Foodworks Hyde Park

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Business Description

Hyde Park Foodworks is located on King William Road in Hyde Park on one of Adelaide’s most popular retail strips.  The store has been operating for some 30+ years as a supermarket with a more recent change to the Foodworks banner under new ownership in late 2013.

The new owners took over a very poorly run store and proceeded to change its appearance and its viability. The new owners have rebuilt its reputation for service, quality and range. Upgrades include new flooring, lighting, a 6-door inbuilt freezer and compressor, new compressors to run the dairy fridge, expanding the Fruit & Veg section in size and offering, full store relays and very recently a new deli case.

Hyde Park boasts excellent demographics with a concentration of people with high disposable income supporting high end gourmet items with an average of 2,700 customers a week and a consistent turnover. The average GP for the store is 30% which is well above the industry averages of 22%-24%.

The store has 11 parking bays for its customers on the side and to the rear of the premises and is monitored by a number of security cameras inside and outside of the store.

At a glance:

  • Recently re-branded and upgraded
  • 2016/17 sales $1.8 million
  • Average gross profit for the store is 30%
  • 2,700 customers per week (average)
  • Good location among excellent demographic
  • Parking to side & rear of store
Tony Iasiello 0412 217 608

 


Extended Price Information

Goodwill including Plant & Equipment $220,000
Stock at valuation (approx) $100,000
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$320,000


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Staff Summary

The business employs 11 casual staff

Lease Summary

Current Rent $11,360.66 per month including GST
Lease Term 5 years
Lease Commencement 9th December 2013
Right of Renewal 1 x 5 years
Outgoings Paid by tenant
Adjustments CPI annually
Current Rent

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