Clothes Shops for sale in Tyne and Wear

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S Martin (Feb 2013)
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Leasehold Price: £34,950 Price Reduced Turnover: £99,110
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Business Description
BUSINESS

Hilton Smythe welcomes to the market the high end children’s clothes shop Kool Kidz.

The business was established over 11 years ago, with our client continuing to build this successful business since inception in 2013.  The business reports a healthy turnover of £99,000 for this financial year. VAT is not payable on children’s clothing, this a great plus that benefits the turnover figure. Business rates are also non-vatable.

Kool Kidz retails clothing, shoes and accessories for babies, toddlers and kids with stock changing throughout the seasons.  The business boasts exclusivity rights in the region for brands such as Little Darling, Tutto Piccolo, Co-Co, Nini, Abella, Satila, Lelli Kelly, Mayoral and Laranjinha plus many more brands.   The store is very well known in the area, seeing a high amount of repeat trade and further benefits from passing trade due to the fantastic location within the town centre.

The store is beautifully presented both externally and internally with products clearly displayed into age groups.  On the second floor is a further retail area currently mostly utilised for storage.  This space opens up the potential to extend the current lines or introduce new merchandise into the store.

The business has a user friendly website www.kool-kidz.com with an e-commerce section, although we are advised this feature has not been promoted.  We believe with a modest marketing campaign the potential to increase sales on-line could prove very lucrative.  The business also has a presence on social media website Facebook with over 4600 likes and regular features and updates.

Early viewing of this turnkey business venture is highly recommended with the business genuinely coming to the market due to our client’s other interests and family commitments. Our client would also be willing to pay the purchasers solicitors costs.

LOCATION

The business is located in the historic town of Houghton-Le-Spring, Tyne and Wear.

Kool Kidz occupies a prime trading location on the main road at the heart of the town centre with a collection of local and national retailers, cafes, post office, convenience store, bookmakers and other retail businesses nearby.  We are advised a new Lidl store is being built to the rear of this business which can only increase the already high footfall in the area.  The business benefits from.  free car parking nearby.

The area of the business is well-served by the public transport system, with a bus stop a short walk away. The nearest railway station is just over 6 miles away in Seaham. The area is also well-served by the A-roads, with the business being located just off the A182, which links to the national A-road and motorway networks. Durham is approximately 7½ miles away and Sunderland is 10 miles away.

PREMISES

Well-presented and colourful frontage with vibrant signage.

Ground

Main entrance from street into spacious and bright retail premises.  Perimeter and centre displays throughout the ground floor with the serving point and till to the rear.

To the right are stairs leading up to the first floor.

First

This opens up into another retail area, fitted out with shelving and display stands, although it is mainly used by the current owner for storage.

To the rear is a kitchen area and a separate office.

A rear exit on the first floor leads to a car park and access to the new Lidl supermarket currently under construction. A brick built building houses the toilet for staff.

All general fixtures and fittings, display stands, racks and rails are included.

Electronic shutters to the front, CCTV throughout the store and an alarm provide the security. The rear exit on the first floor is also secured with CCTV, a steel security door and electric shutters.

TENURE

We are advised leasehold

The original lease length is 10 years

4 years remain on the lease but can be negotiated.

Rent is £930 per month.

We are advised that there is a new 10 lease available and the current rent cost could be negotiated.

HOURS

The business opens:-

Monday to Saturday 9.00am – 5.00pm

Sunday: Closed

STAFF

The business is owner run and managed with the assistance of 1 part time member of staff.

FINANCIAL PROFILE

The business reports a healthy turnover of £99,000 as per 2016 accounts.

Tenure: Leasehold

Listed by: Hilton Smythe
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