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Trading over 30 years
Accounts Available Year End 5th April 2019
Annual Turnover £61,527
Gross Profit £36,672
Accounts Available After Viewing
Ground Floor Only
Enviable Reputation
Busy Footfall
Popular Location
Handover Period Available
EPC - D
Blacks Brokers are pleased to bring to the market this freehold art gallery and picture framing business located in Chorley, Lancashire.
Introduction
The Picture Shop has been trading on Pall Mall since 1990. Our client purchased the ground floor of the building and started to use the space as an art studio originally with the picture framing service developing over the years generating a huge amount of additional goodwill. The business has an outstanding reputation.
Location
Situated on Pall Mall the business benefits from a heavy footfall in this busy location. The business is located on the outskirts of the town centre and therefore benefits from free parking with a pull in lay-by outside the shop making this ideal for customers who are picking up large items.
Reason for sale
This opportunity has become available due to retirement plans and therefore the business has been placed on the open market at this appealing price point.
Lease
The building is freehold and therefore no leases are applicable on the property.
Building layout and design
The property for sale is the ground floor commercial area of 86 Pall Mall. Upon entry there is a gallery section. The main shop floor is divided in two halves by an archway with a large cutting section to the rear of the main floor. There is a rear doorway that leads into the kitchen area. Toilet facilities are also at the rear of the building with the main work bench area. There is a basement that is used for storage.
Staff
The owner is supported by a single part time worker and family friend as as such there are no transferable staff with the purchase.
Financial details
Currently the business is trading steadily over its long trading heritage. The accounts year end 5th April 2019 show that the business has an annual turnover of £67,527 with gross profits of £36,672. Full financial information can be made available after viewing.
Business rates
The rateable value of the property is £6,100 however the business currently benefits from Small Business Rates Relief.
Summary
This is a well respected art gallery and picture framing business with a trading heritage spanning 30 years.
Our client has built an enviable reputation that attracts popular works from artists on a sale or return basis together with the picture framing part of the business generating a lucrative income stream. The business benefits from high levels of repeat custom and our client has built as database of clients of the years.
This purchase would ideally suit a couple who could operate the business whilst reducing the overheads. Our client has offered a handover period to train the new buyer in picture framing should this be required. The Picture Shop has a very high reputation for framing with no item refused.
This is an excellent investment to own a retail property in this popular area of Chorley. The business is flexible and offers a new buyer an exciting opportunity to build upon the solid foundations established over 30 years. Early viewings are advised