Specialist property business advisor, Christie & Co is pleased to offer both the freehold and leasehold options on Hewlett Road Londis, a symbol group branded convenience store in Cheltenham, Gloucestershire.
Hewlett Road Londis has been owned and operated by our client for over 39 years and they are now looking to sell in order to retire. The business is well established and offers an ideal platform for an owner or regional operator to take the it forward and build upon its excellent trading position. The ground floor is around c.2,430 sq ft and includes a large and well-appointed retail area, as well as good-sized storerooms. Deliveries are taken through the rear of the property directly into the storerooms and there is owner parking to the side of the property with space for three cars.
Located above the store with separate side access is the owner's accommodation, which comprises a large kitchen, dining area, three spacious double bedrooms, a single bedroom, a large family bathroom and separate WC.
The excellent core weekly sales could be supplemented by rent received for the accommodation above the store which is currently vacant. There is the potential to re-incorporate the Post Office into the business. Already offering Deliveroo and Just Eat services for alcohol and snacks, there is scope to expand the range of products available to include groceries etc.
Jack Kotecha, who runs the store commented, “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. The store is conveniently located in the heart of Cheltenham, playing host to the legendary Gold Cup horse race, literature festival and various prestigious events throughout the year. We instructed Christie & Co to sell our business as we are confident they will find us the perfect buyer to continue the legacy we have long established.”
Jamie Williams, Business Agent at Christie & Co commented, “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 4 bed owner’s accommodation, the already high GP margin of 32% could easily be increased.”
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.