Marine Property for sale

Exmouth, Devon

£199,995

Property Description

Commercial information

  • Business for sale

Key features

  • Desirable waterside trading position, Exmouth marina
  • Modern premises, part of prestigious complex
  • Two inter-connecting units, benefits from corner site
  • Long established, current ownership 20 years
  • Sales 180,917 ex Vat, all shop sales
  • Lucrative car parking ensures easy customer access
  • Sound following of local and visitor trade
  • Low day-to-day overheads, profitable business
  • Leasehold option also available, 39,995 + sav
  • EM&F Reference Number: MSX34071N

Full description

Tenure: Freehold

Description: A very long established Boat Chandlers established in excess of 40 years and under current ownership in excess of 20 years. During this time continued success has been enjoyed to include the moving to the current most desirable trading premises. Offering a wide range of retail lines, these include traditional chandlery lines, boat maintenance/repair items, recently introduced fishing equipment and accessories, a comprehensive range of clothing and footwear for both on and off the water to include top branded items, nautical books and charts. All sales are via the shop, online trading is not undertaken which new owners may wish to introduce. Such is the length of time established coupled with trading position the business enjoys a strong local following providing regular trade, boosted by visitors to the area, in particular during the summer months.

Location: Enjoying a highly visible trading position, overlooking the attractive marina, forming part of the Pilot Wharf shopping development, the building includes a bar/grill restaurant, financial advisors, seafood delicatessen and beauty salon whilst above are popular residential apartments. At the time of our inspection other nearby businesses included a newsagents/gift shop, café, estate agents, public house, water sports outlet and recently open Rockfish Seafood Restaurant. The trading position is considered quite unique, forming part of the prestigious Exmouth Quay, the subject of considerable redevelopment over recent years, new luxury apartments having just been completed, the area now becoming a destination in its own right, from which ferries and estuary boat tours depart.

Area: Exmouth Quay is located at the mouth of the Exe estuary, the western gateway of the Jurrassic coast, a World Heritage site, a mecca for water sports enthusiasts. Adjacent is the marina surrounded by prestigious high spec town houses and apartments, the quay is also home to the water taxi service across the estuary to Starcross and is from where boat trips depart, all of which acts as a magnet for visitors to the area. Close by is the start of the glorious sandy beach whilst the town centre, railway station and bus station are only a short walk away. The expanding East Devon coastal town of Exmouth has enjoyed considerable development over recent years, lying approximately 11 miles from the City of Exeter, situated at the mouth of the Exe estuary, host to a substantial resident population which continues to grow, benefiting from a summer seasonal boost from holiday makers and day trippers, assisted by the recent construction of a new seafront hotel. The town enjoys excellent road and rail links with the M5 motorway network and West coast main line only a short distance.

Premises: Comprising 2 inter-connecting retail units, block paved ramped entrance to aluminium framed glazed double entrance doors opening to UNIT 1, a corner unit with glazed frontage and glazed return frontage, carpet tiles to the floor, spot lighting to the ceiling. Wall display shelving in respect of footwear, peg boarding in respect of beach shoes, wall hanging rails in respect of clothing. The area contains additional freestanding clothing hanging rails, 2 double sided clothing display gondolas, Crocs shoe display stand, Lazy Jacks clothing display spinner, glazed display cabinet and slat boarding providing additional clothing hanging display rails. Leading off is the CLOAKROOM, fitted with toilet and hand washbasin, to one end of the retail area is book display shelving in respect of handbooks, logs, charts and nautical/educational publications, in addition to life jacket wall display and ceiling suspended kit bag display. Adjacent SERVE OVER COUNTER, comprises 2 part glazed wooden units, houses till whilst behind are the smaller retail lines such as nuts and bolts. Through to inter-connecting UNIT 2, has the added benefit of its own glazed entrance door, overlooks the marina, fitted with a host of wall display shelving and containing 2 double sided sales gondolas in addition to numerous peg display stands in respect of traditional chandlery, maintenance and repair items, fishing tackle and on the water clothing, FITTING ROOM leading off.

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

Outside: We understand owners benefit from 2 CAR PARKING spaces whilst customers can take advantage of the free 20 minute stay 'hatched' CAR PARKING area.

Business: Reputed to have been established in 1975, acquired by the current owners in 1998, moving to the current premises in 2005 following their construction, only now offered for sale in order to pursue retirement. Retailing an extensive range of chandlery from leading manufactures - blocks, shackles, rope, anchors, fillers, resins, paint, cleaners, oil and consumables to name a few. Fishing items comprise rods, reels, floats, weights, hooks and bait. On the water clothing includes wet suits, waterproof clothing, boots, buoyancy aids, life jackets, gloves and bags, other clothing items include deck shoes, fleeces and hoodies. Top brands are stocked to include Lazy Jacks, Musto, Gill and Chatam. A wide customer base exists with some account customers held, comprising those working in marine businesses, sailors and fishermen, with a boost during the busy summer months from visiting sailors and holidaymakers.

Trading Hours: The business trades Monday to Friday 9.00am through to 5.00pm, Saturday and Sunday 10.00am through to 5.00pm.

Staff: Operated as a partnership by a husband, wife and daughter team, staff are not employed, the business is easily manageable, and one person can operate the shop during the quieter months.

Takings: Accounting information provided confirms consistent levels of sales and profitability over the years, in respect of the financial year ended 30th September 2018 Sales amounted to £180,917 ex Vat returning a Gross Profit of £70,675 equating to 39%. The low day to day operating costs ensures the business remains most profitable to owner operators. As previously mentioned, sales purely relate to shop sales, scope exists to build on these successful levels through development of the website and the introduction of online sales.

Comments: The sale of Peter Dixon Chandlery provides a rare opportunity to acquire an established respected profitable business which still lends itself to further development. New owners will benefit from valuable premises enjoying a most desirable setting, the likes of which rarely become available. A comprehensive handover is available to ensure a smooth transition to new owners.

Tenure: A Virtual Freehold being held on a 125 year Lease which commenced in 2005 with a peppercorn rent. Alternatively a new commercial lease is available, commencing rent £18,000 per annum.

Rates: £6,489 per annum payable in respect of 2018/2019.

Price: £199,995 for the benefit of the Virtual Freehold, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation which is negotiable OR £39,995 for the benefit of the new commercial lease, goodwill, fixtures, fittings & equipment (According to inventory) plus stock at valuation which is negotiable.



More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Exmouth (0.5 mi)
  • Starcross (1.2 mi)
  • Dawlish Warren (1.5 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.

Map & Street View

Nearest stations

  • Exmouth (0.5 mi)
  • Starcross (1.2 mi)
  • Dawlish Warren (1.5 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.

Disclaimer - Property reference MSX34071N. 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 EM&F , Devon. 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.

* Average speeds are based on the download speeds of at least 50% of customers at peak time (8pm to 10pm) from packages available on comparethemarket.com. Speed can be affected by a range of technical and environmental factors. The speed you receive where you live may be lower than that listed above. You can check the estimated speed to your property prior to purchasing. Fibre/cable services at your postcode are subject to availability. You can confirm availability on the provider's website. Providers may increase charges. You should have the right to exit your contract without penalty if this happens. The information is provided and maintained by Decision Technologies Limited.

Map data OpenStreetMap contributors.