Independent Retail News - 2 May 2003
East Anglia continues to pull in the c-store buyers
Bargain of the week
White's Newsagents is one of the few remaining independent retail businesses in the centre of Cambridge. It is located opposite King's Chapel, Cambridge, and attracts students and a busy passing trade generated by local tourist attractions.
Annual sales of £457,817 produced a gross profit of £116,059 (year to Jan 2002)
Asking price of £215,000 leasehold. A new lease has been created for a term of 15 years, with an annual rent of £24,000. Contact Christie £ Co 01473 256588
Buy a business seminar
Places are still available at the BusinessesForSale.com one-day seminar aimed at helping retail business buyers. The seminar takes place at the Elstree Moat House, Herts, on May 23 at a cost of £120 plus VAT. For details ring 0207 964 9639 or access the BusinessesForSale.com website.
For more information about buying and selling a business, log on to im-talking-shop.co.uk and click on the BusinessesForSale.com section on the home page.
Demand for independent retail units remains strong in the East Anglia region although a possible downturn in the housing market in the south-east of England is one serious cloud on the horizon.
Desirable accommodation-based properties with businesses attached are still attracting interest from buyers looking to relocate from the south-east and the Midlands, says Marcus Markou, chairman at the online www.BusinessesForSale.com.
"This lifestyle change is often funded by people who are realising the equity increases in their homes," says John Roseby, of Adams and Co, a business transfer agent based in Norwich.
However, while there are plenty of quality period homes with retail businesses attached, finding a business with a high turnover can be rare.
"Most of our purchasers are cash buyers," says Roseby. "A slowdown in the housing market in the south-east would therefore have an effect on the number of properties being sold but that has yet to happen."
Another pressure on the supply of good businesses is the effect of the multiples and the growing interest in the convenience market. "A good retail business will get snapped up by one of the big boys." Says Roseby. "However, if you're patient enough and you do your research you will find what you're looking for."
Property agent Christie & Co believes the retail property market remains strong in East Anglia, particularly for "profitable units in sought-after areas".
Retail units up for sale through Adams and Co on the www.BusinessesForSale.com website include a post office with a four-bedroom period home opposite an attractive village green near Dereham in Norfolk. The business operates limited post office hours.
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