An opportunity to acquire a renowned town-centre retail business, freehold sale includes two upper dwellings with impressive passive income.
David Parish Menswear provides high-quality clothing and accessories from its double fronted, grade II listed building on Launceston’s town square. The business traded as Hepworths from the 1930s onwards, and was renamed when the Parish family took over in 1974. It has built a solid reputation in Cornwall for its offering of superior clothing and has a loyal customer base of both local clients and regular visitors to the county. The business prides itself in representing major menswear brands including Gabicci, Raging Bull, Brooke Taverner and Loake Shoes. The shop comprises a bright, clean and spacious showroom on the ground floor with the additional benefit of two fitting rooms, office, store and heated basement storage. The business offers an ideal opportunity for a new owner to develop the range of quality clothing and offer further products and services which could include bespoke tailoring and outdoor/hiking products for the lucrative visitor market.
Turnover for the year to January 2023 was £185,000 and provided a pre-tax income for the sole director of over £40,000. Staff costs are around £8,000 per year. A new lease will be granted upon completion at £15,000 per year.
The freehold sale encompasses the entire building and along with the shop premises there is an HMO and maisonette on the upper floors, both are run by a management company and generate over £26,000 in gross income per year. The building enjoys a substantial position on Broad Street, overlooking the town square along side well-known national retailers and quality independent outlets, all of which enhance Launceston’s reputation as an important destination for East Cornwall and West Devon.
More detailed financial and property information is available on request. This is a genuine retirement sale and early viewing is highly recommended.
