Business Hilton Smythe is delighted to welcome to the market this popular lingerie shop, which boasts a city centre location in Leicester.
The business was established by our client in 2013 and is only now being offered to the market, due to our client’s other business interests. The store operates 6 days per week and generates a turnover in the region of £65,000 per annum, with a gross profit of approximately 54%, as per the 2015 accounts.
Our client offers a wide range of luxurious lingerie and swimwear in a variety of styles and sizes, as well as fitting advice and consultations. The property boasts 137 sq. metres of floor space, is very well maintained and fitted out to suit the trade.
The retail area is to the ground floor, with luxury displays and hangers. Stairs from the sales floor lead to a lower ground floor and upstairs to the first floor, which is currently used for storage and a WC. The second floor offers another 2 storage rooms, while the attic offers more storage space. The upper floors could be converted in living accommodation, with the relevant planning permission, or be utilised for additional sales areas.
The business has built up an excellent reputation within the city and further afield, for the high quality of the items offered, which has resulted in a very loyal client base, with a good volume of repeat trade and word of mouth recommendations.
We feel the turnover could be increased by extending the opening hours, perhaps by offering Sunday trading. A new owner could also launch a website for the business, which could incorporate online ordering facilities, or embark on a modest marketing campaign to promote the business. Our client utilises social media presence, with pages on the popular Twitter and Facebook, which has 74 likes.
This is an excellent opportunity for a new owner, perhaps a husband and wife team or partnership, to take this already busy store to the next level; therefore, early discussions with Hilton Smythe must come highly recommended to avoid disappointment.
Location Al Millard Lingerie occupies substantial premises, ideally located within the city of Leicester, Leicestershire. The property is situated within the city centre on the pedestrianised Carts Lane and is surrounded by complementary shops and businesses, therefore benefiting from a high volume of footfall. The business also benefits from good car parking facilities within the area.
Leicester is a city and unitary authority area in the East Midlands. The city lies on the River Soar, at the edge of the National Forest. According to the 2011 census, the population of the Leicester unitary authority was circa 330,000, making it the most populous in the East Midlands. Leicester is a modern city, rich in arts, culture, sports and heritage and boasts something of interest for all ages.
The area is served by the public transport system with bus stops within easy walking distance, and the bus station is just ten minutes’ walk away. Leicester railway station is less than one mile away. The area also benefits from excellent road links, with the A47, A6 and A5460 all within easy driving distance, which link to the national A-road and motorway networks. Loughborough is approximate 12½ miles away and Hinckley is 14 miles away.
Premises Substantial premises in a prime trading location, briefly comprising:
Lower ground floor:
Currently used for storage, but could be converted as extra retail space.
Ground floor with:
Large window display area.
Bespoke display cabinets.
Shelving/racking to all walls.
Serve over counter with electronic cash register and credit/debit card terminal.
To the rear of the shop is a fire escape.
Large stock room and WC.
2 x storage rooms.
Attic room with storage space.
Tenure We are advised Leasehold:
Original lease length: 5 years
Remaining lease length: 1 year, as of 2017
Rent: £9,000 per annum
Hours The business is open:
Monday – Saturday: 10.00am – 5.00pm
Staff The business is owner run and managed.
Financial Profile The business generates a turnover in the region of £65,000 per annum, with a gross profit of approximately 54%, as per the 2015 accounts.