Retail Property (high street) for sale

Teignmouth, Devon

£19,995

Property Description

Commercial information

  • Business for sale

Key features

  • Town centre trading position close seafront
  • Character premises, refitted in recent years
  • Front & inner retail areas & 2 fitting rooms
  • Stocks niche quality lines
  • Sales 77,243, profitable business
  • Low overheads - rent less than 200 per week, 100% rate relief
  • Easily manageable, can be run by one person
  • Sound following of local trade plus seasonal boost
  • No direct competition
  • EMF reference number: W34405N

Full description

Tenure: Leasehold

Description: An easily manageable and popular ladies fashion retail outlet stocking affordable niche quality clothing lines together with a range of accessories not readily available elsewhere in the town. Operating from attractive town centre premises which have been totally refurbished in recent years with no major expenditure considered necessary. Extending to the rear quite some length, providing front and inner retail areas, fitting room area, inner lobby, storage, kitchen and cloakroom whilst outside to the rear is a garden. Such are the lines stocked and with no real direct competition within the town a sound following has been established providing regular trade with a boost from the visitors and holidaymakers.

Location: Occupying an attractive town centre trading position, in a character pedestrianised shopping thoroughfare, nestled amongst other retail businesses and popular catering establishments to include a newsagents, cake shop, toy shop, restaurant and public house. Teign Street links Quay Road with Fore Street from which the business is visible, at one end is a shopper's car park whilst at the other a number of national retailers and situated within close proximity ensuring good levels of pedestrian foot flow. A short walk away is the seafront with its popular attractions, esplanade with its lawn areas, sandy beach and Victorian pier. The nearby estuary is home to the working port, numerous yacht moorings and the ferry taking passengers across the estuary to Shaldon.

Area: Teignmouth lies on the north bank of the Teign Estuary, it plays host to a good size resident population ensuring all year round trade but enjoys a substantial summer boost from tourists and holiday makers. The town lies approximately 9 miles from Torquay, 6 miles from Newton Abbot and 15 miles from the City of Exeter with the nearby A38 dual carriageway providing good communication links.

Premises: Character premises presented to a high standard, feature glazed bay window double frontage, central entrance door opening to FRONT RETAIL AREA, protected by CCTV, wood effect vinyl flooring, raised wooden window display plinths, and contains mobile hanging display rails, shelving display unit, 2 display tables and display dresser. To one side, SERVE OVER COUNTER with electronic till, through to INNER RETAIL AREA also with wood effect vinyl flooring, feature fireplace, additional mobile hanging display rails, shelving display units, mirror and seating. Leading off are the FITTING ROOMS, side aspect, carpeted, modern lighting, there being 2 fitting rooms with mirrors. The premises continue to the rear and the INNER HALLWAY, provides some storage via wall shelving and storage racking, provides access to the CLOAKROOM fitted with toilet and hand washbasin, a further REAR LOBBY AREA exists providing further storage via hanging rails. Leading off the rear lobby is the KITCHEN, rear aspect over garden, fitted with stainless steel sink/draining unit, back door opens to the rear of the property.

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

Outside: To the side of the property and accessed from the fitting room area is the BIN STORAGE AREA whilst to the rear is a GARDEN.

Business: Established by the vendor in 2016 following refurbishment of the premises, only offered for sale due to commitments associated with other businesses and that of a young family. Offering a boutique experience, retailing quality niche ladies clothing lines, typically affordable smart casual Italian lines of the Lagenlook style, appealing to a wide spectrum of ages. A range of accessories are also available comprising scarves and costume jewellery, lucrative labels are stocked to include Tempest, Robell, Pom and Hot Tomato accessories. A strong local following is enjoyed with a boost from the many visitors to the town.

Trading Hours: The business trades Monday to Saturday 10.00am through to 5.00pm.

Staff: The business is easily manageable and can be operated by one person, due to other business interests and family commitments the business is predominantly operated by staff on a day to day basis, there being 4 part time members of staff employed.

Takings: In respect of the financial year ended 30th April 2019 Sales amounted to £77,243 and a Gross Profit of £40,567 was returned equating to 53%. The low overheads associated with the premises ensure the continued profitability of the business, in particular if owner operated, with Net Profits before wages of £27,796.

Comments: The sale of The Sail Loft provides an opportunity to acquire an easily manageable popular business, new owners will benefit from stylish premises enjoying low overheads within a character shopping thoroughfare. It should be noted new owners will be required to change the trading name of the business within an agreed period of time.

Tenure: Held on the residue of a renewable 10 year Lease which commenced in 2016, current rent £10,000 per annum.

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

Price: £19,995 for the benefit of the Leasehold, Goodwill, Fixtures, Fittings & Equipment (according to inventory) plus stock at valuation.



More information from this agent

Nearest stations

  • Teignmouth (0.2 mi)
  • Dawlish (2.8 mi)
  • Dawlish Warren (4.3 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

Nearest stations

  • Teignmouth (0.2 mi)
  • Dawlish (2.8 mi)
  • Dawlish Warren (4.3 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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