Hardware Store in Downtown Parksville For Sale

Description

Sale structure: two separate acquisition opportunities

Property acquisition

Company: Ormiston Holdings Ltd.

Property address: 142 Morison Ave, Parksville, British Columbia

Sale type: land and buildings

Asking price: $2,150,000

Property valuation: $2,150,000

Retail space: 6,997 sq. ft.

Land: included

Buildings: included

Vacant possession: available

Franchise continuation: not required for the property acquisition

Reason for sale: retirement

Business acquisition

Company: Tower Brae Holdings Ltd.

Business name: Parksville Home Hardware

Business type: hardware retail franchise

Franchise brand: Home Hardware

Location: downtown Parksville, British Columbia

Current status: established operating franchise

Asking price: $400,000

Profitability: reported as profitable

Profitability history: established over many years

Inventory

Inventory value included in asking price: approximately $350,000

Final purchase price: subject to adjustment based on inventory levels at takeover

Customers and location

Customer base: established

Repeat customers: established

Store format: destination store

Traffic flow: stated as strong

Location: heart of downtown Parksville

Transaction details

Property acquisition: available separately for $2,150,000

Business acquisition: available separately for $400,000

Property owner: Ormiston Holdings Ltd.

Operating business owner: Tower Brae Holdings Ltd.