Clothes Shops for sale in Ilminster

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Long Established Somerset Menswear Retailer

Ilminster, Somerset, England

  • Leasehold Price: £79,999
Seller Reference: 1293
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Business Description
 
 
 
 
 
 
 
 
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Seller Reference: 1293
Request Details
Business Description
• Long established Menswear retailer
• Stocks a wide range of clothing for all ages and pockets
• Well-presented throughout
• Located in sought after Somerset town
• Healthy turnover and profits with scope to improve
• Excellent local reputation for first class service
• 3 bedroom flat
• Desirable town centre trading position
• Fantastic change of lifestyle opportunity
• Good mix of complementary businesses nearby

Falcon Commercial is delighted to offer for sale this extremely well-presented Menswear Retailer which occupies a prime trading position on one of the main shopping streets in this popular Somerset town. Harrimans has been serving the local area since 1910, being established at this site for over 50 years, and has been under the proud ownership of our clients since 1997. It is now reluctantly being placed on the market as the owner wishes to retire.
During our client’s stewardship the business has built up an excellent reputation for its welcoming atmosphere, friendly service and fantastic selection.

This well presented turnkey retail business enjoys a central town centre trading position on a busy shopping street with good pedestrian flow. Shoppers are attracted to the area by the range of independent and multiple owned businesses on offer. This rarely available opportunity has established itself as the area’s premier retailer of a wide variety of men’s clothing as well as offering Dinner suit and wedding hire along with alterations. This is largely due to the professional way the business is run with excellent presentation along with knowledgeable and friendly staff.

Harrimans enjoys an all year-round trade. Sales are in the region of £135,000 with excellent gross profit margins.

The Premises
Substantial leasehold building, benefiting from being in a highly visible position on the main road that runs through Ilminster.
The premises are fitted and presented to create highly functional internal business accommodation with a good size 3 bedroom flat above which is let out to provide additional income.
The premises briefly comprise:

Retail Space

Ground Floor
• Main sales area
• Second sales area
• Office/ Store with customer changing room
• Toilet

First Floor
• 2 store rooms

Flat
First Floor
• Kitchen
• Double bedroom
• Lounge

Second Floor
• Bathroom
• Double bedroom
• Double bedroom

External
• Rear garden

Business Details

Opening Hours
• 9.00am – 5.30pm Monday, Tuesday, Wednesday & Friday
• 9.00am – 2.00pm Thursday
• 9.00am – 5.00pm Saturday
• Closed Sunday and Bank Holidays

Business Rates
Business rates payable: TBC
Interested parties should make their own enquiries of the local billing authority to ascertain the exact rates payable or enquiries can be made online at the VOA website www.voa.gov.uk

Stock
The business stock value is: £60,000

Staff
The business is run by the proprietor with help from a dedicated team of part time staff who work on an agreed rota basis.

EPC
Commercial Energy Performance rating: TBC

Tenure
• Leasehold.
• The business is offered for sale on a leasehold basis. The current lease is for a period of 15 years and has 3 years remaining. The annual rent payable is £9,000 per year.

Legal Costs
Each party to bear their own legal costs incurred in the transaction.

Accounts
Accounts will be provided to genuine purchasers after a formal viewing

Viewing
Strictly by appointment with the vendor's agents, Falcon Commercial, Second Floor Offices, 114/116 High Street Honiton EX14 1JP on 01404 758081

Agents Note
Please remember that selling a business can be a sensitive issue and staff or suppliers may not be aware of a sale at this point. Do not attempt to contact the business directly. Thankyou
Tenure:
Leasehold
Leasehold Term:
The business is offered for sale on a leasehold basis. The current lease is for a period of 15 years and has 3 years remaining. The annual rent payable is £9,000 per year.
Listed by:
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