West Cornwall Stylish Independent Wine Shop For Sale

Business description

Highlights:
• stylish independent wine shop in west cornwall
• superb premises in town centre location
• long established with excellent reputation
• ideal business for a committed couple
• unexploited further growth potential
• eminently suitable as semi retirement project

LOCATION:
Penzance is the most westerly major town in Cornwall. Situated in the shelter of Mounts Bay, the town faces South East onto the English Channel and is bordered to the West by the fishing port of Newlyn. It has a population of 21,168.

The town stands on the A30 trunk road, the railway station is the most southerly on the UK’s mainline network and both a ferry and helicopter service are operated to The Isles of Scilly.

The economy consists of light industrial, tourism and retail businesses as well as a number of public and commercial art galleries in view of the town’s association with the Newlyn School. The town centre is always busy serving as it does a wide catchment and the area is populated by a considerable number of wealthy retired and semi-retired people choosing the location for the quality of life it offers. The shopping footfall in the town is a close second to Truro as the largest in Cornwall.

BUSINESS:
Originally formed to import and supply wine to the local hotel and catering market the business has evolved over the years and under the current ownership has become the leading independent wine shop in the area as well as offering a good range of spirits and liqueurs, Cornish bottled beers, miniatures, meads, ciders and fortified wines.

Now serving more retail and fewer trade customers (there is clearly some potential to restore the balance in the future) the business offers professional and friendly advice, a sale or return service for functions as well as glass loan and delivery services throughout the Penwith district of West Cornwall.

The course of the trade involves suppliers providing tasting samples which can be a particularly effective way of developing knowledge of labels and vintages from all over the world adding to the enjoyment of owning and running this particular business whilst also enhancing the owners’ lifestyle.

The current owners came to the business with little more than an enthusiast’s interest in wines and therefore purchasers should not be deterred because they fear they have insufficient knowledge themselves as training, guidance and support will be provided.

YEARS ESTABLISHED:
The business was originally founded in 1976 and moved to the current trading location 10 years later. It was acquired by the present owners in 2005.

TRADE:
Please note that if a business is VAT registered, all figures exclude VAT.
The level of trade has shown considerable consistency throughout the period of tenure of the current owners. Sales of £133,251 were generated in the year ended 31/10/11.

NET PROFIT:
An abridged profit of £13,846 was achieved in the year ended 31/10/11.


REASON FOR SALE:
Retirement sale

STAFF:
The business is operated by a husband and wife team with the support of one casual staff member at busy times rising to 2 during the peak pre-Christmas trading period.

OPENING HOURS:
Tuesday to Saturday: 10am to 5pm
Sunday and Monday: Closed

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The business premises form part of an imposing stone built period property, formerly a grocer’s warehouse, standing on a corner location in a narrow but busy thoroughfare running parallel to the town’s main shopping street. Occupying the ground floor with significant street frontage, a lane to the side gives access to an enclosed shared courtyard to the rear providing parking facilities and a rear entrance to the main retail space.

To the front elevation two steps up from street level give access to a centrally set hardwood front door, half glazed in a hardwood frame with further glazed panel to the side. This opens into:

Retail Shop (10.6m max wide x 5.0m max deep):

To the left side at the rear a wooden door opens into:

Office (3.6m x 2.3m):
To the right hand side of the retail space a further wooden door opens into:

Wine Cellar (6.1m max wide x 15.9m max deep):

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)
None

OUTSIDE:
Accessed via a lane to the side of the property there is a part paved and graveled communal courtyard enclosed by twin wrought iron gates and accommodating two parking spaces for the wine shop together with a door permitting access to the rear of the main retail space. The courtyard also provides access to the premises of several neighbouring businesses including a business centre/business club, hairdressers, tattooist and dress agency.

LEASE TERMS:
The premises are currently leased under a relatively informal agreement ending in October 2010. The terms have been favourable for the tenant, carrying neither a repairing or insuring responsibility. Rent of £1,007.45 is payable monthly (equating to £12,089.40 pa). It is envisaged that the purchaser will be able to negotiate a new lease with the landlord on broadly similar terms.

Property information

Property:

Leasehold