Business Summary

Description :-

ORE are delighted to offer this freehold Petrol Filling Station and leasehold franchised convenience store in the picturesque holiday destination of Norfolk.

Business is fully managed by staff and generating a total turnover y/e 31st March 2010 of £3,556,873 and gross profit of around £360,000 for the same period. There is great potential to increase revenue by including additional lines of retail.

Currently there is planning permission to double the sales area floor space of the petrol station store and to develop 2 x one bedroom flats above. Additionally, the leasehold franchise store has historical planning approval for the expansion of the retail sales area thereby allowing new lines.

Petrol Filling Station

Tenure :-

Freehold

Property Description :-

The Petrol Filling Station occupies a prime position at a triangular junction of converging main through roads. It is a detached single storey property.

The island filling station is a Jet Branded daily operational forecourt fuel sales business incorporating a Londis Store

The Londis stores sales area is predominantly open plan with a floor area of approximately 600 sq ft, and is well laid out and fitted and equipped for sales and selected convenience goods, chilled products, frozen ice cream, newspapers, magazines, confectionery, domestic fuel and a motoring product section. Above the store is a recently refitted office and storeroom which are located within the roof area.

A four island 12 point service area with separate air, water and four parking bays.

There is planning permission to approximately double the sales floor area and extend the floor space above the store to accommodate 2 x 1 bedroom flats or large commercial office area plus further storage space.

Location & Surroundings :-

The Jet Filling Station is located in the large village of Coltishall, at the junction of the B1150 and is approximately 10 miles to the north of Norwich, on the edge of the popular Norfolk Broads tourist area. This is the only petrol filling station within the immediate area, with the nearest being approximately four miles away.

Business Description & Takings :-

This Petrol Filling Station offers limited retail lines which has room for expansion. Currently the retail services include lottery, cigarettes, limited stationary, and cards. There are considerable areas for retail improvement by introducing cold drinks, extensive confectionery, and household goods lines.

Business is being run with help from staff and generating Sales to the year end 30 September 2010 were £2,558,876 excluding VAT with a gross profit for the same period of £115,000. The total fuel litre-age is circa 2.6 million litres.

Opening Times & Staffing :-

The store is open for 95 hours per week and this business completely managed by dedicated manager and shift staff with very little involvement of the owner.

Lease Terms & Rates :-

The Rateable Value is £9,600 for the year commencing April 2010. Interested parties are to encouraged make their own inquiries in to the business rates from the local authority.

Separate Londis Store :-

Tenure :-

Leasehold

Property Description :-

The Londis convenience store occupies a prime position at a junction of converging main roads and is a detached single storey property. It is important to note that the property directly adjacent to the Jet Petrol Filling Station.

The open plan sales area is laid out to a very high standard and is fitted and equipped with various display shelving, dairy chillers, soft drink chillers, off license chillers, food freezers, ice cream freezers, a bake off and hot food sales area and a full office license display. To the rear of the store there is a large storage area, office and staff WC. We are advised that the floor area is approximately 1,200 sq ft.

The Londis Store is located in a very prominent central position in the village of Coltishall and at the main road junction. There is off road parking to front for up to eight vehicles and on road parking areas close by. To the front of the store there is a patio area which is utilized with tables and chairs for food and drinks purchased on the premises.

The patio area has previously been granted planning permission to extend the retail sales area to the shop. There is potential to extend the shop sales area further by adapting the current storage area and acquiring other parts of the property.

Business Description & Takings :-

The business is currently an appointed National Lottery ticket agent.

Sales for the year end 30th September 2010 were £997,997 excluding VAT with a gross profit for the same period of 25%.

Opening Times & Staffing :-

The store is open from Monday to Thursday 6.00am — 10.00pm Friday to Saturday 6.00am -11pm, and Sunday — 8am-10pm. This business completely managed by dedicated manager and shift staff with very little involvement of the owner.

Lease Terms & Rates :-

Leasehold. The property is held on the residue of a 31 year lease from 2007, with a current passing rent of £11,500 per annum. A first option to purchase the freehold to the property is available.

The Rateable Value is £12,000 for the year commencing April 2010. Interested parties are to encouraged make their own inquiries in to the business rates from the local authority.

Premium

The Vendors are seeking offers at £850,000 for the Freehold Petrol Station and Leasehold Store, goodwill and fixtures and fittings plus SAV.

Legal Costs :-

Ingoing tenant to pay landlord legal costs.

Property Details