High turnover Gloucestershire convenience store goes up for sale
By Matt Hall | 3rd December 2019
A well established Londis store in Cheltenham has hit the market, with an asking price of £750,000.
Christie and Co, the selling agent, say that the premises offer an ideal platform for an owner or regional operator to take the business forward and build upon its excellent trading position.
Hewlett Road Londis has been owned and operated by its current proprietor, Jack Kotecha for over 39 years and he is now looking to sell and retire.
"We have run the store since the early 1980s with an outstanding reputation, customer loyalty and presence in the local community. The shop has been placed for sale as we are looking to retire," said Mr Kotecha.
"The store is conveniently located in the heart of Cheltenham, which plays host to the Gold Cup, literature festival and various other prestigious events throughout the year."
The ground floor is around 2,430 sq. ft and includes a large and well-appointed retail area, good-sized storerooms as well as owner parking and delivery area to the rear.
Located above the store is the owner's accommodation, which comprises of a large kitchen, dining area, three spacious double bedrooms, a single bedroom, a large family bathroom and separate WC.
Christie and Co suggest that excellent core weekly sales could be supplemented by rent received for the accommodation above the store which is currently vacant.
There is also the potential to re-incorporate the Post Office into the business.
Deliveroo and Just Eat services are currently offered to customers for alcohol and snacks, with scope to expand the range of products available to include groceries.
The freehold interest of Hewlett Road Londis is offered at £750,000, with the leasehold interest at £200,000 with an annual rent of £30,000.
Jamie Williams, business agent at Christie and Co said: "Hewlett Road Londis is a rarely available, high turnover convenience store with room for growth.
"There store has an excellent trading history and is available on a freehold or leasehold basis. In reintegrating the Post Office and utilising the currently vacant four bed owner's accommodation, the already high GP margin of 32 per cent could easily be increased."
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