Model Shops for sale in Gosport

View the "MODEL RAILWAY & REMOTE CONTROLLED MODELS SHOP" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 Thanks to your email alerts I found & have recently completed on the purchase of a Hotel in Scotland 

Ian McGregor (Nov 2013)
View More
Leasehold Price: £9,950 Annual Turnover: £79,913
Request Details
Business Description
LOCATION:

Retail shop with a prime corner position on a popular bus route in a mixed trading area of Gosport featuring hair salons, estate agents, news and convenience stores, pubs, fast food take-aways and a shoe repair business. There is free One Hour, on-street parking. Development of the town has been influenced over the years by the naval dockyard. After serious damage caused by bombing during World War II, the old Town was redeveloped in the late 1960's, with a lot of the older buildings being demolished. The Renaissance of Portsmouth and the Harbour Millennium Scheme is a new major development opportunity associated with the release of redundant military sites and will rejuvenate Gosport, providing new jobs and leisure attractions for residents and visitors. The Government has now given both Hampshire County Council and Portsmouth City Council approval to build a new tram scheme, the 'Light Rapid Transit Link'. This will connect Fareham, Gosport and Portsmouth and will provide a fast and frequent public transport service. A tunnel under the entrance of Portsmouth Harbour will provide stops at Gosport Esplanade and the Hard Interchange in Portsmouth. Gosport's peninsular location, with 17 miles of water-frontage, offers plenty of beaches and safe swimming. The town has a wide choice of shops, places to eat, famous pubs and sporting facilities. The Esplanade with its distinctive tower block entrance to the Borough and Harbour, contrasts with the delights of the High Street area with its narrow alleys.

BUSINESS:
A rare opportunity to acquire an interesting and well-supported model business, this long-established and major stockist of Hornby/Scalextric products is popular with hobbyists. The vendor reluctantly offers his business for sale because of his partner's job move to Essex. The vendor's home is already on the market so an early offer will be appreciated. The realistic asking price reflects the vendor's desire to achieve an early completion. Although currently trading in Gosport, the vendor believes a buyer could successfully relocate the business anywhere along the South Coast as buyers from local modelling clubs will continue to support the business. Although price competition from online sellers is challenging, customers appreciate and value the ready availability of the item, on-site service and repairs and the expertise of the vendor.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The modern ground floor business premises enjoy a prominent corner trading position. 14ft wide hardwood glazed window and casement door frontage x 26ft in depth offering 350 sq ft/33 sq m of retail space. There is a small kitchen, toilet and store cupboard to the rear with a door leading to a car parking space and bin store; both are included in the lease.

Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)

There is no private accommodation included with this opportunity

OUTSIDE:

There is free One Hour parking on a popular bus route in a mixed trading area featuring hair salons, estate agents, news and convenience stores, pubs, fast food take-aways and a shoe repair business to name a few.

TENURE:

This is a leasehold opportunity with a 5-year lease in place which expires on the 31st of January 2018. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £5,000 per year. There is no provision for the rent to be reviewed within the existing lease.

Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:

The rateable value of the business premises falls below the rateable threshold therefore zero rates are payable.

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 there is mains electricity, no gas supply and water is metered.

TRADE:

Under the current owner's management, sales have grown 23% year on year. VAT returns inspected by Adams & Co for the 12 month trading period ended 30 September 2015 show sales of £79,913. Accounts inspected for the year ended 31 March 2015 show turnover of £67,243. Sales to 31 March 2014 reached £54,578.

Please note that if a business is VAT registered, all figures exclude VAT.

HOURS:

Sun/Mon Closed
Tues/Wed 9.30am - 4.00pm
Thurs/Fri 9.30am - 5.00pm
Saturday 9.00am - 5.00pm

STAFF:
Other than a part-time assistant who covers the owner's holiday and other occasional absences from the shop, there are no employed staff.

STOCK:

The vendor informs us that the value of the stock at cost fluctuates throughout the year but averages £50,000.

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:

The vendor reluctantly offers his business for sale because of his partner's job move to Essex. The vendor's home is already on the market so an early offer will be appreciated. The realistic asking price reflects the vendor's desire to achieve an early completion.

Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
Tenure: Leasehold

Location Details:

Retail shop with a prime corner position on a popular bus route in a mixed trading area of Gosport featuring hair salons, estate agents, news and convenience stores, pubs, fast food take-aways and a shoe repair business. There is free One Hour, on-street parking.

Leasehold Term:

This is a leasehold opportunity with a 5-year lease in place which expires on the 31st of January 2018. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £5,000 per year. There is no provision for the rent to be reviewed within the existing lease.

Is this business relocatable: Yes

Listed by: Adams & Co
Find out more about this business for sale opportunity by submitting the form below.
Contact Details Fields marked with an * are required by the seller
* * *
* * *
* *
* *

What happens next?
  • 1We send your email to the business seller
  • 2They will be in contact with you as soon as possible
Would you like ASC to contact you about finance options?
This is a no-obligation service. You will ONLY be contacted by your local
ASC Finance director. Your details will not be passed on to any third party.

HW1488
Seller Reference:
Bookmark and Share
You May Also Like...
loading...