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ELEGANT LADIES FASHION RETAIL SHOP
Price:
Leasehold - £29,000
Location:
Hampshire , Town Centre, Romsey
Business Type:
Retail businesses
AFFLUENT HAMPSHIRE MARKET TOWN
TIMELESS CLASSICS & LOYAL CLIENT BASE
PROMINENT CORNER TRADING POSITION
ESTABLISHED 26 YEARS GOOD NET ROFITS
TURNOVER £113,142 WITH 60% GROSS PROFITS
RETIREMENT SALE
LOCATION:
The ancient market town of Romsey in Hampshire has a population of approx. 17,000. The massive Norman Abbey dominates the town. The Market Place, dating from shortly after the Abbey, retains much of its original shape. With easy access from the M27 and M3, the town is ideally situated for commerce and also has a number of tourist attractions in close proximity. These include Winchester and its Cathedral to the north-east; Southampton, with its deep-water port, sailing facilities, large and varied specialist & independent shops, West Quay Retail Centre and the City Art Gallery with over 3,500 works of art spanning six centuries; the world-famous Sir Harold Hillier Gardens (a Mecca for anyone interested in horticulture) and offering numerous events throughout the year, including open-air theatre, music & opera productions; Mottisfont with its National Collection of Roses; and, finally, Broadlands, home to the Mountbatten family, with royal and historic associations, is considered one of the finest examples of mid-Georgian architecture in the country and also landscaped by the great Capability Brown. There are a number of signposted walks in the surrounding country, including the Keble Way, and Romsey is on the edge of the New Forest. All of these, the attractive town and surrounding areas of interest, contribute to creating an attractive place to live and work.
BUSINESS:
A traditional ladies' fashion shop. It has been trading with the same owners in Romsey for the past 26 years and from the current site for the past 10 years. The shop stocks a popular range of separates, jackets, coats, anoraks, trousers and knitwear by Poppy, Casa Mia, Signature, Brandtex, Brendella, Double Two, Peter James, Castle of Ireland, Oscar-B, Steilman, Klassik, Constance Wood and others. The Vendors have developed this range of independent labels offering them the freedom to set their own retail prices and gross margins free of competitive market pressures. The Owners now wish to retire.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The retail floor measures 33'0" x 14'6" (450 sq ft) /10m x 4.4 m (44 sq m) with a selection of gondolas, hanging rails and garment displays. There are two changing cubicles, a kitchen measuring 8'6" x 4'4" (36sq ft)/2.7m x 1.3m (3.5sq m), two WC's and a stock room.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
OUTSIDE:
The shop occupies a prime corner position in the centre of Romsey. There is significant passing trade.
TENURE:
The premises are secured on a renewable, fully repairing and insuring 6 year lease which commenced on 1 March 2007 at a current annual rent of £15,000. There are 3-yearly rent reviews with the next review due in January 2013.
RATES:
The rateable value of the business premises is £16,500, with rates of £6,831 payable in 2010/11.
NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.
SERVICES:
We understand from the vendor that mains electricity and mains drainage services are connected to the property.
TRADE:
Turnover according to the last four VAT returns to the end of August 2010 reached £113,142. Accounts for the previous 2 years show gross margins of 60%.
Please note that if a business is VAT registered, all figures exclude VAT.
HOURS:
Monday to Saturday 09.00 to 17.30
Sunday Closed
STAFF:
A full time manageress runs the shop 4 days per week working 28 hours. She is supported by 3 part time staff covering a total of 34 hours between them.
STOCK:
The vendor informs us that the value of the stock is approximately £10,000.
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.
COMMENTS:
Here is an excellent opportunity for a full time, hands-on owner to build on the solid foundations laid down by the Vendor over the past 26 years.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
Prime Corner Position in the centre of the shopping area
The premises are secured on a renewable, fully repairing and insuring 6 year lease which commenced on 1 March 2007 at a current annual rent of £15,000. There are 3-yearly rent reviews with the next review due in January 2013.
North Yorkshire
£ 750,000
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