Quality Old Established Linen Soft Furnishings Drapers For Sale

Business description

Established over 200 years.

Outstanding opportunity to acquire an old established traditional Drapery Store which we are informed was established approx. 250 years ago and has been in the same family since 1951.

Most attractive and spacious Sales Shop approx. 2,000 sq. ft. sales area, fully carpeted, fluorescent lighting and well equipped including 2 counters, 2 electronic cash registers, display stands, shelving etc.

2 Stockrooms
Staffroom/Kitchen
Staff w.c.

Property information

Property:

Leasehold

Lease terms:

The vendors own the freehold and subject to satisfactory references are prepared to grant in respect of the whole property a new 20 years full repairing and insuring lease at a rental of £40,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years. (As will be appreciated, with the rental income at the present time from the 2 flats and offices of £11,000 p.a. the net rental payable would currently be £29,000 p.a. exclusive of rates).

Uniform Business Rates: £9,000 p.a. approx.

AS STATED THE BUSINESS HAS BEEN IN THE SAME FAMILY SINCE 1951 AND THERE ARE GENUINE REASONS FOR SALE.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Living accommodation:

The accommodation in the form of a SELF CONTAINED MAISONETTE over is at present let on a shorthold tenancy and provides a rental income of £450 per month. We understand that this accommodation can be vacant, if required. The accommodation has FULL GAS F

Location:

Situated in a parade, excellent High Street trading position, KENT. The business is situated in a prime High Street position close to Woolworths, Boots and National Westminster Bank Plc.

Other information

Expansion potential:

WE ARE INFORMED the turnover averages £6,000 p.w. in our opinion offering tremendous potential for further increase in the right hands, in our opinion there is room for further expansion with growing online sales. We are further advised that the sales year ending January, 2009 showed £292,913 with a gross profit of £174,606 i.e. 59.61%.

Reasons for selling:

OFFERS INVITED TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS in the region of £175,000 plus STOCK AT VALUATION (£30,000/£35,000 approx). SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

Operated on a 6 day week basis
Monday - Saturday inclusive - 9 a.m. - 6 p.m.
NO SUNDAY TRADING

Financing available:

SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.