FREEHOLD DISCOUNT SHOP ON COMMERCIAL AVENUE – NICOSIA
| Business Type: |
Discount Shop
|
| Location: |
Greater Nicosia, Nicosia, CYPRUS
|
| Type of Tenure: |
Freehold |
| Business Reference: |
CY0324F |
| Asking Price: |
€ 320.000 |
| Monthly Rent |
n/a (Freehold) |
| Stocks (at cost) |
Euro 30.000 |
| Reason for Sale |
Retirement |
| Years Established |
16 |
| Incorporated Business |
n/a |
| Relocatable Business |
no |
| Car Parking |
2 private & free-on-street |
| Vendor Financing |
Negotiable |
| Full-time Employees |
1 |
| Part-time/Seasonal Employees |
1 |
| Internal Area |
115 sq. metres |
| Internal Seating |
n/a |
| Terrace Area |
n/a |
| Terrace Seating |
n/a |
| Mezzanine Area |
40 sq. metres |
| Mezzanine Seating |
n/a |
| Plot Area |
n/a |
| Basement Area |
n/a |
Description Location
The business enjoys an excellent location on a main commercial avenue, with heavy pass-through traffic. The section of the avenue on which the business is located is also the local shopping & business avenue, serving a large and densely populated middle-class residential area. Therefore, clients are both passers-by and locals.
The property has very good visibility and is easily accessible for clients, with its own dedicated client parking in front of the shop, but also lots of free parking along the avenue.
The Business
The business operates for 15 years as a discount store, offering a very large variety of products, including grocery & food products, gardening products, home decoration items, kitchen utensils, gifts, DIY tools.
Because of the excellent location and large frontage of the shop, a new owner may change the business concept and use shop for any type of retail or service business.
The Property
The property is part of a mixed-use building, consisting of shops on the ground floor and apartments on the floors above. The whole building was completed in 2000 and is of very good construction quality and well maintained.
The shop has a separate freehold title which can be transferred immediately upon sale. It consists of a ground floor with an area of 80 square metres and a Mezzanine level with an area of 40 square metres (total 120 square metres) and has a large frontage on the main avenue of 8 metres. The ground floor is the main retail area, while the mezzanine is used for storage, office and toilets.
The shop is fully furnished as a retail store with shelving, displays, manager’s desk and sales station. The main equipment consists of a goods elevator (to connect the mezzanine storage with the ground floor), air-conditioning, big refrigerator, cash register and a kitchenette for staff.
Sale proposition
The business and shop property are offered for sale jointly at the Asking Price quoted above. All equipment, shelves and furniture is included in the Asking Price as well as the stocks, which have a value-at-cost of around €30.000. Finally, the business has appreciable goodwill as it has been established for 15 years, is very well known in the area and has steady clientele.
Because the town planning zone of the property is commercial, a new owner has the freedom to use the shop for any other type of retail business, or for a “high street” service business (e.g. vet, beautician, hairdresser, travel agent, etc.).
The owners need to sell the business to retire. |
