For Sale £25,000

Teme Street, Tenbury Wells, WR15 - £25,000

Business For Sale.
Greetings Card and Gift Shop situated in the picturesque riverside town of Tenbury Wells on the Worcestershire/Shropshire border, in a sought after position in the High Street ...Read Less

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Situation
 This Greetings Card and Gift Shop is situated in a picturesque riverside town on the Worcestershire/Shropshire border, in a sought after position on the High Street, which hosts on the commercial side a bank, a Chartered Surveyors, three public houses, a pharmacy, a cinema, dentists, optician and insurance agent. The retail sector includes a newsagent, pet shops, confectionery shop, three cafes, hardware stores, electrical goods retailer, jewellers, ladies beauty salon, a vegetable shop, a fish shop, ladies and men's hairdressers, a recently opened butcher and wet fish outlet and a Spar convenience store. The post office which was at the far end of the town closed 2 months ago and is now to be re-opened in the Spar shop virtually opposite Nice Things. The shop has street parking outside and opposite, plus further parking in the Tesco store which opened up some 18 months ago. Further car parking is available to the rear of the Public Library, off Teme Street.

  
Description
 A double fronted, Grade II listed shop with good display windows and pedestrian door off pavement

  
Accommodation
 Front shop - with exposed beams circulating around the sales counter, rear display area extending to 51.6 sq m (555 sq ft) Rear Lobby - with WC and hand wash basin, small storage area. Extending to 11.9 sq m (128 sq ft)

  
EPC
 Exempt (as property is listed)

  
Business
 The family run business has been trading for 28 years and has provided a decent living during this time. The reason for sale is for family and health reasons and the business would benefit from a more hands-on approach, presently run by staff but would suit an owner run arrangement. Competition is minimal with one shop selling greetings cards and another selling gifts.

  
Accounts
 The last 3 years Accounts are available if required. Net Sales for the year ended 31st August 2018 were £65,858 gross profit margin 57%

  
Rent
 £6,000 per annum. The landlord would be prepared to grant a new Lease to the business purchaser

  
Lease Terms
 Subject to negotiation, minimum term to apply. Internal repair basis. N.B Alternatively a Long Leasehold interest (98 year) may be available to purchase for a capital premium, subject to separate negotiations

  
Stock
 Existing stock is excluded from the purchase price but available at cost

  
Services
 Mains Electricity Mains Water and Drainage

  
Outgoings
 Rateable Value £7,040, which qualifies for Small Business Rates depending on occupier

  
Fixtures & Fittings
 Those fixtures and fittings associated with the business will be included in the sale price. An inventory is available on request

  
Business Hours
 Monday to Friday 9am - 5pm Saturday 9am - 4pm Sunday - Closed

  
Directions
 Cross Teme Bridge into the Town Centre, the shop is equidistant between the TSB Bank and the Regal Cinema on the right hand side

  
Further Information
 https://www.facebook.com/Nice-Things-Tenbury-Wells-1797645430502017/

  
Viewings
 Viewings of the premises are strictly by appointment with Franklin Gallimore. No prospective purchaser is to make any enquiries at the premises wothout prior agreement of Franklin Gallimore

  
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Letting fees no longer apply

 Deposits are limited to 5 weeks rent and this amount will apply.Holding deposits of one weeks rent are requested and they will be returned if references fail.Should references be passed and the tenant withdraw through their own choice the holding deposit will not be returned.

IMPORTANT NOTICE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.