Retail Property (high street) for sale

Exeter, Devon

£38,500

Property Description

Commercial information

  • Business for sale

Key features

  • Situated in developing City Centre shopping area
  • Smart versatile 2 storey premises
  • Retail areas, work studio, storage & cloakrooms
  • Established 10 years, famous destination business
  • Sales 151,347 ex Vat, Gross Profit 61,970
  • Rent just over 150 pw, benefits from 100% business rates relief
  • Lifestyle Store stocking niche lines not available elsewhere
  • Business enjoys regular repeat trade
  • Easily manageable, ideal owner operators
  • EMF reference number: MG34668N

Full description

Tenure: Leasehold

Description: An established popular retail business, a 'Lifestyle' store offering a range of items and gifts for the individual and the home, concentrating on niche items not easily found elsewhere. Operating from deceptively spacious premises which actually extend over 2 levels and to the rear quite some length, fitted and presented to a high standard, providing split level ground floor offering front and rear retail areas, staff kitchen/cloakroom facilities, lower ground floor work studio, currently utilised to offer a framing service, contains a host of valuable equipment, could suit a variety of trades. An attractive aspect of the proposition are the low premises overheads, the rent amounting to just over £150 per week and the premises currently receiving 100% business rate relief. Such is the length of time established coupled with the eclectic range of stock items available the business enjoys a strong following providing regular repeat trade.

Location: Enjoying a City Centre trading position a short walk from the main shopping High Street with its national retailers, situated on Fore Street which continues to grow in popularity, being a shopping destination in its own right, being famous for its eclectic range of independent vintage shops, this includes a shoe retailer, hat shop, belt shop, barbers, antique shop and 'The Real McCoy', the south west's leading vintage destination with clothing and homewares, in addition to a number of catering establishments. Fore Street is a busy pedestrian and vehicle thoroughfare, benefiting from restricted on street car parking with shopper's multi-storey car parks a short distance away, it links the High Street with the Quayside and busy Exe Bridges together with residential areas, student accommodation, and riverside apartments. Exeter, the capital City and County Town of Devon is host to a substantial resident and student population, of late the City has experienced considerable economic growth, assisted by the re-location of major companies and opening of new stores by national retailers.

Premises: Presented and fitted to a high standard in an 'industrial' style with a number of bespoke items. Wooden framed glazed double frontage, central glazed entrance door opening to the FRONT RETAIL AREA, wood effect laminate flooring, part tiled walls, wall display shelving, window and ceiling pendent lighting. Side glazed SERVE OVER COUNTER with till, greetings card display, display table and glazed jewellery display cabinet. Raised REAR RETAIL AREA, continues with wood effect laminate flooring, benefits from 2 skylights, magazine display racking, feature copper pipe hanging display rails, display table and fitting room. Rear STAFF KITCHEN fitted with stainless steel sink/draining unit, incorporates CLOAKROOM fitted with toilet. Stairs to LOWER GROUND FLOOR, very versatile, part carpeted, part laminate flooring, inset spot lighting and florescent strip lighting, suit numerous uses, currently a framing studio with both front and rear work areas and further CLOAKROOM with toilet. To the front, wall mounted glass cutter, mount cutter and Morso Mitre guillotine. To the rear, silent compressor, underpinner, work bench, corner hand washbasin and shower cubicle.

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

Business: Established by the vendors in 2009, only now offered for sale due to family commitments and time constraints associated with other business interests. Considered a forerunner of the 'Lifestyle' store, offering a range of accessories and gifts for the individual and the home, being environmentally aware, concentrating on niche individual items not easily available elsewhere, stocking items from small private independent manufactures as opposed to mass produced items. Stock lines include plants such as cacti which prove particular popular, handmade greetings cards, costume jewellery, soy wax candles, ceramics, bags, books, quality collectable magazines and stationery, some clothing items, and environmentally/vegan friendly cosmetics. A picture framing service is available although this is not currently actively promoted due to time constraints but could easily be built back up as strong demand exists, alternatively the studio could be used for another trade such as jewellery making. Such are the retail lines on offer the business commands a strong following ensuring a great deal of regular repeat trade together with recommendations received. A website is maintained - which lends itself to further development, building on the current levels of online sales.

Trading Hours: The business trades Monday to Saturday 10.00am through to 5.30pm.

Staff: Operated by a couple, albeit due to other business interests and family commitments they do not work full time in the business, 1 part time member of staff currently employed, the business is easily manageable and can be operated by one person the majority of the time.

Takings: Accounting information provided in respect of the financial year ended 31st March 2019 confirms Sales of £151,347 ex Vat returning a Gross Profit of £61,970 equating to 41%. The low day to day overheads, in particular those associated with the premises ensures sound levels of profitability to new owners, in particular if operated by a couple.

Comments: The sale of No Guts No Glory provides an opportunity to acquire a famous destination business which still lends itself to further development. New owners will benefit from spacious versatile trading premises benefiting from low overheads.

Tenure: Leasehold, we understand a new Lease is available to new owners at the outset, rent £8,000 per annum.

Rates: Currently 'Nil' after 100% rate relief.

Price: £38,500 for the benefit of the Leasehold, Goodwill, Fixtures, Fittings and Equipment (according to inventory).



More information from this agent

Energy Performance Certificates (EPCs)

Nearest stations

  • Exeter St. Thomas (0.3 mi)
  • Exeter Central (0.4 mi)
  • Exeter St. Davids (0.7 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

  • Exeter St. Thomas (0.3 mi)
  • Exeter Central (0.4 mi)
  • Exeter St. Davids (0.7 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 MG34668N. 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.

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