Retail Property (high street) for saleCameo Jewellers, High Street, Wick, Caithness, KW1
Offers Over £110,000
- Business for sale
Situated in the town of Wick, Cameo Jewellers enjoys a year-round, strong and loyal local customer base plus tourists who visit this area in the summer months. With a prominent trading situation, the shop is adjacent to other popular retail units which generates a high footfall. The business presents a simple trading model selling sourced jewellery and providing a range of maintenance services including watch battery fitting and engraving. Watch battery fitting is a popular service provided at the shop and it is something that a new owner could be trained to do if necessary. It is a lucrative part of the business and brings a good level of clientele into the shop. Key to its success is the quality of service and the range of stock on offer. This thriving business generates a sound level of turnover with attractive profit conversion ratios.
The current owners have operated the business since 1984 and built up a solid business. It is their desire to retire that brings this charming opportunity to the market. The vendors are keen to see their endeavours endure and therefore they are willing to provide a significant period of mentoring to enable new owners to hit the ground running. The business has two part-time staff each working an average of 2.5 days a week.
The population of Wick is c7500 but with a much broader catchment area. Tourism is one of the main sources of income to the area in the main season being highly popular with walkers, cyclists, ornithologists, archaeologists and anglers. The Old Pulteney distillery (the most northerly mainland distillery) is a popular attraction as is the active harbour and the 18-hole golf course. In terms of infrastructure the town is very well supported and benefits from excellent primary and high schooling, welfare and medical facilities, leisure resources and communication links with a railway station and airport.
The business is set within a 3-storey property with the shop utilising the ground floor unit and a basement store. The retail aspects are accessed from the main street through a single door. The first floor unit does not form part of the sale. The building is of stone construction under a flat roof. The property has two large timber framed display windows. The business signage to the front is of a good standard.
Internally the sales area is one large unit extending to 47.8m2. 'L' shaped display counters (both glass and timber) show off a good range of stock. The shop has wall-mounted display units and free-standing cabinets. Clocks and other merchandise are displayed on the walls. To the rear of the customer service area is a compact workshop, storeroom and staff facilities extending to c9.8m2. Accessed from a side door the basement provides 18m2 of additional secure storage.
There is no owner's accommodation with this property.
The unit benefits from mains electricity, water and drainage. The subjects have an alarm system and CCTV cameras. Additional security measures include steel shutters for the windows and doors; both are electrically operated.
Cameo Jewellers has an EBITDA for the year ending 2015 of c£43,000. Full accounting information will be made available to seriously interested parties subsequent to viewing.
The businesses rateable value is £4,300 and benefits for 100% rates relief under the Small Business Bonus Scheme 2016.
Offers over £110,000 are invited for the freehold interest complete with goodwill and trade contents (according to inventory). The sale includes sufficient tools, fixtures and fittings and contacts to maintain business levels. Stock at valuation.
The property benefits from an EPC Rating of 'TBC'.
The business does not presently operate with the use of a website this therefore offers a development prospect.
The business is located on the High Street close to free public car parking.
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