Business for Sale in Wymondham, Norfolk ACCESSORIES BOUTIQUE & GIFT SHOP – WYMONDHAM, NORFOLK (NR18)

Key Information

Reference

J35448E

Tenure

Freehold, Leasehold

Status

For Sale

Region

Norfolk

Sector

Gift Shops

Annual Sales

£150,000.00 Exc. VAT

Rent Payable

£15,300 per annum (£1,275 per month) - Only payable if acquired on a leasehold basis. The purchaser will be responsible for the landlords costs and fees in connection with the grant of a new lease.

Business Rates

Nil - We are advised that the property currently enjoys the benefit of Small Business Rate Relief. This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

Accommodation

No

Business Information

• Award Winning Boutique
• Freehold or Leasehold Option
• Parking
• Very Well Presented & Fitted Out
• Excellent Reputation
• Much Sought After Location
• 1 Bed Apartment Included with Freehold
• Rapidly Expanding Market Town
• South Norfolk Retailer of the Year 2022
• Loyal Customer Base

AGENTS NOTE

This is a business for sale as a going concern, not an empty premises for sale or let.

PARTICULARS

We are delighted to be appointed to bring to the market this fabulous award winning boutique set in the heart of the popular and expanding market town of Wymondham, just a few miles south of Norwich city centre.

Only now being made available due to the vendors genuine change in family circumstances this is an excellent opportunity for someone new to build further on the already strong foundations that the current owner has put in place since establishing the business.

With the option to acquire the freehold of this attractive property, which would include the 1st floor apartment, or to take the ground floor on a newly granted lease, this will appeal to a broad range of potential buyers and as such we would recommend registering your interest with us at your earliest convenience.

THE BUSINESS ITSELF

The business opened in 2017 and since then has gone from strength to strength despite the challenges faced during this time. They now enjoy an excellent reputation and loyal customer base and it is of no surprise that they were named South Norfolk Retailer of the Year 2022 as well as being finalists in every award they have been nominated for.

Providing a unique service in the area with stock not readily found elsewhere and lines in jewellery, handbags, fashion, homeware, gifts and similar it is clear to see why the shop is so popular both locally and online.

The business currently shows a turnover in excess of £150k and an excellent adjusted net profit of over £65k with scope to increase with further promotion and marketing via the businesses social media pages and website. Currently most sales are generated by the fantastic reputation that is enjoyed but this could really be capitalised on by a more targeted advertising approach.

PREMISES

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The business operates from the ground floor of this grand looking period property which is situated prominently on the only vehicular route into the main market square of this busy town. There is short stay parking just down from the shop meaning customers can pull up close-by which is particularly helpful for those that a making a specific journey into the town just to visit the business. Additionally there are two parking spaces included with the owners title, one which is for the benefit of the shop and the other for the flat above.

The shop benefits from being light and airy thanks to the large double windows to the front as well as period features such as the high ceiling with detailed cornicing, original timber flooring and fireplace. It has been very well fitted out and now presents in excellent condition and can be operated from day one without further investment needed.

The main retail area to the front measures 5.64m x 4.72m with a customer service counter, a centre display table, further display units and good window display areas. There is a further retail area to the rear of 3.21m x 3.24m which is fitted out in a similar fashion. Behind the counter there is a hallway leading through to a staff kitchenette and toilet. There is also a further door off the main retail area which leads to a lobby and external door to the car park. There is also the further added benefit of a basement room which has been plastered, decorated and carpeted as well as having two windows to the front elevation. This makes an ideal store room and office and is approximately the same size as the front retail area on the ground floor. It could potentially be rented out separately subject to any consents that may be required if the freehold was acquired.

ACCOMMODATION

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

As mentioned the freehold of the property would include the 1st floor 1 bedroom flat which is currently rented out on a furnished basis. We understand that the rent being achieved is £725 per month. The flat is accessed via the communal entrance lobby to the front and up an internal staircase to their private front door.

FURTHER INFORMATION

REFERENCE NUMBER

J35448E.

OPENING HOURS

9:30am to 5:00pm Monday to Saturday. Closed Sunday.

TENURE

Freehold or Leasehold option. If leasehold then a new lease will be granted on terms to be agreed.

RENT PAYABLE

£15,300 per annum (£1,275 per month) - Only payable if acquired on a leasehold basis.

The purchaser will be responsible for the landlords costs and fees in connection with the grant of a new lease.

RATES PAYABLE

Nil - We are advised that the property currently enjoys the benefit of Small Business Rate Relief.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC

Where applicable the Energy Performance Certificate is available on request.

PRICE

£499,950 for the freehold interest.

£119,950 for the leasehold interest.

For the benefit of the goodwill, fixtures, fittings & equipment. Stock is payable in addition at valuation on completion. This is a business for sale as a going concern.

VIEWING

Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE

Finance may be available to suitable purchasers.

BUSINESS TO SELL?

Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING

We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?

Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.