Retail Property (high street) for sale

Ryde, Isle of Wight, , PO33

£150,000

Property Description

Key features

  • Ref:B04071
  • Leasehold

Full description

Business
Hilton Smythe is delighted to welcome to the market this well-established and busy flooring retail business, which is ideally located within Ryde on the Isle of Wight.

The business was established in 1973 and taken over by our client in 1991 and is only now being offered to the market due to our client's desire to retire. The flooring business currently operates at a pace to suit our client and generated a turnover in the region of £700,000 with a gross profit of £257,478 as per accounts.

Our client offers a wide variety of floor coverings, including carpet, rugs, LVT flooring and vinyl's, to name a few. The fitting service is carried out in house by employed fitters and supported by subcontracted fitters when required . The property boasts approximately 247 sq. metres of floor space. In addition, there is also a separate rented warehouse used for storage. Both are very well maintained and extremely well fitted out to suit the trade.

The business has built up an excellent reputation within the area on the island for the very high quality of the goods and services offered, with this the current owner is a member of the metro carpet buying group, which has resulted in a very loyal client base, with a good volume of repeat trade and word of mouth recommendations.

We feel there is scope to increase the turnover by extending the opening hours. A new owner could also embark on a modest marketing campaign to highlight the goods and service offered. The business already has a website in place to promote the business at https://www.islandwidecarpets.co.uk/.

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

Location
Islandwide Carpet Warehouse is located in Ryde on the Isle of Wight.

The business is situated on a one-way road, alongside other thriving businesses including a bingo hall, supermarket, beauty salon, restaurants, and pubs.

The town has constant public transport running through and the nearest bus stop is a short walk from the business. There is also a car ferry link to the mainland.

The town also boasts a community sports leisure, library, health centre and schools.

The surrounding area is known for its natural beauty and attractions such as The Needles Lighthouse.

Premises
The business is housed in an impressive mid terraced, double fronted building and really needs to be viewed to appreciate the size of the business premises.

Ground Floor-

Shop/Showroom/ Admin Desk
Windows and glass door to front creating a light and airy interior, very generously proportioned, built in carpet displays to perimeter walls, rug display section, central carpet gondolas, counter area with till and card machine.

First Floor-
Sale room only.

External-
Rear yard.

Equipment-
Paternoster of 30 rollsed of carpet.
All display stands.
3 work vans.

Tenure
We are advised the business is being sold as a Leasehold.

Original lease length: 25 years.
Remaining lease length: 5 years as of 2017.
Rent: £21,000 per annum.

Hilton Smythe are advised the business rates are £8,000.

Hours
Monday: 9.00am-5.00pm
Tuesday: 9.00am-5.00pm
Wednesday: 9.00am-5.00pm
Thursday: 9.00am-5.00pm
Friday: 9.00am-5.00pm
Saturday: 9.00am-5.00pm
Sunday: Closed

Staff
The business is run and managed by our client who has 6 full time members of staff.

Financial Profile
Islandwide Carpet Warehouse generated an advised turnover of circa £700,000 as of the 2018 accounts, with a gross profit of £257,478.


Nearest stations

  • Ryde St. Johns Road (0.3 mi)
  • Ryde Esplanade (0.4 mi)
  • Ryde Pier Head (0.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299002 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Ryde St. Johns Road (0.3 mi)
  • Ryde Esplanade (0.4 mi)
  • Ryde Pier Head (0.9 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Hilton Smythe, Bolton

20 Wood Street, Bolton, BL1 1DY

01204 299002 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference B04071. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Hilton Smythe, Bolton . Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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