Description

Business For Sale: Large Furniture Retailer, Teesside     

Michael O'Connor Furniture & Michael O'Connor Beds & Bedroom Centre

Parker Barras are delighted to bring this long established and well respected furniture retailing business to the Market. 

Michael O'Connor who are one of the premier furniture retailers in the country and were founded in 1983 currently operate from 2  retail venues and a warehouse facility for stock.

Michael O'Connor Furniture which is furniture superstore measuring over 10,000 SqFt and located at Portrack Retail Park, Holme House Rd, Stockton-on-Tees TS18 2SB

Michael O'Connor Beds & Bedroom Centre which is a large retail store located at Unit 3 Roadside Retail Park, Skippers Ln, Middlesbrough TS6 6UU

Each property is held on a lease as follows. 

Portrack Retail Park - 10 Year Lease from December 2020 - £80,000 Per Annum 

Roadside Retail Park -  11 Year Lease From July 2020 at £26,000 Per Annum 

Warehouse - - 5 Year Lease From February 2023  at £18,035.35 Per Annum 

The business trades to a high level, with turnover above £1 million for the previous 5 years.

Accounts are available upon request and a relevant NDA being signed 

Alongside offering the 2 retail locations the business also has a comprehensive website which accounts for around 25-30% (this includes telephone orders)  of total turnover. With a large boost in online shopping in recent years it is believed that this could be further increased to boost turnover. Currently the business does some Pay Per Click campaigns and occasionally some direct mail for larger promotions. There is further scope here to tap into the marketing aspect of Michael O'Connor and boost turnover. 

Full staff team in place, the director would require replacing. A potential handover period may be offered. 

All  stock is included in the price,  at the last yearly stocktake this was around £184,000 - although this does fluctuate it remains similar through the year. 

Sale Price - £295,000 

Please note, there is no direct approach to be made. For further information please contact our office.