Ladieswear Retailers for sale in Bishop's Waltham

View the "DRESS AGENCY IN AFFLUENT HISTORIC HAMPSHIRE TOWN CENTRE" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

 We were absolutely overwhelmed by the response to our sales advertisement for our Bath Coffee Shop. 

Mike Watts and Wendy Race (September 2016)
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Leasehold Price: £19,950 Annual Turnover: £64,976 Annual Gross Profit: £38,985 Annual Net Profit: £12,500
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Business Description
LOCATION:

The business operates from modern single storey premises in a quiet courtyard in the centre of an historic, medieval Hampshire market town. Equidistant from Winchester, Fareham and Petersfield the town is easily accessible to its many regular clients. The town is a popular shopping destination for "Ladies Who Lunch" and the large, free, on-site car park makes this business even more attractive for clients enjoying a day out with friends.

BUSINESS:

Acquired by the vendor 8 years ago, this established business offers a discreet "Sale or Return" service for high quality casual wear, wedding outfits, ball-gowns, hats, shoes, handbags and accessories. Built up over the past 30 years, the business has a loyal following with regular clients seeking out high quality clothing at affordable prices. Set in a quiet court yard with free parking, it's the perfect place to discretely sell your clothes and find that special outfit at a fraction of the original cost. With new stock arriving daily clients are encouraged to make regular visits to the store. Vendor advises huge scope to grow the business by re-introducing charity fashion shows and updating both the website and Facebook with new photos. No stock to purchase as all stock displayed is on "Sale or Return". Vendor keeps 60% of sale proceeds. Large free car park included in the 9 year lease.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)

These light and airy, modern, brick-built premises offers 1,125 sq ft /104 sq m of net internal area. Carpeted throughout there are three principal retail areas:
Retail Area 1: 35'/10.6m x 15'9/4.9m (550 sq ft/51 sq m)
Retail Area 2: 18'6"/5.6m x 16'/4.9m (296 sq ft/27.5sq m) Ball Gowns: 12'/3.6m x 10'/3m (120 sq ft/11 sq m)
Dressing Room: 16'/4.9m x 6'6/2.0m (104 sq ft/9.6 sq m)
In addition are kitchen and toilet facilities.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
There is no private accommodation included with this opportunity

OUTSIDE:

There is a spacious car park included in the lease with room for up to 6 cars. The business has sole use of the car park at week-ends allowing room for up to 15 cars.

TENURE:

This is a leasehold opportunity with a 9 year lease in place expiring end-September 2020. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £12,500 per year. There are 4-yearly rent reviews with the next review due in 2020.
Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:
The rateable value of the business premises is £12,500, with rates of £812.10 payable in 2017/18.
NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

SERVICES:

We understand from the vendor that mains gas, electricity and mains drainage services are connected to the property.

TRADE:

Accounts inspected by Adams & Co show sales proceeds totalled £64,976 for the year ended 31 March 2017. There is no cost of stock as the business operates on a "Sale or Return" basis with the business owner retaining 60% of sale proceeds. Net profits are approximately £12,500.
Please note the business is not VAT registered so all figures exclude VAT.

HOURS:

Monday to Saturday 09:30 to 16:30
Sunday Closed
The business is closed on Mondays in January and August.

STAFF:

The vendor does not work full time in the business but attends for one hour each day from 3:30 to closing. The vendor also helps out during staff absences for sickness or holidays. There are 4 employees who run the shop between them on a rota basis. With the exception of one member of staff, the employees are keen to stay on after the sale.

LEGAL FEES:

Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.

COMMENTS:

There is an Annual Service Charge plus a £50 Car Park maintenance Charge payable. The Vendor advises that a new owner attending more fashion shows and devoting more time refreshing the online presence including Facebook would result in significant increases to revenues.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

LOCAL AUTHORITY:

Winchester City Council Telno: 01962 712602

VIEWING

If you wish to discuss this business opportunity in greater detail, or arrange an appointment, please call Nick on (023) 8025 3910

PLEASE DO NOT MAKE CONTACT DIRECTLY WITH THE BUSINESS

APPOINTMENT TO VIEW

We will be pleased to make arrangements for you to view the property and business. All viewings must be by appointment, which we will arrange, following a brief discussion as to the potential buyers' financial position and their ability to proceed.

ALL NEGOTIATIONS MUST BE THROUGH THIS OFFICE

ADDITIONAL SERVICES

When purchasing a business (particularly for the first time) there are many important issues to consider and organise. With over 60 years' experience of the Business Transfer market, Adams & Co are ideally placed to help purchasers. We are able to arrange competitive finance, insurance and stock-takers, if required.
Please telephone Nick on 023 8025 3910 for further information.
Trading Hours:
Monday to Saturday 09:30 to 16:30
Sunday Closed
The business is closed on Mondays in January and August.

Number of Employees:
The vendor does not work full time in the business but attends for one hour each day from 3:30 to cl

Tenure: Leasehold

Location Details:
The business operates from modern single storey premises in a quiet courtyard in the centre of an historic, medieval Hampshire market town. Equidistant from Winchester, Fareham and Petersfield

Leasehold Term:
This is a leasehold opportunity with a 9 year lease in place expiring end-September 2020. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £12,500 per year. There are 4-yearly rent reviews with the next review due in 2020.

Listed by: Adams & Co
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HW1507
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