Following a rollercoaster 37 years, Milton Keynes DIY and building supplies store Sid Telfers has been put up for sale by its eponymous owner, who is hoping to find a buyer who will continue the store's legacy for "Aladdin's cave" convenience.
Mr Telfers launched the business in 1975, and after selling the shop twice to his son, who re-branded it as DIY Dealz Ltd, bought it back when profits began to slide. Since the second buy back he has turned things around and brought turnover back up to £400,000. Now 68, he is hoping to retire once and for all but has faced difficulty trying to sell up in the current climate.

With around half of its 4,800sq ft floor space and additional 5,000sq ft yard dedicated to its timber offering, the store is described by its owner as "unique" for the Milton Keynes area.

"While we do sell a lot of DIY tools, ironmongery, gardening and paint mixing, etc, we also own saws for cutting and planing timber, which makes us stand out from a lot of our competitors," Mr Telfers told DIY Week.

"I've had a lot of interest from potential buyers," he told DIY Week, "but many have gone away and not come back again. There's been a lot of enthusiasm but no money – people are finding it hard to drag anything out of the banks at the moment."

Estimating the business to be worth around £100,000 with stock at net £135,000, Mr Telfers said his ideal buyer would take on and develop the current business. "This shop has a lot of potential," he said. "It does need some money invested in it for things like new lighting and new shelving and its image is a bit tired and scruffy. But it's an ideal buy for someone looking to make a fresh start, particularly as a lot of the current staff members are heading towards retirement as well."

As the land is potentially worth more (an estimated £400,000) than the business, Mr Telfers has also been looking into selling for redevelopment as flats. "I've been talking to planners about this. We're surrounded by chimney pots so it's already a very residential area, but my preferred option would be to sell as a going concern."

With the shop's nearest competitors a B&Q around three miles away, and a Wickes and Homebase five miles off, Mr Telfers said the shop's placement works well with its unique offering.

He added: "Since I last bought the store back our takings have gone up 20% - the shop is very capable."

Anyone interested in more information about the store can contact Mr Telfers on 01908 312359.