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Commercial Property for sale

The Arcade, St Mawes

Under Offer £35,000

Property Description

Key features

  • A retail shop business for sale
  • Exclusive coastal village location
  • Central village situation
  • Circa 2 years remaining prior to next rent review
  • Circa £60k average turnover (based on last 3 years accounts)
  • Furniture, Gifts and Homeware A1 Business Use classification.

Full description

A rare opportunity to acquire a successful furniture, gifts and homeware business, located in the desirable and exclusive village of St Mawes.

Location Summary (distances and times are approximate) 
Truro: 10 miles via car ferry. Falmouth: 25 minutes by passenger ferry or 15 miles by car ferry. Newquay Airport: 29 miles with flights to London Gatwick (70 minutes), and Manchester (80 minutes). St Austell: 15 miles with London Paddington 4 hours by rail. Plymouth: 58 miles. Exeter: 97 miles.

A rare opportunity to acquire a business running as an A1 classification furniture, gifts and homeware shop, located in the desirable and exclusive village of St Mawes. Run by a local and well-respected client since 2012, she has grown the business by herself to a respectable turnover where potential still exists to expand. Located in the Arcade just off St Mawes waterfront, this easy to manage business is available due to retirement. With easily manageable rental costs, and two years remaining until the next rent review renewal, this successful business would suit the single person, or couple wishing to trade in this established tourist coastal village to provide a steady and secure income.

The Accommodation Comprises 
Shop: 21'11 x 16'9 max. Communal WC Facilities and Dustbin Areas.

St Mawes 
This enchanting south facing harbour village is found on the eastern side of the Fal Estuary, in an Area of Outstanding Natural Beauty, with much of its surroundings owned by the National Trust. The village is centred round its quaint harbour, its own beaches and Castle. It has a good wide range of amenities, which are open all year, including butchers, bakers, convenience store, post office / newsagent, doctors, hairdressers, dentist, pharmacy, village hall, church, delicatessen and clothing shops including Fat Face. The village also has two public houses, and an excellent range of cafes, restaurants, art galleries, gift and ice cream shops. St Mawes has long been one of the West Country's more desirable and exclusive destinations, with Olga Polizzi's Hotel Tresanton and the recently re-modelled Idle Rocks Hotel both luring the rich and famous. The village has superbly varied and accessible sailing waters and an active sailing club with a full programme of village...

Tenure : Leasehold. 
Original lease date 18th August 1988 with lease terms of 12 years and one day. 7 yearly rent reviews. Existing lease from 20th April 2012 with a yearly rent of £5,600 or equal monthly instalments of £466.67 payable on the first day of each month.

Rates Payable - Zero. 

Average of the last three years accounts approximately £60,000.

Expansion Potential  
Individual stock and opening hours.

Current Trading Hours 
Main season (April to October); (9 ? 5.30), 7 days a week. February and March: 6 days a week (9 ? 5.30). November and December: 6 days a week (9 ? 5.30). January: closed.

Current Stock 
Approximately £5,000.

Till and display shelving

To be taken at valuation upon completion.

Lease and Accounts  
The lease and 3 years trading accounts are available for inspection at our offices in St Mawes and will be made available subsequent to a viewing and an interest to purchase.

Value Added Tax 
All the above prices / rentals are quoted exclusive of VAT where applicable.

Energy Performance Certificate Rating 
Exempt (due to the leasehold premises being below 50msq).

Every effort has been made with these details but accuracy is not guaranteed and they are not to form part of a contract. Representation or warranty is not given in relation to this property. All negotiations must be with H Tiddy. Before proceeding to purchase, buyers should consider an independent check of all aspects of the property.

More information from this agent

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