Herston QLD 4006

$1,450,000 + SAV

Unique Opportunity - Profitable Retail Business with Solid Financials

Phone enquiries - please quote property ID 23641.

Butterfields Gifts, Fashion & Fine Foods - RBWH Herston, QLD 4006
Situated in the heart of the RBWH campus at Herston, this unique business presents an outstanding opportunity for a family partnership (or astute investor) who wants to get involved in an exciting and profitable retail business.
This exciting business consists of a stylish & upmarket specialty Gifts, Fashion Boutique and Fine Food convenience store with bonus Newsagency/Lotto functionality. Located centrally on level 1 of the Ned Hanlon Building at the RBWH Herston, this exclusive business boasts a long lease option and a guaranteed secure customer base.

The key attributes that make this business attractive are::
• The RBWH campus environment provides a very safe and controlled retail environment with security on call if required
• The current lease is only $410/square Meter/Annum & expires in May 2023 with a 10 year option to renew
• Turnover for the last financial year was $3.85m of which $2.11m is related to Commission products (Lotto,Go card etc )
• Excluding commission products, the business is currently returning a GP of 47% and has an average adjusted net profit (over the last 3 years) of $472K
• The current business operates independently and is not linked to any franchise agreements
• There are no distribution responsibilities attached to this business
• The Customer base is secure. Approximately 6,000 customers visit Butterfields each week from the hospital, an onsite UQ campus, Queensland Health Departments and other medical research organisations
• Equipped with comprehensive state of the art security cameras, computer surveillance and POS computer systems
•.Proven sales performance with records over the last 3 years available
•.Our retail image exemplifies what customers are seeking in home accents and gifts which is a "Modern & Urban Life Style" look and feel

Years Established:
The Business has been running under its current ownership since 2003

Products & Services:
Butterfields is a specialty cards, gifts and apparel boutique that specialises in "one-of-a-kind" merchandise not commonly found in the larger retail market. We are dedicated to providing customers exceptional customer service in a visibly relaxing and engaging shopping environment. Our mission is to provide customers with unique, high-quality merchandise at affordable prices
This business is unique in that it consists of three separate but complimentary retail functions which contribute to the gross profit of the business as follows:
1. Exclusive & upmarket specialty Clothing and Gift boutique specialise in an assortment of high-quality merchandise (25%).
2. Fine foods and convenience products (35%)
3. Newsagency functionality including Lotto & GoCard to keep traffic flow consistent (40%)
The contribution of profit from these separate business functions strengthens the business as a whole and virtually makes it recession proof with minimal business risk.

Features:
• long lease option and low rent expense (only $410/M2/Annum)
• guaranteed secure customer base of approximately 6,000 customers/week
• Turnover for the last financial year was over $3.85m
• Proven sales performance with records over the last 3 years available
• with unique, high-quality merchandise at affordable prices
• the guaranteed secure customer base virtually makes this business recession proof with minimal business risk

Premises:
Butterfields Gifts Fashion & Fine Food is centrally located at RBWH on Level 1 of the main hospital building (The Ned Hanlon Building), and is a stylish & upmarket shop with a large shop floor of over 355m2. The shop fittings have been recently upgraded to accommodate the many improvements in shop layout, to improve customer flow and ultimately to improve the overall customer experience. It is also equipped with comprehensive state of the art security cameras, computer surveillance and POS computer systems.

Location & About the Area:
Level 1 of the main hospital building (The Ned Hanlon Building) Royal Brisbane Women's Hospital Herston, QLD 4006 & is situated in the heart of the RBWH campus. The Business is uniquely located situated in the heart of the RBWH campus which services the hospital, an onsite UQ campus, Queensland Health Departments and other medical research organisations

Trading Hours:
Trading hours are from 6am to 6pm Monday to Friday and 7am to 3pm Saturday, Sunday and public holidays.

Lease:
The current lease is only $410/square Meter/Annum & expires in May 2023 with a 10 year option to renew

Financials:
Turnover for the last financial year was $3.85M of which $2.11M is related to Commission products (mainly Lotto and Go card). Excluding commission products, the business is currently returning a GP of 47% and has an average adjusted net profit (over the last 3 years) of $472K . Proven sales performance with records over the last 3 years available.
This is a very successful and profitable business with solid financials. A detailed Business Information Statement is available upon signing a confidentiality agreement.

Employees:
5 FTE & 5 Casual Staff (2 FTE)

Equipment:
The business is equipped with comprehensive state of the art security cameras, computer surveillance and POS computer systems.
The shop fittings have been recently upgraded to accommodate the many improvements in shop layout, to improve customer flow and ultimately to improve the overall customer experience.

Training:
Onsite Business training available upon request

Potential:
Unique and profitable retail business virtually recession proof with minimal business risk. Potential to expand customer base & explore other online sales opportunities

Reason For Sale:
Owners wish to retire

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