Retail Property (high street) for sale

Lymington, Hampshire

£25,000

Property Description

Commercial information

  • Business for sale
  • Use class orders: A1 Shops

Key features

  • Character premises extending over 2 floors
  • One of the best trading positions in Lymington
  • Refitted in recent years, at cost approaching 50,000
  • Established approaching 30 years
  • Sales 148,137 ex Vat, Gross Profit 54,874
  • Stocks top brands including Yves Saint Laurent, Boss & Guerlan
  • Excellent reputation, draws trade from a wide catchment area
  • Great deal of repeat/regular trade
  • Offered for sale owing to retirement
  • EM&F reference number: MG34081P

Full description

Tenure: Leasehold

Description: A landmark retail business established and under current ownership a substantial number of years, proving a real destination, stocking top brands for both ladies and gentlemen. Contained within character premises which in recent years have been the subject of total refurbishment with top quality fixtures and fittings installed at substantial cost approaching £50,000, offering front and rear retail areas, service counter, separate cosmetics counter, storage, office, kitchen and cloakroom facilities. Such is the length of time established and the wide range of brands stocked, coupled with the excellent reputation commanded, the business enjoys a great deal of regular/repeat trade, drawing customers from a wide catchment area.

Location: Occupying what is considered one of the best trading positions within the town, situated on the main shopping High Street which provides access to and from the nearby quay. The area is popular with national retailers ensuring substantial pedestrian foot flow, at the time of our inspection nestled between a fashion boutique and Marie Curie, opposite Waterstones book shop, Superdrug and HSBC bank, close W H Smith, Café Nero, Fat Face and Tesco Metro. The business is easily accessible, free restricted on street car parking can be found opposite with shopper car parks only a short walk away along with the cobbled street of 'Old Town Quay' providing access to the popular marinas.

Area: Lymington is an affluent Georgian market town lying on the southern edge of the famous New Forest between Bournemouth and Southampton, at the western end of the Solent, a sailing mecca with 3 large marinas, good size residential population and substantial number of visitors, in particular during the summer months, assisted by the closeness of upmarket hotels to include The Pig in Brockenhurst and Chewton Glen.

Premises: Character wooden framed glazed single frontage, glazed customer entrance door opening to the stylish RETAIL AREA, quality wood effect vinyl flooring, raised front window display plinth, feature beams, CCTV system installed together with security tagging system. The retail area is split between the front and rear, the FRONT RETAIL AREA is fitted with quality display shelving with lockable storage cupboards below, wall mounted CCTV monitor, also contains 'Elizabeth Arden' MAKE UP COUNTER. Further fitted wall display shelving leads to the REAR RETAIL AREA where the main SERVE OVER COUNTER is situated, incorporates glazed display cabinet, houses electronic till, additional CCTV monitor to the wall. Hidden stairway descends to the BASEMENT AREA, contains a host of racking providing STORAGE, fitted with stainless steel sink/draining unit with hot water heater over offering KITCHEN facilities, also contains desk and seating, CLOAKROOM leading off fitted with toilet and hand washbasin.

(None of the above appliances/systems have been tested and a purchaser must satisfy themselves as to the serviceability of these.)

Outside: The vendor rents a CAR PARKING space nearby at a cost of £300 per annum which could be made available.

Business: Reputed to have been established in 1990, acquired by the current owner in 2004, reluctantly only offered for sale in order to pursue retirement. Retailing a wide range of scents for both ladies and gentlemen from top brands with stock split approximately 60% in respect of ladies and 40% in respect of gentlemen. Brands stocked include Yves Saint Laurent, Marc Jacobs, Boss, Givenchy, Issey Miyake, Loccitane, Prada, Bulgari, Dolce & Gabbana, Jimmy Choo, Guerlan and Hermes being 1 of only 14 independent stockists in the country for the latter. A small number of cosmetics are also retailed from Elizabeth Arden, being the only stockist in the town, cosmetics being a side of the business lending itself to further development. Regular custom is enjoyed, attracted by the personal service, a boost is experienced in the summer from visitors to the town with a major boost enjoyed at Christmas, a wrapping service provided ensuring the outlet remains popular.

Trading Hours: Operated at a level to suit the vendor, opening Monday to Saturday 10.00am - 5.00pm, scope exists to open longer hours.

Staff: With impending retirement the vendor works limited hours in the business, assisted by 1 full time member of staff and 2 part time members of staff. The business is easily manageable and can be operated by 1 person with a small amount of part time assistance enabling a reduction in the current wages bill.

Takings: Accounting information confirms consistent levels of trade over the years, in respect of the financial year ended 31st March 2019 Sales amounted to £148,137 ex Vat returning a Gross Profit of £54,874 equating to 37%. All sales are through the shop, a website is not maintained, and opportunities potentially exist for some online retailing.

Comments: The Perfumery at Lymington provides an opportunity to acquire a long established popular retail business, new owners will benefit from very well fitted and presented trading premises occupying a prime trading position within this desirable waterside town. To ensure a smooth transition of the business to new owners a comprehensive handover with training is available.

Tenure: A 10 year Lease from March 2019 with a commencing rent of £19,800 per annum subject to a 5 year rent review with the benefit of a 5 year tenant break.

Rates: £6,629 per annum payable in respect of 2019/2020.

Price: £25,000 for the benefit of the Leasehold, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation.


More information from this agent

Nearest stations

  • Lymington Town (0.3 mi)
  • Lymington Pier (0.5 mi)
  • Sway (3.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 Local call rate

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

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Map & Street View

Nearest stations

  • Lymington Town (0.3 mi)
  • Lymington Pier (0.5 mi)
  • Sway (3.5 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

EM&F , Devon

3 Cornhill, Ottery St. Mary, EX11 1DW

01404 606038 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.

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