We are delighted to be appointed to bring to the market this fabulous award winning boutique set in the heart of the popular and expanding market town of Wymondham, just a few miles south of Norwich city centre.

Only now being made available due to the vendors genuine change in family circumstances this is an excellent opportunity for someone new to build further on the already strong foundations that the current owner has put in place since establishing the business.

With the option to acquire the freehold of this attractive property, which would include the 1st floor apartment, or to take the ground floor on a newly granted lease, this will appeal to a broad range of potential buyers and as such we would recommend registering your interest with us at your earliest convenience.

THE BUSINESS

The business opened in 2017 and since then has gone from strength to strength despite the challenges faced during this time. They now enjoy an excellent reputation and loyal customer base and it is of no surprise that they were named South Norfolk Retailer of the Year 2022 as well as being finalists in every award they have been nominated for.

Providing a unique service in the area with stock not readily found elsewhere and lines in jewellery, handbags, fashion, homeware, gifts and similar it is clear to see why the shop is so popular both locally and online.

The business currently shows a turnover in excess of £150k and an excellent adjusted net profit of over £65k with scope to increase with further promotion and marketing via the businesses social media pages and website. Currently most sales are generated by the fantastic reputation that is enjoyed but this could really be capitalised on by a more targeted advertising approach.

PREMISES

The business operates from the ground floor of this grand looking period property which is situated prominently on the only vehicular route into the main market square of this busy town. There is short stay parking just down from the shop meaning customers can pull up close-by which is particularly helpful for those that a making a specific journey into the town just to visit the business. Additionally there are two parking spaces included with the owners title, one which is for the benefit of the shop and the other for the flat above.

The shop benefits from being light and airy thanks to the large double windows to the front as well as period features such as the high ceiling with detailed cornicing, original timber flooring and fireplace. It has been very well fitted out and now presents in excellent condition and can be operated from day one without further investment needed.

The main retail area to the front measures 5.64m x 4.72m with a customer service counter, a centre display table, further display units and good window display areas. There is a further retail area to the rear of 3.21m x 3.24m which is fitted out in a similar fashion. Behind the counter there is a hallway leading through to a staff kitchenette and toilet. There is also a further door off the main retail area which leads to a lobby and external door to the car park. There is also the further added benefit of a basement room which has been plastered, decorated and carpeted as well as having two windows to the front elevation. This makes an ideal store room and office and is approximately the same size as the front retail area on the ground floor. It could potentially be rented out separately subject to any consents that may be required if the freehold was acquired.

ACCOMMODATION

As mentioned the freehold of the property would include the 1st floor 1 bedroom flat which is currently rented out on a furnished basis. We understand that the rent being achieved is £725 per month. The flat is accessed via the communal entrance lobby to the front and up an internal staircase to their private front door.

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ADDITIONAL INFORMATION

AGENTS NOTE: This is a business for sale as a going concern, not an empty premises for sale or let.

CONFIDENTIAL INFORMATION: In order to release further information on the business – such as the accounts, we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required.

REFERENCE NUMBER: J35448E.

OPENING HOURS: 9:30am to 5:00pm Monday to Saturday. Closed Sunday.

TENURE: Freehold or Leasehold option. If leasehold then a new lease will be granted on terms to be agreed.

The purchaser will be responsible for the landlords costs and fees in connection with the grant of a new lease if applicable.

RENT PAYABLE: 15,300 per annum (£1,275 per month) – Only payable if acquired on a leasehold basis.

RATES PAYABLE: Nil. We are advised that the business benefits from Small Business Rate Relief.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

STAFF: Two part-time at the time of take on.

EPC: The commercial premises shows a rating of ‘D/76’ and the one bedroom flat a rating of ‘E/49’. Full Energy Performance Certificates are available on request.

PRICE: £443,000 for the business and the freehold interest (retail shop and flat above). £68,000 for the business and the leasehold interest, with a new lease to be negotiated.

To include the benefit of the goodwill, fixtures, fittings and equipment. Stock is payable in addition at valuation on completion if buying the business as a going concern.

£385,000 for the freehold premises only (no business included).

VIEWING: Strictly by appointment only, please get in touch to make an appointment.

FINANCE: We may be able to help you with business financing or your commercial mortgage needs, subject to eligibility. Please let us know if you need our assistance with this and we will put you in touch with our recommended whole of market broker.

BUSINESS TO SELL: Thinking of selling your business? That’s our business!

If you are interested in finding out how much your business is worth, we offer a free and confidential valuation service. You can choose the time and day that suits you best, and we will give you an honest and professional assessment. Please contact our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing our businesses in a way that sets us apart from others. We provide quality property details and comprehensive information on all online platforms and our own website. If you want your business to stand out from the crowd, call us to book a free valuation.

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DISCLAIMER

1. Money Laundering Regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets, flooring or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.