Art Galleries for sale in Cheltenham

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Thriving, beautifully presented and much loved art and gift gallery

Cheltenham, Gloucestershire, England

  • Leasehold Price: £125,000
  • Under Offer
  • Annual Turnover: £235,000
  • Annual Net Profit: £70,500
Seller Reference: PAX064722037
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Seller Reference: PAX064722037
Request Details
Business Description
Fed up with the rat race? Want to work for yourself, selling beautiful things to friendly people for lovely reasons? Look no further than this for a wonderful business opportunity.

Park Gallery is a charming art and gift gallery presenting three floors of fabulous collections of original paintings and limited edition prints, as well as hand made ceramics, glass and bronze sculptures from a host of outstanding British artists in the heart of Montpellier, Cheltenham’s premier shopping district right here in the Cotswolds.

Park Gallery is a thriving art gallery which has grown from strength to strength since the current owners established the business in 2017 enjoying double digit year on year growth since opening, including 2020 and the various Covid-19 Lockdowns.

This has been achieved by creating a clearly defined and unique proposition of a gallery for everyone with handmade and original art priced to match all budgets for our large, local customer base, as well as leveraging the frequent Cheltenham festivals which bring tens of thousands of visitors to this affluent town every year and developing a strong and successful online presence driven by highly active and engaging social media campaigns.

The current owners are planning their retirement and are looking to sell this thriving business as a going concern.

Superbly located in the heart of Montpellier, Cheltenham’s premier shopping district, Park Gallery nestles between Montpellier Gardens and Imperial Gardens on Montpellier Avenue, the main road into Cheltenham’s Promenade and town centre which is just a short stroll away.

Surrounded by top quality hotels including The Queens, Malmaison and Hotel De Vin, stunning restaurants including The Ivy, 131 and Brasserie Blanc as well as a host of cafes and bars, this unique location ensures that Park Gallery is ideally situated to make the very best from the many visitors as well as the various Cheltenham festivals which are scheduled throughout the year.

As well as the world famous Cheltenham Racing Festival held in March every year, the race course also hosts ten other meetings during the year. Cheltenham’s vibrant festival calendar which includes the internationally acclaimed Jazz, Science, Music and Sunday Times Literature Festivals, are all held in the gardens surrounding Park Gallery.

Situated in the heart of the Cotswolds, Cheltenham is a beautiful regency spa town visited by tens of thousands of people every year and boasting a population catchment of over half a million people. With links to London, Birmingham and Bristol, Cheltenham was voted one of the Sunday Times most desirable places to live. Home to some of the most sought after private schools in the country including Cheltenham College and Cheltenham Ladies College, Cheltenham's Regency architecture and stunning green spaces as well as a lively dining and entertainment scene make for a fabulous place to live. Add to that the endless festivals that take place in the town throughout the year and you are truly spoilt for choice.

KEY FEATURES
• Wonderful opportunity to run your own business, be your own boss and wave goodbye to the rat race
• Perfectly located Art and Gift Gallery trading on three floors in the heart of Montpellier, Cheltenham’s arts quarter and premier shopping district
• Visit Cheltenham - https://www.visitcheltenham.com/explore-the-area/districts/montpellier
• Evenlode Films and Productions: Montpellier Cheltenham - https://www.youtube.com/watch?v=PU53sQSeoBw
• Successfully trading since 2017 with double digit year on year growth every year since opening, including 2020 and during the Covid lockdowns
• Strong and well established stable of over 60 British artists and makers
• Fully transactional website www.parkgallery.co.uk powered by Shopify accounting for 35% of turnover with an integrated Own Art Pay by Finance option
• Strong presence on multiple social media platforms
• Established customer base of over 750 ‘Crew Members’
• Annual turnover in excess of £235k
• Gross Margin 75%
• Net Margin 30%
• Annual stand allocation at the Fresh : Art Fair - https://www.freshartfair.net/
• Fabulous lifestyle working opportunity
• Closed in January for overseas winter holidays
• Flexible trading hours (Currently 11am - 4pm five days a week)
• Opportunity to develop the business further with extended opening hours and increased range and offer
• Member of the English Arts Council Own Art scheme
• Consistently ranked in the top three Art Galleries in Cheltenham on Trip Advisor with a 5 star rating
• Awarded Cotswold Art Gallery of the Year in the 2019 Cotswolds Awards - https://www.cotswoldsconcierge.co.uk/cotswolds-awards-2019/
• Nominated for Art Gallery of the Year in the 2021 Muddy Stiletto awards
• Benefiting from Cheltenham’s fabulous Festivals Calendar - https://www.cheltenhamfestivals.com/
• Home of British jump racing - https://www.thejockeyclub.co.uk/cheltenham/
• Organic annual growth still developing since opening as the local population has become more and more aware of the gallery

THE SPACE
• Over 60 square meters (645 sq ft) of trading space across three floors
• Large Regency style display window
• High quality window and ceiling spot lighting throughout sourced from Illuma
• Professional gallery picture display system throughout sourced from Lion
• Well appointed display tables, easels, pedestals and shelving
• Sales counter, till and PDQ
• Shop floor stock storage areas equipped with shelving
• Staff kitchen, including fridge, microwave, tea and coffee making facilities
• Staff toilets on top floor and in basement
• Large top floor stock room with bespoke shelving for paintings
• Office space with shelving, storage, desk and printer
• Basement storage area

THE NUMBERS

Turnover for the last five years
2017 £65k (Six months trading July to December inclusive)
2018 £128k
2019 £171k
2020 £185k
2021 £236k forecast based on current sales calendar year to date (Jan to May incl.)

Pitch 97%
Sales Density £365 per square foot
Gross Margin 75%
Net Margin 30%

Rent and Rates
• Monthly rent is £1583.33
• New 5 year lease is available with an option to renew for a further five years
• Business rates are £13 per month due to small business rates relief as the property’s rateable value falls under £15,000 (£12,250)

Reason for sale - Retirement

Price - £125,000 to include all fixtures and fittings

Stock at value charged separately - Currently £20k

Return on Investment - 21 months

HANDOVER SUPPORT
The current owners are very happy to agree to a defined handover period which will include full training on the Gallery systems, website and social media platforms as well as facilitating introductions to artists and makers to ensure a smooth transition of this exceptionally successful business to the new owners.

CONTACT
Steve 07802 473122
steve@parkgallery.co.uk
Trading hours:
Tuesday - Saturday 11am - 4pm
Number of employees:
2
Tenure:
Leasehold
Support and Training:
The current owners are very happy to agree to a defined handover period which will include full training on the Gallery systems, website and social media platforms as well as facilitating introductions to artists and makers to ensure a smooth transition of this exceptionally successful business to the new owners.
Location Details:
Perfectly located Art and Gift Gallery trading on three floors in the heart of Montpellier, Cheltenham’s premier shopping district.
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