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Local Off Licence With 2 Bed Owners' Flat For Sale

Penzance, Cornwall, UK
Asking Price:
£195,000
Turnover:
£200K - £500K
Net Profit:
Under £50K

Rosevean Off-Licence and Convenience Store is a popular and well-equipped business located just north of Market Jew Street in Penzance.

Available for the first time in nearly 20 years due to the owner relocating, there is an opportunity for a new owner-occupier to drive the business forward.

Alternatively one could wind the business down and apply for a residential conversion to the ground floor.

In all this represents an ideal first business venture or a small re-development opportunity to convert to flats or even an HMO, subject to the necessary consents and planning.

Property Information

Property:

Freehold

Location:

Penzance is home to c.15,000 residents and is increasingly popular amongst tourists due to its mainline station with direct access to Exeter, Bristol and London together with transport links to the Isles of Scilly. Rosevean, as mentioned, is in a largely residential area and Penzance remains popular with young families and professionals alike.

Premises Details:

The property is an attractive end-terrace enjoying return-frontage. Constructed c.1880 it retains many original features and the owner has recently restored the sash windows, some to UPVC, repaired the guttering, installed a new boiler in 2021 and has solar panels on the roof. In all the property is in good order, but requires cosmetic updating.

There has been a business on this site for 45 years, and the current owner has run it for the past 20. Turnover is around the £400,000 mark, however due to personal circumstances full profit and loss accounts are not available. The owner makes c.£30,000 per annum in profit, however by working full time a new owner could significantly increase the profitability of this business.

Rosevean benefits from being the only local Off-Licence in the area, serving a largely residential area to the north of the main shopping streets of Market Jew St and Causewayhead in Penzance.

Business Operation

Employees:
3
Years established:
40