Business for Sale in Norwich City Centre, Norfolk Quality Independent Toy Shop

Leasehold Price £149,950

Key Information

Reference
M35750E
Tenure
Leasehold
Status
For Sale
Region
Norfolk
Sector
Toy Shops
Rent Payable
£24,000 per annum.
Business Rates
£1,996 per annum.
Accommodation
No
  • High Quality Toy Store
  • Busy City Centre Location
  • Excellent Reputation
  • Very Well Presented Premises
  • Proud to be Independent
  • Established 20 Years
  • Strong Online Sales
  • Repeat Customers Returning Yearly
  • New Lease to be Granted
  • High Consistent Net Profits

Business Information

We are very pleased to be appointed to market this delightful independent toy retailer who specialise in quality products many of which are unavailable in other stores either locally or online. Highly regarded by their customers, lots of whom have been returning to buy toys from them for many of the 20 years since the business has been established.

Set in a busy location in the centre of Norwich, known for it’s thriving independent business scene, within a 5 storey property and offering a new lease on terms to be agreed, this is an excellent opportunity for someone new to carry on the success that has been enjoyed by the vendor to date and to further build on that themselves as they take the business forward in the future.

THE BUSINESS

Since opening, the business has built a loyal following not only for the quality and exclusivity of the products they stock but for the personal and fair service they provide. Whilst they have been able to negotiate good discounts from their suppliers they pass these on to their customers so as to provide value for money and to remain competitive ensuring that those customers feel fairly treated and look forward to returning.

Stocking brands such as Djeco, Jellycat, Lanka Kade, Bigjigs and Orchard Toys, the focus is on those that produce products made with quality materials rather than low end plastic alternatives with limited life span. They also offer many educational toys, again of the highest standards which seamlessly blend the enjoyment of playing with learning. They are the only retailer in the U.K. who sell the full Djeco range of products giving them a clear edge over other such retailers. You will also rarely see the products they stock being sold by other businesses on 3rd party sites such as Amazon or Ebay which no doubt contributes to the high level of online sales that are made.

It is therefore not surprising to see the strong profit margins that are being achieved which given the shortened opening hours and the more rewarding and enjoyable environment to work in compared to other retail businesses makes this a must to consider for anyone looking to acquire a retail store.

PREMISES

The property with it’s very attractive frontage rises up over 5 storeys and sits on London Street in the heart of the city with a heavy daily passing footfall. At ground level behind the large windows adorned with eye catching displays you walk into a very well presented retail space (45sqm) fitted with original wooden floors, quality timber shelving and display units, inset spotlights, wall mounted TV and a customer service counter with computer based till and stock system.

A decorative timber and iron staircase leads up to the warm and inviting first floor retail room which provides an overall space of c.35sqm, again well presented and decorated with original sash windows and floorboards together with quality display shelving and lighting.

Further stairs lead up to the third floor which is utilised as a large open store room with timber racking and shelving, boarded floor, windows to the front and rear and providing some 30sqm of storage space. Stairs lead up to the fifth floor which is again used for storage but which has been split into 3 rooms with all being properly boarded out and 2 being fitted with extensive racking. Finally there is a basement level which provides an office, store room and a small hallway with a kitchen and toilet leading off from it. For added good measure there is also a cellar which is just currently used for file storage.

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ADDITIONAL INFORMATION

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

CONFIDENTIAL INFORMATION: In order to release further information on the business – such as the accounts, we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required.

REFERENCE NUMBER: M35750E.

OPENING HOURS: Monday to Saturday 10:00am to 4:00pm.

TENURE: Leasehold. A new lease will be provided on terms to be agreed between the parties.

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

RENT PAYABLE: £24,000 per annum.

RATES PAYABLE: £1,996 per annum.

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.

STAFF: 1 Full-Time Sales Assistant.

EPC: The Energy Performance Certificate shows a ‘C’ rating and a score of 65.

PRICE: £149,950 + STOCK AT VALUATION.

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

VIEWING: Strictly by appointment only, please get in touch to make an appointment.

FINANCE: We may be able to help you with business financing or your commercial mortgage needs, subject to eligibility. Please let us know if you need our assistance with this and we will put you in touch with our recommended whole of market broker.

BUSINESS TO SELL: Thinking of selling your business? That's our business!

If you are interested in finding out how much your business is worth, we offer a free and confidential valuation service. You can choose the time and day that suits you best, and we will give you an honest and professional assessment. Please contact our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing our businesses in a way that sets us apart from others. We provide quality property details and comprehensive information on all online platforms and our own website. If you want your business to stand out from the crowd, call us to book a free valuation.

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DISCLAIMER

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, flooring 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.

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East Anglia

Your Regional Director Chris Ruggles

EM&F East Anglia

116 - 118 Prince of Wales Road
Norwich
Norfolk
NR1 1NS