, Post Office Counter (Post Office Plus) and a cash machine. The business is principally run by our husband and wife clients, with 3 key staff and several part-timers, equating to 7 persons in total.
In terms of the trade, the trading profit and loss account for the year end March 2020 show net sales of £619,068, with a gross profit level of 25.3% and which produces an adjusted net profit of £90,082, after deducting all normal overheads, including wages of £73,289. Further accounting information will be made available subject to a viewing appointment.
The Accommodation Comprises
(all areas and dimensions are approximate)
11.63m (length) x 6.83m (width). A very well equipped retail area with tiled floor and banks of freestanding price edged shelving for the display of goods. A range of chiller cabinets/multi deck units for frozen and chilled goods and drinks, bake off. Cigarette gantry and Post Office Counter position. To the rear of the property staff wc. Steps down to:-
8.99m x 6.68m, with door to the side allowing for deliveries. Range of metal racking, Sink unit with cupboard. Secure former Post Office Counter, now used for secure storage.
Access to the side of the property, entrance to hallway, stairs ascending to:-
Overall measurement as per shop below (11.63m in length x 6.83m width) comprising:-
Double: window to front elevation, radiator.
Double: window to side elevation, radiator.
Bath with shower over, low level wc, pedestal wash hand basin, radiator.
4 ring electric cooker, with extraction over. A range of base and wall units, washing machine and sink unit.
3 windows to 2 elevations, some with view towards the river. 3 radiators.
As previously mentioned this is a very large flat and could be reconfigured to provide a 3rd or 4th bedroom.
We are advised the clients have obtained Planning Permission, PA20/05181 : Changes to Post Office store roof to create outdoor flat roof terrace area for upper storey flat. Copy available.
Tenure – Freehold
General Enquiries 0300-1234-100
Energy Performance Certificate
The Energy Performance Rating for this property is C67.
An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.
We understand the property currently holds a relevant Premises Licence in respect the sale of intoxicating liquor off the premises.
We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search
Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999
To be taken at valuation.
Value Added Tax
All the above prices/rentals are quoted exclusive of VAT, where applicable.
If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below.
For further information or an appointment to view please contact:-
Graham Timmins on 01872 247019 or via email email@example.com
AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [c] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.
Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.