IGA Supermarkets for Sale
• Metcash has instructed me to sell three of their company stores.
• The potential buyers are to be experienced retailers, preferably in the supermarket sector.
• All buyers will have to undergo a period of between two to three months of training as a prerequisite to purchase a store.
• I will be providing the financials in due course.
• Essentially all these stores are around 550 – 600 sqm and are currently doing a turnover of between $60k – $75k per week with a GP of approximately 19%.
• New 10 years leases are being negotiated for the new owner.
• Metcash requires prospective purchasers to draw up an elaborate business plan to clearly explain where the business would be in the next 3 years and why they would be the right fit for the business.
• A written offer has to be submitted together with the business plan.
• The successful candidates will have to also provide Metcash with a bank guarantee to provide stock on a weekly basis.
• The amount of the bank guarantee will be determined by Metcash.