Business for Sale in Norfolk (Confidential Sale) Niche Sector Retail Stores (Confidential Sale)

Key Information

Reference

MG36091E

Tenure

Leasehold

Status

For Sale

Region

Norfolk

Sector

Gift Shops

Annual Sales

£600,000.00 Exc. VAT

Rent Payable

Store 1 - £45,000 per annum. Store 2 - Currently £17,000 per annum.

Business Rates

Store 1 - £4,459.81 per annum. Store 2 - £1,715.31 per annum.

Accommodation

No

Business Information

Exceptional opportunity in the niche retail sector, operating two well-positioned stores in prime locations within Norfolk. This business boasts a long trading history and is renowned for its unique product lines, limited competition, and well-established importing routes. This listing is a confidential sale at the vendor's request, thus a short online non-disclosure form will be required before we can discuss further details. Please get in touch with our office to arrange this.

THE BUSINESS

The business specialises in niche retail, featuring an intriguing array of products that cater to a loyal customer base. Strong sales and profit levels reflect the efficient management and appeal of the stores. Managed by a dedicated team of 4 full-time and 6 part-time staff, the business offers scope for expansion, particularly through online sales channels. It is sold as a going concern, with stock payable upon completion at valuation, currently estimated at £125,000.

PREMISES

The business operates from two leasehold retail stores:

• Store 1: Available on a new lease with rent payable at £45,000 per annum and rates of £4,459.81 per annum. The store has an Energy Performance Certificate (EPC) rating of ‘B’ (36).
• Store 2: Available through assignment or a new lease, with rent of £17,000 per annum and rates of £1,715.31 per annum. Its EPC rating is ‘D’ (79).

Both stores are strategically located in high-footfall areas, making them ideal for continued retail success.

ACCOMMODATION

There is no residential accommodation included with this business at either of the leasehold premises.

ADDITIONAL INFORMATION

REFERENCE NUMBER: MG36091E.

OPENING HOURS: Monday to Saturday, 9:00am to 5:30pm, and Sunday 10:00am to 4:00pm.

TENURE: Leasehold. Both stores will be offered on a leasehold basis. Store 1 will be by way of a new lease on terms to be agreed, and Store 2 will be by way of an assignment of the existing lease or a new lease if appropriate. The purchaser will be responsible for the landlord's costs and fees in connection with the assignment of the existing lease and the grant of any new lease.

RENT PAYABLE:

• Store 1 - £45,000 per annum.
• Store 2 - Currently £17,000 per annum.

RATES PAYABLE:

• Store 1 - £4,459.81 per annum.
• Store 2 - £1,715.31 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: At the time of writing there are 4 Full-Time and 6 Part-Time members of staff.

EPC:

• Store 1 - ‘B’ / 36.
• Store 2 - ‘D’ / 79.

PRICE:

£245,000.-- PLUS STOCK AT VALUATION.

For the benefit of the leasehold interest in both retail stores, goodwill of the business, fixtures, fittings and equipment. Stock payable in addition on completion at valuation currently estimated to be in the region of £125,000. 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.

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.