JEWELLERY BUSINESS EST. 1880 FOR SALE
Price:
Freehold - £299,000
Location:
Isle of Wight , High Street
Business Type:
Retail businesses
Some 4.8m of glazed frontage display leads to a retail area via an entrance lobby of some 26.4m? (284ft?) extensively fitted for the trade with glazed display cabinets and traditional jewellery points of sale. There is a workshop to the rear, store room and utility room with shower adjacent. A part decked internal courtyard can also be accessed from here.
BASEMENT
Stairs lead to a basement of some 5.9m x 3.6m with a head height of approximately 2.2m.
ACCOMMODATION
Separately accessed kitchen/ breakfast room, lounge, sitting room, WC at first floor level with three bedrooms and bathroom/ shower room at second floor level.
The residential accommodation will be in our view most attractive to prospective purchasers offering many features such as high ceilings (3m), ornate cornicing with ceiling roses, seated bay window (lounge), solid wood panel doors, feature fire place with polished stone surround and mantle and ornate tiled harth (lounge), two separate reception rooms and Downs views from the second floor. The accommodation presents as spacious and versitile.
THE BUSINESS
Our clients have been custodians of the business since August 2006, having taken over what we understand to be the Island's second longest established jewellers since 1880. The current trade consists of the retailing jewellery. Stones set in engagement rings, pendants and earrings are produced from the on site workshop. A significant source of income are commissions and in our opninion offers an exceptional opportunity for an operator to build on the existing buoyant trade. Accounting information provided shows profits are available to the right operators.
UNIFORM BUSINESS RATE
Rateable Value - £1479.25
(2010/2011) – 41.4p without small business relief. We are advised by the owners that small business relief has been obtained on the property and rates payable to April 2010 are £757.57p. It should also be noted that the rate liability may be affected by the Government's transitional arrangements. Interested parties should make their own enquiries to confirm any rate liability.
COUNCIL TAX
The residential accommodation falls within Band B for Council Tax and we are advised by the owners that £1,107 per annum is payable to April 2010.
TENURE
We understand the premises to be freehold.
TERMS
Offers are invited in the region of £299,000 for the premises, trade, fixtures, fittings and goodwill of the business. There may be some stock available for purchase if required, by negotiation. Alternatively our clients would consider a sale and lease back of the premises. Terms by negotiation.
Well located in prominent High Street position
North Yorkshire
£ 750,000
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