Retail premises for sale in Lymington, Hampshire SO41

£75,000
Retail premises for sale
Interested in this property? Call +44 1772 913303 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Increase in Online Sales form previous years. Thriving business during lockdown restrictions providing Pure Cotton Fabrics for ppe. Established since 2013 and trading from this location since August 2
  • Showing a net profit of £30,000 with plenty of potential for growth
  • Immaculately presented premises throughout and expertly managed
  • A huge range of quality fabrics available supported by online sales with have improved during 2020

Property description

Reference - 47553

Description
Lymington is a port town on the west bank of the Lymington River on the Solent in Hampshire. It faces Yarmouth and the Isle of Wight, to which there is a car ferry service. The town is a popular tourist destination and has an affluent population due to the New Forest and its harbour. It is a major yachting centre, with three marinas.

The business is located at the top of the main town centre route and is superbly presented. The current turnover is £170,000 with a net profit of £30,000. 15% of sales are generated online, and this possesses plenty of potential for growth as well as increasing open hours.

There is a dedicated single car parking space at the rear of the property but no residential accommodation.

Sales
Currently shop sales average £153,938 2020

Accounts
Current records and accounts can be inspected when viewing.

Trading Hours
Tuesday – Saturday 09:00 – 17:00

Staff
Managed by the owner with 2 part time staff.

Building Internal
The building is a characterful three storey, is terraced and double fronted with large bright windows.

The main entrance is located at the centre of the premises and there is a second rear entrance with display windows accessed through Roundhouse Court.

Residential Accommodation
There is no residential accommodation for owners/management available.

Tenure
We are advised that the property is held on a 15-year lease which commenced in December 2005.

We have been advised by the seller that the landlord is happy to negotiate a new lease with a potential buyer at the end of 2020.

The currrent annual rent is £15,000 exclusive (correct as advised on 18/11/19). Rent reviews are at 5 yearly intervals.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

Summary
Nicola’s Fabrics is a fantastic fabric store located in the very affluent seaside port town of Lymington.

Immaculately presented and profitable with an excellent website that has substantial potential for growth.
Awarded a 'Highly Commended' 5 Star Award at the British Sewing Awards

An ideal acquisition for a fabric enthusiast, a complete novice or as a bolt-on business for interior or soft
furnishing designer. Early viewing is highly recommended.

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For more information about this property, please contact
Kings Business Transfer, PR2 on +44 1772 913303 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Kings Business Transfer, and do not constitute property particulars. Please contact Kings Business Transfer for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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