Luggage and Handbag Retailer For Sale

Business description

Listed Building

Attractive single fronted SALES SHOP approx. 330 sq. ft. sales area with woodstrip floor, suspended ceiling. The equipment includes glass display counter, attractive shelving, window display shelving, upright glass display cabinet etc.

Rear staircase to first floor comprising:
2 storerooms

In addition there is an internal staircase from the ground floor and indeed a separate external front door access to large basement (all recently refurbished to a high standard. In our opinion the basement area has potential for a number of uses, subject to the necessary landlords and indeed planning permission.

Property information

Property:

Leasehold

Lease terms:

We understand the premises are held on a secure renewable lease having 15 years unexpired from June, 2007 at a rental of £38,800 p.a. plus VAT, exclusive of rates up to June, 2012, with rent review at that time and thereafter every 5 years. In addition we understand there is a current service charge of approximately £7,200 p.a.

Uniform Business Rates: £18,000 p.a. approx. + water rates

THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 12 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Location:

Situated in a prime trading position, CITY OF LONDON

Business Operation

Expansion potential:

WE ARE INFORMED the turnover currently averages £4,000/£4,500 p.w. in our opinion offering tremendous potential for further increase in the right hands. We are further advised that the sales year ending 31st March, 2011 showed £222,277 with a gross profit of £99,307.

Reasons for selling:

OFFERS INVITED TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £25,000 plus STOCK AT VALUATION (£30,000 approx. should reduce after the Christmas period). SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

Strict 5 day week.
Monday - Friday inclusive - 9.30 a.m. - 5.30 p.m.
CLOSED ALL DAY SATURDAY & SUNDAY

Employees:

The business is at present operated by one of the partners with the assistance of 2 part time staff.

Other information

Financing available:

Please call Nationwide Businesses who will be pleased to help you with finance