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Shop for sale

Quinton Parade, Coventry, West Midlands, CV3

£79,950
86 sq. m.

Property Description

Commercial information

  • Business for sale
  • 925 sq ft (86 sq m)

Key features

  • REF: 13883 G
  • LEASEHOLD
  • MENS CLOTHING

Full description

Tenure: Leasehold

BUSINESS
First For Men was founded and established in 1983 by the current owner who has worked in Menswear since 1962. The business is now reluctantly being sold so the owner can enjoy a well-earned retirement.

First For Men provides a range of top quality men's clothing from leading brands. The range includes clothing that is made to measure through to branded items such as Meyer trousers and quality Gabicci and Olymp shirts.

The business also hires wedding suits, evening suits and highland wear. An expanding area is the provision of corporate clothing to golf clubs, swimming clubs, social clubs and funeral directors and to local employers such as Jaguar Land Rover.

The business has an e commerce website, sales are increasing month on month through this medium. Customers are ordering online from countries including Italy, Russia, Greece, Australia, Germany, Sweden and the USA.

Scope to Improve.
Advertising and marketing campaign.
Maximise the use of social media.
Employ additional staff to help in shop and to canvass local businesses to introduce the corporate wear.
Increase /review the products sold online.
Introduce a customer loyalty or referral scheme.



LOCATION
First For Men is situated on a busy shopping parade in Cheylesmore, Coventry.

Cheylesmore is a suburb in the southern half of the city and is one of Coventry's largest suburbs sharing borders with Whitley and Stivichall in the South extending into Coventry city centre and bordering with Earlsdon in the North.

Cheylesmore has two busy shopping parades situated on Daventry Road where First For Men is ideally positioned and Quinton Park. Both parades are vibrant and busy with high levels of footfall and passing trade. There is free parking immediately outside the business which is immaculately presented and maintained with visible clear signage illuminated from behind.

PREMISES
The business is immaculately presented and maintained. The property is circa 86sqm in size.

Shop
Electric shutter to front.
Windows and double glazed doors to front creating a light and airy interior, suspended ceiling with concealed lighting enhanced by spotlighting, American Oak effect wooden floor, raised window display plinths, perimeter hanging rails, custom made shelving units, bespoke shirt display, five central hanging display units, Dimplex electric storage heating, two changing booths with separate curtains, further walk-in changing room (currently being used for storage), bespoke counter with till, card machine and generous wrapping area and a freestanding full length mirror.

Stock Room
There is a generous stock room to the rear of the main shop with perimeter shelving, hanging rails with room for a desk.

Kitchenette
There is a small kitchenette with base and wall units and space for fridge and microwave oven, circular hand wash basin

A door leads to a secure yard at the rear where entry is controlled by a key coded gate. There is an allocated car parking space for which the owner pays 15 per month.

TENURE
We are advised this is a leasehold opportunity.

As of 2018 a new 5 year lease with a 2 year break clause has been granted.
The rent per annum is 16,000.

We are advised that the landlord would be happy to negotiate a mutually acceptable lease with the new owner.

Business rates of 4,060 are currently payable.


HOURS
Monday to Saturday: 9am - 5.30pm

STAFF
The business is owner managed with the help of casual staff as and when required.

FINANCIAL PROFILE
The business generates a healthy turnover, this is available upon request.

EXTRA NOTES
Reasons to Buy
Well established business with an enviable reputation and many existing customers.
Free parking immediately outside.
Current owner happy to offer a handover to ensure the continued success of the business.
Includes an e-commerce website.
Ideal owner managed or husband and wife business.


Map & Street View

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