• 3 INTERCONNECTING SHOP UNITS IN PERIOD BUILDING
• 2 DISTINCT BUT COMPLEMENTARY TRADING STYLES
• VALUABLE NETWORK OF SOURCES AND SUPPLIERS
• EXCELLENT TRADING HISTORY
• FULL EXTERNAL AND INTERNAL VIEWING ESSENTIAL
Nailsworth is a lively artistic Cotswold town, full of surprises. Nestling in a wooded valley, it has a population of 5800 (2011 Census) and is renowned for its award winning restaurants, pubs, cafes and an eclectic mix of attractive independently owned businesses as well as having the largest number of working water mills per square mile anywhere in the country. Lying on the busy and scenic A46 linking Stroud to Bath, the town is easily accessed and with Stroud helps to serve the generally wealthy population of this part of the Western Cotswolds.
This long established and most successful, independently owned business offers a stunning range of restored antique pine furniture and stylish period sofas as well as ex display and nearly new sofas from top High Street stores alongside a wide range of new furniture and accessories including mirrors, lighting, pictures and frames plus exclusive Swedish, Continental and East Coast American style collections. Restoration work is carried out by an outside restoration team.
The business comprises two distinctive trading names with separate websites (www.mother-hubbard.com and www.concepteastcoast.co.uk) the regular sources of stock for restoration and new product suppliers both in the UK and worldwide having been built up selectively over the years.
A remunerative relationship has recently been developed with a major coffee shop chain which is expanding rapidly in the UK. This involves the manufacture and supply of lighting using connections in Poland and India and further orders are anticipated over the coming years.
The business has a good trading history and is profitable with a growing trend in sales over recent years. The successful trading pattern is clearly influenced by the attractive Cotswold location, the hard work of the current owner over the years and the strong supplier relationships in place and it is felt this business is well placed to out-perform the retail sector under new and energetic ownership.
The vendor asks politely that all enquiries be routed through Adams & Co please and on no account should any direct approach be made to the business.
The business was founded by the current owner in 1994, originally trading from an old mill premises in the town. Over the years the vendor has taken advantage of opportunities to secure better premises as they have arisen and the operation has been trading from the three inter-connecting units at the current town centre location since 2012.
Please note that if a business is VAT registered, all figures exclude VAT.
Sales of £274,126 were reported for the year ended 30 April 2015 which generated a gross profit of £137,985 (49.7%) and produced an adjusted net profit of £40,550 for the year before bank charges, accountancy and professional fees and depreciation.
Sales for 2016 are at a very similar level and copy Vat returns can be made available to confirm this.
REASON FOR SALE:
The vendor is now planning to retire.
The vendor tends to limit her working in the shop to one day per week. The business is operated with the assistance of 3 part-time shop staff including a manageress (3.5 days per week), a further shop assistant (2.5 days per week) and the vendor’s daughter (1.5 days per week). Restoration work is carried out with the assistance of a further part-time employee (3 days per week) who also assists the vendor’s husband with collections and deliveries as required. It is clear that there is potential for wages savings for a new owner who works full-time.
Monday to Saturday: 9.00am to 5.30pm
Sunday: 11.00am to 4.00pm
(all sizes are approximate & should be considered 'nominal'.)
The business occupies the ground floor of three interconnecting shop units forming part of a former Masonic Hall dating from 1810 of most attractive stone construction in a wonderful trading position in the very centre of the town close to the main car park, opposite the famous water fountain and period town clock tower.
The building and its position is most imposing with a very attractive aspect both to the front and side. The shop units having formerly been separate with their own entrances and ancillary facilities, the business benefits from considerable display window space as well as most welcoming reception areas on two sides.
Attractively presented throughout and tastefully decorated to take advantage of period features, the ambience is boosted by the ever changing collection of restored, antique and contemporary furniture, fixtures and fittings. In our opinion, the proportions of the retail areas and their layout can properly be appreciated only from a full external and internal inspection which is strongly recommended.
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
(all sizes are approximate & should be considered 'nominal'.)
A private car park lies close to the block of property with 3 spaces allocated to the business, i.e. one for each of the shop units.
The vendor advises that each of the three shops has its own lease with current monthly rents of £650, £650 and £1,050 respectively, i.e. a combined current rent of £2,350pm. Two of the leases are for the same term, having been renewed for 10 years in December 2015 with a break clause available to the tenant at 3 years. The third (one of the £650 ones – Unit 5A) is also a 10 year lease ending in December 2021 but with ne break clause. We understand that the leases are drawn on shop front and internal repairing and insuring terms.
A further large storage unit and workshop area, located approximately one mile from the main retail outlets on the Bottle Green Trading Estate at Woodchester, is rented on a flexible basis from a friend of the vendor at £600pm to include business rates.
ENERGY PERFORMANCE RATING:
Energy Performance Certificate No: 9104 3065 0379 0600 5491
Energy Performance Asset Rating: 94 Category D
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