Art Galleries for sale in Midhurst

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Adam Warren (Jan 2017)
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Leasehold Price: £29,999 Price Reduced Turnover: £55,000 Gross Profit: £41,579
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Business Description
Hilton Smythe welcomes to the market, Brett Gallery.

Established by our client in 2017 and now offers for sale due to personal reasons.

The exquisitely presented Gallery underwent a £50,000 transformation which included new walls, flooring, lighting system and bespoke website.

The double unit offers over 1200 Sq. Ft of gallery space, the largest in the area with ability to comfortably show a minimum of 100 individual pieces.

The gallery currently specialises in showing large and unique portfolios of Limited Edition photographs from the lens of some of the great historical and contemporary photographs of our time.

It is particularly known for its extensive collection of Frank Beken, a renowned photographer who captured quintessentially English sailing yachts dating between 1885 to 1934.

Many of the images come from historical glass plate which can now be reprinted in fantastic oversized pieces with dramatic impact for any collector or Maritime enthusiast.

Our client also shows a further 7 artists with exclusive collections only available in this gallery, all with agreements in place. Subject matter included wildlife, landscape and abstract photography.

There are over 450 private customers held on the Gallery's database with many collectors making this a destination visit when in England. 90% of current sales is derived from walk in customers and 10% from online enquiries.

Any new owner may look increase the customer base by adding new collections and painted works.

Currently run to suit our client, there is no active marketing strategy in place. Organising more Gallery shows, and events would increase footfall/revenue.

The Gallery is currently run in conjunction with our clients Framing business which is located in nearby Chichester.

The businesses work very well together as the size of the pieces shown here require a specialist framer, it would make an ideal dual purchase for anyone looking to relocate to this charming area.

Full handover offered.

The unique opportunity is priced sensibly to attract early attention and early viewing is recommended.

Brett Gallery occupies a desirable corner position on West Street/A272 in Midhurst, West Sussex.

The double unit enjoys an excellent position within the heart of Midhurst and the A272 attracts over 4.5 million cars driving past the Gallery each year.

Midhurst is a beautiful Market Town in the heart of the South Downs, approx. 12 Miles North of Chichester and 25 miles South of Guildford.

There is an eclectic mix of independent retailers, cafes and restaurants including breath-taking walks and places to visit including Cowdray House.

The Gallery benefits from a having a large car park directly behind.

Ground floor only Gallery with 2 adjoining units.

The Gallery contemporary decor complements to exposed beams and age of the building as well as the stunning black and white photographs.

There is a bespoke lighting system throughout, new underfloor heating, 25 walls to display the collections including 6 window walls which light up in the evening.

There ae toilet facilities, storeroom and staff kitchen to the rear of the units.

We are advised the business is been sold as a Leasehold opportunity with 2 years remaining on a renewable 5-year Lease.

Rent is £26,820 per annum (includes VAT) and there is £7,700 rent deposit held by the Landlord.

We are advised the current rates payable are £9,000 per year.

Monday to Saturday – 10.00 am – 6.00 pm

Sunday - closed - opportunity to open

The business is currently owned and managed by our client with no staff currently employed.

Financial Profile
We are advised the business is run to suit and therefore turnover as of the 2017 accounts showed £55,000 with a gross profit of £41,579, net profit in the region of £6,453.

Valuation based on the extensive assets including in the sale and bespoke website.

Tenure: Leasehold

Listed by: Hilton Smythe

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