Retail premises to let in 36 East Street, Southwold, United Kingdom IP18

Property Ref: 13178

A rare opportunity to take over this highly successful business in the popular seaside town of Southwold. High Tide was established in 2008 by the current owners and the business has gone from strength to strength being popular with both tourists and locals alike. Over the years the shop has built up a fantastic reputation for their extensive product range, and top-level customer service, enjoying a loyal customer base as well as high footfall from visitors.

A premium which includes goodwill, fixtures and fittings is for sale for £80,000. A new lease will be granted with a rent of £21,000 per annum (£1,750 pm) for a ten year lease with 3 year break clause. Stock is to be purchased at cost, upon at transfer.

The shop offers an extensive range of greetings cards, gifts and souvenirs - it enjoys a particular reputation for its large range of prestigious brand Jellycat, which attracts regular collectors

High Tide is in fantastic location, just a stone's throw from Southwold beach meaning it is well placed to take advantage of the increased footfall in the summer months.
The shop is run with one member of staff per day. Currently there is a manager working 4 days a week with another 2 members of staff covering the other days. The owners provide holiday cover as required.

Currently zero rated for Business Rates

Ground Floor Retail Space 305 square feet (28.38 Sq M)
Ground Floor Ancillary & Storage 93 Square feet (8.62 Sq M)
Basement storage 86 Square Feet (8 Sq M)

As well as the bricks and mortar business the sale includes the shop's well established website

Average turnover for the past two years has exceeded £250,000 with good retail margins on all stock.

The owners are now looking to retire and sell the business to someone with the passion and energy to build on their hard work and take the business to the next level. This presents a fantastic opportunity for a new owner to take on an established business with consistently good accounts, with the scope to further develop the offering.

Accounts and other business related information are available upon request will be made available to prospective purchasers on receipt of a signed confidentiality agreement....

For viewing arrangement, please get in touch with 99home.

If calling, please quote reference: 13178

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