REF 7320 – Leasehold Balloon, Card & Gift ShopBlacks Brokers are pleased to bring to the market this leasehold balloon, card and gift shop located in Cannock, Staffordshire.
INTRODUCTIONCarabou was established in this busy area of Cannock in 2004 and our client took ownership in 2007. The business offers a range of cards, gifts, balloons and personalised items. It has become very well known in this area and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to this excellent trading position. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google and Facebook. Carabou has a comprehensive website in place and a strong social media following.
LOCATION
Carabou occupies a prominent trading position within a parade of shops. This bustling shopping parade has a combination of independent retailers as well as large multiples such as Tesco. The parade is serviced by a large free car park and the area is well linked by the A460 with very strong public transport links. The shop is surrounded by four large housing estates which offer an opportunity to advertise goods and services to expand the clientele. There is a new designer outlet due to open in Spring 2021 which will bring more people to the area.
REASON FOR SALE
The business is ideally suited to a hands-on owner-operator but due to our client’s retirement wishes, the business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.
LEASE
The building is available on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial lease. The current lease is an eight year lease which began in 2019. It will run at a cost of £279 per week until 2022 and then £298 per week until 2027.
STAFF
The business operates with five part time staff supporting our client and partner working on a part time basis.
FINANCIAL DETAILS
Carabou has traded solidly since opening and our client has established a strong repeat customer base. The accounts year end 31st March 2019 show that the business has an annual turnover of £172,584 with a gross profit of £86,428. Full financial information is available upon request.
BUSINESS RATES
The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.
SUMMARY
This popular and long established business occupies an enviable trading position in a busy and much sought after area of Cannock. Our client has secured a strong customer base and exceptional reputation. There is plenty of scope to develop the business further with the introduction of new online services and longer opening hours, possibly a delivery service where appropriate. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.
Trading hours:
MON - FRI: 09:30 - 17:30
SAT: 09:30 - 17:00
SUN: CLOSED
Is accommodation included?:
BUILDING LAYOUT AND DESIGN
Carabou operates from a single storey retail unit within a covered parade. The business has large branding and signage on display above a fully glazed frontage. Inside, the large shop has impressive displays of gifts, cards and balloons with a well sized storeroom next to counter. There is also a balloon work room with a small office, extra storeroom, safe/storage room and a galley kitchen. To the rear there is a toilet and another storeroom with metal doors leading onto the rear Tesco yard that the shop has access to for larger deliveries that arrive on pallets. All areas are well equipped and presented nicely.
Location Details:
Cannock
Leasehold Term:
£279Per Week
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