| (REF: M3210) Quality Old Established Linen, Soft Furnishings & Drapers Leading Store |
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| Seller Reference: |
M3210 |
| B4S Reference: |
21436 |
| Asking Price: |
£145,000
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| Net Profit: |
Undisclosed |
| Sales Revenue: |
£312,000 |
| Number of Staff: |
6 |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Leasehold |
| Location: |
Kent, South East England, United Kingdom |
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Nationwide are pleased to offer to the market : Established over 250 years.
Outstanding opportunity to acquire an old established traditional Drapery Store which we are informed was established approx. 250 years ago and has been in the same family since 1951.
Situated in this expanding town with a new Sainsbury and housing estate being built. Waitrose, Aldi & Iceland arealy in the town.
MOST ATTRACTIVE & SPACIOUS SALES SHOP approx. 2,000 sq. ft. sales area, fully carpeted, fluorescent lighting and well equipped including 2 counters, 2 electronic cash registers, display stands, shelving etc.
2 Stockrooms
Staffroom/Kitchen
Staff w.c.
WE ARE INFORMED the turnover averages £6,000 p.w. in our opinion offering tremendous potential for further increase in the right hands, in our opinion offering further potential to increase in the right hands. In our opinion there is room for expansion with growing online sales. We are further advised that the sales year ending 31st January, 2010 showed £286,591 with a gross profit of £183,601 i.e. 64.06%.
The vendors own the freehold and subject to satisfactory references are prepared to grant in respect of the whole property a new 20 years full repairing and insuring lease at a rental of £40,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years. (As will be appreciated, with the rental income at the present time from the 2 flats and offices of £14,000 p.a. the net rental payable would currently be £26,000 p.a. exclusive of rates).
Uniform Business Rates: £9,000 p.a. approx.
AS STATED THE BUSINESS HAS BEEN IN THE SAME FAMILY SINCE 1951 AND THERE ARE GENUINE REASONS FOR SALE.
PERSONALLY INSPECTED AND HIGHLY RECOMMENDED
MUST BE SEEN TO BE FULLY APPRECIATED
OFFERS INVITED TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS in the region of £145,000 plus STOCK AT VALUATION (£30,000/£35,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
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Property: |
Leasehold |
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Living Accommodation: |
Yes |
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Details of Accommodation: |
The accommodation in the form of a SELF CONTAINED MAISONETTE over is at present let on a shorthold tenancy and provides a rental income of £450 per month. We understand that this accommodation can be vacant, if required. The accommodation has FULL GAS FIRED CENTRAL HEATING and comprises:
3 Bedrooms (2 doubles, 1 single)
Bathroom with bath, w.c. and wash hand basin
Lounge
Kitchen
In addition, to be included in the new lease, is a SELF CONTAINED FLAT WITH FULL GAS FIRED CENTRAL HEATING, which is at present let on a shorthold tenancy and providing a rental of £550 per month. We understand this accommodation comprises:
3 Bedrooms
Bathroom with bath, w.c. and wash hand basin
2 Reception Rooms
Kitchen
Also included in the proposed new lease is a First Floor Office, currently let and producing a rental income of £2,000 p.a.
Garden area. Double Garage. |
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Location: |
Situated in a parade, prime High Street trading position, KENT. The business is situated in a prime High Street position close to Boots and National Westminster Bank Plc. |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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Operated on a 6 day week basis
Monday - Saturday inclusive - 9 a.m. - 6 p.m.
NO SUNDAY TRADING |
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The business is at present operated by the vendor with the assistance of 2 full time plus 1 part time staff. |
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