Business Overview:
A rare opportunity to acquire a profitable and well established family run retailer of heating equipment has arisen in the city of Hull. Founded over 100 years ago by the owner’s grandparents, the business has concentrated its efforts on the domestic heating market for the past thirty years. The business has a great edge of the city center location on one of the busiest roads in the area, attracting a huge volume of traffic which passes the showroom every day of the week. The magnificent freehold property has a large showroom on the ground floor with over 80 displays for the customers to choose from, including fires, stoves and fireplaces with a choice of appliances which can be used with gas, electric, oil/gas and solid fuel. They also sell bottled gas for patio heaters and barbeques. The property is across three floors with the second and third floors virtually unused at present apart from a small amount of storage. Outside there is ample free parking for customers. The cornerstone of this business is its honesty and integrity, this business prides itself on the quality of its merchandise and the extensive knowledge and help they provide their customers. They are fiercely competitive offering a “never beaten on price” guarantee with the lowest prices available in the area and great package deals to choose from.
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Property Features and Assets:
There are options to either purchase the freehold of this magnificent three storey building or to rent out the premises from the owners. New owners would have the possibility to sub-rent the premises as at present only one floor out of three available is being used.
The freehold premises were recently valued at £325,000. The yearly rental would be circa £30,000 per annum with rates of £7,000 per annum. The period of time for the lease is negotiable.
The ground floor has a large heating showroom which takes up seven rooms in total. There are also offices on the ground floor, with a storage and goods in area at the rear of the premises which could easily be utilised as a trade counter. At present the storage area is used as a staff car park
Both the first floor and the second floor have six rooms on each, with an opportunity to either sub- rent out or to expand the business. The second floor was originally used a a large flat and could be another way to utilise the spare space available.
Market Competition and Expansion:
N.A.
Reason for Selling:
retirement age and wish to take life easier
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.