Retail Property (High Street) Sold STC

Location

Welcome to Pershore, Worcestershire, a charming market town located in the heart of England.
Pershore is a picturesque town situated on the banks of the River Avon, known for its rich history and stunning architecture. The town has a population of around 7,000 people, and it is located just 10 miles east of Worcester. Pershore is well-connected to major conurbations such as Birmingham, Bristol, and London, making it an ideal location for businesses looking to establish a presence in the West Midlands.
Pershore has a wide range of local amenities, including shops, restaurants, and cafes. High Street, where Browns Home Hardware is located, is home to a variety of independent and high street retailers, making it a popular shopping destination for locals and tourists alike. Pershore also has a thriving market, which takes place every Thursday and Saturday, offering a range of locally-sourced produce.
Pershore has several anchor businesses located in the town centre, including a large Tesco supermarket and a number of independent retailers. The town is also home to several pubs, bars, and restaurants, making it a popular destination for food and drink lovers.
For customers visiting Browns Home Hardware, there is two hours of free parking available opposite the store, making it easy for customers to stop by and browse the wide range of products on offer.
Distances from Major Conurbations:
•Birmingham: 29 miles
•Bristol: 61 miles
•London: 111 miles
Browns Home Hardware is located in a prime location on High Street, Pershore, Worcestershire. With its range of local amenities, anchor businesses, and convenient location, it is the perfect location for businesses looking to establish a presence in the West Midlands. With two hours of free parking available opposite the store, customers can easily stop by and browse the extensive range of products on offer.

Opportunity

This is a rare opportunity to acquire a long-established business in the heart of a community. Brown’s Home Hardware was established in 1913 and has served the residents of Pershore and surrounding areas for over 110 years. The current owners have been in the business for 40 years and are now ready to retire and hand over the reins to the next generation.
Brown’s is much loved and regularly used by the population of South Worcestershire, and currently stocks around 10,000 lines with thousands more available to order.
Having won several awards over the years, the current owner moved to the South Coast in 2019 and entrusted the business to management.
Whilst capable, without the focus of being run by someone invested in the business the sales have dipped, but with the right direction from the new owners, the potential to regain sales volume is significant and this is an opportunity for someone to pick up a great deal requiring a small degree of extra drive to realise a significant return on investment.

Trading Information

Year to September 2022 the adjusted net profit was £23,000. In 2018, ahead of the owners move away from daily running of the business the adjusted net profit was shown as £40,000.

Staff

The store is run by a manager full time, with one other full time member of staff and 3 part timers including a member of Saturday staff.

Opening hours

9am-5pm Monday to Saturday
Closed Sunday

Tenure

The business operates on a leasehold basis with an annual rent of £15,000 per annum
The lease is holding over and a new lease on similar terms will be made available to the new owner as part of the legal process.

Rateable Value

The rateable value with effect from 1st April 2023 is £17,500 per annum.