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Long Established Arts Crafts And Card Business For Sale

Newport, Isle of Wight
Asking Price:
£125,000 Furniture / Fixtures included
Sales Revenue:
£100K - £200K
Cash Flow:
Available on request

Description
ground floor premises running to approximately 195.4m˛ (2,103 ft˛) including kitchen and staff facilities. The shop benefits from a generous frontage to st james street of circa 7.1m (73.2 ft). Please see floor plan overleaf for further detail.
The business
a clean and attractive trading style majoring on greetings cards, artists materials and associated items.
Accounts to the year end 5th april 2016 show a turnover of just short of £182,000 with a gross profit margin of circa 50%. Full accounting information can be made available to bona fide applicants following a viewing of the business.
Terms
for sale with offers invited "in the region of" £125,000 for the business, fixtures, fittings and goodwill, plus £185,000 for the long leasehold interest of the ground floor. Alternatively the ground floor premises can be available by way of a new lease at £17,500 per annum plus £125,000 for the business, trade fixtures, fittings and goodwill. In both cases stock will be in addition, at valuation on completion.

Property Information

Property:

Leasehold

Lease Terms:

New Lease at £17,500 per annum plus £125,000 fixtures, fittings & goodwill of the business

Location:

Well located in St James Street, where the business has been successfully trading for many years. The business is well known and very much a destination shop with the benefit of free 30 minute on-street parking outside. It is close to Newport Bus Interchange and the South Street Retail park alongside it, producing high footfall to this area. Newport is the Island's county town and undoubted commercial and retail centre, drawing on its immediate population of 25,000 and the Island's entire population of 130,000, which is heavily swelled by tourists especially during the ever extending holiday season. Investment in the town continues with a new B&M Store opening recently in the former BHS premises in Newport High Street.

Business Operation

Reasons for selling:

Retirement

Contact Information

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