Hilton Smythe welcomes to the market Ye Olde Iron and Lock Shoppe.
Ye Olde Iron and Lock Shoppe is a well established business which has been owned and run by our client for over 30 years.
This business provides a key cutting service plus an array of hardware supplies from brooms to nuts and bolts.
Due to the length of time the business has been running they have a very loyal customer base, who are mainly residential customers from the local area.
The business is currently open limited hours as the current owner has semi-retired and is now looking to sell to be able to retire fully, we have been advised that when the business was open full-time the turnover was over £70,000 per annum.
Scope to Improve;
• Advertising and marketing campaign
• Loyalty scheme
• Extend current opening hours
Hilton Smythe highly advise early viewing to avoid disappointment.Location
Ye Olde Iron and Lock Shoppe is located along Brunswick Street in Ramsgate, with a convenient metered car park opposite to the business.
Ramsgate is a seaside town in the district of Thanet in East Kent. It was one of the great English seaside towns of the 19th century. In 2001 it had a population of around 40,000.
The premises is conveniently located 1.1 miles away from Ramsgate Train Station which lies on the Chatham Main Line, calling at stations such as Margate, Sittingbourne, Bromley and London VictoriaPremises
Full length windows and glazed doors to front creating a light airy and inviting interior.
As you enter the premises you are greeted with a small reception area with the till system and stock room to your right and the key cutting area to your left.
The first set of stairs takes you to another stockroom which also houses the office area where the the desk and filing cabinets are kept. Down the next set of stairs takes you to the basement where more stock is kept.
• Filing cabinets
• 3 x key cutting machines
• Till system
This business is being sold as a Leasehold opportunity with a brand new 10 years Lease.
Rent will be charged at £5,400 per year which is very reasonable for the size of the premises.
We are advised that there are no rates currently payable.
*There is also the opportunity to purchase the freehold for £195,000 + SAV which will include the business plus the 2 bedroom maisonette above which is currently being rented out for £500 pcm*Hours
The business is currently operating at reduced hours
Monday, Saturday & Sunday - Closed
Tuesday - Friday: 8:30 am – 12.00 pmStaff
The business is currently run solely by the current owner.Financial Profile
We are advised in 2016 the business generated;
Turnover of £30,209
Gross profit of £18,120
Net profit of £12,406
Asset value of £5,000
SAV value of £38,000