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Bowman Rebecchi is delighted to bring to the market this rare opportunity to acquire one of Inverclyde’s leading independently-owned convenience stores, Paul's Food & Wine Store in Gourock.
This well-established and highly regarded business is free of ties and set within a superb location, with a new long-term lease available for successful purchasers to provide comfort towards the initial outlay.
Selling due to the owner's retirement, this warm and welcoming shop would be a fantastic opportunity for a new operator with experience in the market.
Built over a number of years, the business enjoys excellent reviews for customer service and reliability and boasts a very healthy business trade in the popular town of Gourock.
The licensed shop specialises in selling general convenience items, national lottery, alcohol, newspapers, magazines, gift cards, school stationery, confectionary, cigarettes, household goods, children's toys, and Western Ferry Tickets.
The building itself is in sound condition with 1,300 square feet of shop space set across the ground floor with a rear office, storage area, and staff welfare facilities.
Secured with a full alarm system and roller shutter, there is also in-shop CCTV, with the owners deserving a huge amount of credit for building such a successful enterprise.
All internal fixtures and fittings are available as part of the purchase price, as is stock at value that is estimated to be in the region of £60,000.
The business is available for offers in the region of £275,000, with a new long-term lease of £20,800 per annum available to be negotiated with the current landlord.
TURNOVER
The business has been operating for more than 20 years, regularly turning over approximately £900k per annum. Previous accounts are available to share with serious buyers.
Since the previous Co-op store closed next door, turnover has risen by approximately 30%, with the store ideally placed for a large catchment area of central Gourock, with pubs, restaurants, and passing trade all using the store.
Profitability on the projected £1.2m turnover for this year is 18%.
STAFF
The current owners employ 3 staff on a part-time basis as well as working in the business themselves.
Location
The subjects are located on a prominent stretch of shops on Shore Street in Gourock, adjacent to the main A770 road which leads to the town centre.
Gourock is located approximately 28 miles west of Glasgow on Scotland's West Coast, with a residential population in excess of 10,000 persons and a core catchment population of approximately 270,000 persons, all within the authority of Inverclyde Council.
With a rich maritime heritage, Inverclyde is looking again to the River Clyde to support its future growth, with Greenock Ocean Terminal developing a new pontoon and visitor centre to support its 140,000 cruise liner passengers per annum, with Inverclyde seeing over 500,000 visitors per annum.
For tourists, ferry services to Argyll and Bute are nearby, as-is Greenock Ocean Terminal, for the embarkation of cruise ships, as well as Kip Marina, for access to the beautiful sailing waters of the Clyde.
The unique and iconic Gourock Outdoor Pool is also less than a 10-minute walk.
Businesses in Gourock include Amazon and CalMac Ferries headquarters, with the main Inverclyde Royal Hospital less than a mile away in the neighbouring town of Greenock.
VIEWING
Viewings can be arranged by appointment with Bowman Rebecchi.
Accommodation
The property extends to approximately 1,300 sq ft.
CURRENT LEASE
The landlord is open to negotiation of a new long-term lease for the new proprietor, with the current rental figure of £20,800 per annum. Each party is to be responsible for its legal costs and outlays, including VAT incurred.
PLANNING
All queries in relation to redevelopment/reconfiguration of the subjects or extended operating hours should be addressed to Inverclyde Council’s Planning Department.
Terms
RATES
From the Assessor’s website, we note the subjects are in the current Valuation Roll with a Rateable Value of £6,300. The property qualifies for 100% rates relief through the Small Business Bonus Scheme, subject to occupier status.
EPC
Available upon request.
ENTRY
Our client is flexible to accommodate requests.
PROPOSAL
Offers in the region of £275,000 are invited for the leasehold interest in the business.
VAT
All prices, premiums, and rents quoted are exclusive of VAT.
ANTI-MONEY LAUNDERING
To comply with anti-money laundering legislation, the successful purchaser will be required to provide certain identification documents.
CLOSING DATE
A closing date may be set, and all interested parties should make a note of interest to Bowman Rebecchi. We reserve the right to let the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the lease of the property.
For further information please contact Bowman Rebecchi.
Specification
- Well Established, Highly Lucrative Licensed Convenience Store
- Current sales exc. VAT - £25,000 gross p/w With 18% Gross Profit
- Convenient and Accessible Position
- National Lottery Sales - £6k p.a.
- Western Ferry Sales Commissions - £15k p.a.
- Outstanding Business Opportunity
- Genuine Growth Potential Due To Closure Of Co-op
- Retirement Sale After 20+ Years
- Previous/Current P&L Available Upon Request
- A770 Main Road Positio
- On-Street Parking
- Gourock Railway Station - 3 Minutes Walk
- Western Ferry Terminal - 5 Minute Drive