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Retail Property (high street) for sale

Honey Lane, Hertford, Hertfordshire, SG14

Leasehold 30 sq. m. | £74,950

Property Description

Commercial information

  • Business for sale
  • 322 sq ft (30 sq m)

Key features

  • REF 12339
  • LEASEHOLD BUSINESS
  • ANTIQUES SHOP

Full description

Tenure: Leasehold

LOCATION
Honey Lane Antiques occupies substantial ground floor premises, ideally located within the county town of Hertford, Hertfordshire. The business is surrounded by a wealth of complimentary shops and businesses and being set in a pedestrianised area, it benefits from a very high volume of footfall. The business further benefits from good car parking facilities within the area.

Hertford is a historic market town, which dates back to the 10th century. It is 20 miles north of London in the East Hertfordshire countryside, an area often regarded as one of the most desirable in the UK. According to the 2011 census, the town had a residential population of 26,000. Hertford boasts excellent schools and a very healthy economy.

The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. Hertford East railway station is just over 5 minutes' walk away. The area is also well served by the A-roads, with the A414 being within easy driving distance, which links to the national A-road and motorway networks. Luton is approximately 20 miles away and Watford is 22 miles away.

BUSINESS
Hilton Smythe is delighted to welcome to the market this well established and popular antique retail business, ideally located within Hertford.

The business was established by our client in 2012 and is only now being offered to the market due to our client's desire for early semi-retirement and possible move abroad. The business currently operates 5 days per week and as per the 2015 accounts generates a turnover in the region of 50,500 per annum, with a gross profit of approximately 71%.

Our client buys and sells antique jewellery and accessories, silver, bronzes, glass, lamps, Oriental and tribal antiques, Victoriana, militaria and Art Deco, as well as sub-letting two cabinets to a military specialist on a rental basis, with the option of making more cabinets available for the purposes of rental .

We are advised the business has already been featured three times on television, once on the Celebrity Antiques Road Trip and twice on The Antiques Road Trip. The business is also on social media, with a page on the very popular Facebook, which already has 300 likes. The property offers approximately 40 sq. metres of floor space, is very well maintained and fitted out to suit the trade.

The business has built up an excellent reputation within the area for the high quality of the goods and service offered, which has resulted in a very loyal client base, with a high volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover as currently our client closes the business on the 2nd and last Tuesday of every month, offering a new owner the option to trade from Monday to Saturday with longer opening hours and select Sundays when events take place in the town centre. We also believes that the turnover could increase quite substantially if major credit cards were accepted, as our client only deals in cash purchases, with the occasional cheque. A new owner could embark on a modest marketing campaign to promote the goods offered, as well as establishing a website, which could offer online ordering facilities.

This is an excellent opportunity for a new owner to take this popular antiques business to the next level; therefore early viewing must come highly recommended to avoid disappointment.

PREMISES
Substantial ground floor, lock-up premises in an ideal trading location, briefly comprising:

Window display areas with one large and two smaller windows.
9 x upright glass display cabinets.
Wooden display cabinets.
Low-level counter display cabinet.
Wall displays.
Clothes rails.
Rear desk/office area.
CCTV with 4 x cameras.
Internal security grills.

Screened area with sink and hot water heater.

Rear kitchenette with shelving.

WC.

External with:

The lane outside is used for displaying items and attracting customers.
Security grills to frontage.
ADT monitored alarm system.

TENURE
We are advised Leasehold:

Rolling annual contract.
A new lease is available.
Rent: 800 per month

HOURS
The business is open:

Monday: Closed
Tuesday - Saturday: 10.00am - 5.00pm
Sunday: Closed

Currently our client closes the business on the 2nd and last Tuesday of every month.

STAFF
The business is owner run and managed.

FINANCIAL PROFILE
The business generates a turnover in the region of 50,500 per annum, with a gross profit of approximately 71%, according to the 2015 accounts.


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