Freehold Menswear & Formal Hire Or Empty Shop For Sale

Business description

Advent Business Sales are pleased to offer to the market this extremely well established menswear shop, which has been trading as a family business for a successfully 200 years.

The current vendor has been in ownership for the last 35 yeas and is reluctantly selling due to retirement plans.

The is an option for purchasing the either the business as it stands or as an empty unit.

The shop has a large double frontage display area and complies with regulations by having a gentle slope by the front door for disabled access.

The business currently offers sales of quality menswear as well as formal suit hire, giving a split in the business of approximately 50% retails and 50% suit hire. Full accessories are also available.

The business is monopolistic to the area and is staffed by the vendor and his wife on a part time basis.

The business has built up an enviable reputation, especially for formal occasions such as weddings.

The shop is beautifully appointed with appointed racking, shelving and rails. The décor is to the best standards.

The premises also benefit from spacious 4 bed living accommodation to the first floor and to the rear of the premises, although this is currently used by the vendor as stock storage.

The business continues to show good net profits with the current rate of £30,000 including tax and £35,500 including director’s drawings.

The Freehold is available for £190,000 +SAV
REF: 9236DN

Property information

Property:

Leasehold

Lease terms:

Freehold or Leasehold or Empty Shop is available for £5,000
TENURE: Leasehold
Original lease: 10 years, 5 year break clause either way with possible negotiation to buy
Remaining lease: 10 years
Review every: 3 years
Rent: £13,000 P.A.

We are advised that the annual business rates are currently: £1,500

Living accommodation:

First Floor • Bathroom • 4 further large rooms

Location:

Our clients menswear shop is ideally located on the high street of an attractive North Lincolnshire town. The high street is the main shopping area for the town, there are excellent parking facilities with free bays on the street as well as further free shoppers car park approximately 50 yards from the shop.

The Humber Bridge and M62 are close by as well as the M1.

Premises details:

Very well maintained 2 storey semi detached premises consisting of:

Ground Floor
• Double fronted shop with disabled access
• Main sales area with full range of display, racking and shelving plus counters
• Fitting rooms
• Rear doorway
• Large office area
• Stairs
• Second doorway leading to lounge with archway access to a fitted kitchen, which has leads to rear yard
First Floor
• Bathroom
• 4 further large rooms


External
• Enclosed rear yard with locked gate access via side of premises with outside stores
• Outside w/c
• Doorway leading to first floor extension (currently unused)
• Access alley way to left hand side of premises
• Disabled access ramp to front of premises
• Paved to bayed parking area to front of premises and roadway

Other information

Expansion potential:

Due to the size of the premises, there is excellent potential for growth, this includes:
• Extending the sales area to the rear of the premises and perhaps the annex extension
• Alternatively, the rear of the premises could be turned into a self contained flat, which could be sublet, as there is separate access from the side of the premises to this
• The living accommodation on the first floor could be lived in by an owner/operator or possibly sublet

Trading hours:

Mon: closed
Tues – Sat: 9am – 12.30
& 2pm – 5.30pm

Inventory / Stock value:

£20,000

Related documents:

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