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Long Established Jewellery Business For Sale

Ryde, Isle of Wight
Asking Price:
£20,000 Furniture / Fixtures included
Turnover:
Available on request
Net Profit:
Available on request

Compact retail unit ideally suited to the style of trading. This has been proved since the current tenant has been running this business for 23 years from this location with a similar business run from the premises 15 years before this. The unit runs to approximately 22m? (236 ft?) with access to a lobby and wc facility to the rear. There is a small storage room to the rear of the main retail area running to approximately 6m? (64 ft?). This is currently held on separate and informal terms by the current tenant and a similar agreement could be reached again with the landlords, if the space is required. Please see floor plan overleaf for further details.
THE LEASE
Held on a 15 year term from June 2003, expiring June 2018, at a current passing rent of £6,900 per annum and benefitting from the protection of the Landlord & Tenant Act 1954.
THE BUSINESS
As previously mentioned this is a well established business having traded from this location for 23 years. Accounting information is available to bona fide applicants following a viewing of the property
TERMS
For Sale with offers invited "in the region of" £20,000 for the benefit of the goodwill, trade fixtures and fittings of the business, simultaneous with a assignment of the existing lease, plus any stock required at valuation on completion.

Property information

Property:

Leasehold

Location:

Located mid-way down Union Street, well placed to capture the ever increasing footfall of this highly popular street, which has seen much investment and improvement in recent years. The unit is close to Liz Earle Cosmetics, Sainsbury's Local, Seafield Estate Agents and many other specialist retailers and eateries. Ryde has an immediate population of around 25,000, considerably boosted by the influx of summer tourists as well as day-trippers via fast passenger catamaran and Hovercraft links from Portsmouth and Southsea. The town boasts a 24,000 ft? Co-Operative supermarket, Peacocks, WH Smith, New Look, Clintons, Costa Coffee, The Card Factory, Specsavers, Superdrug, M&Co and a newly opened Poundland. Ryde has undergone somewhat of a renaissance with the restoration of many of its Victorian buildings and now presents as a smart and lively shopping area.

Business Operation

Reasons for selling:

Retirement

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