Retail premises for sale in The Square, Shrewsbury SY1

£199,995
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Retail premises for sale
Tenure: Not available Council tax band: Not available

Property description

Business
Please quote reference B06880

Hilton Smythe are pleased to have been given the opportunity to manage the sale of Carol Grant Limited which is a well-established high end fashion shop with a renowned reputation amongst local residents. This is a superb opportunity to take on a high turnover local business in an area teeming with customers.

Carol Grant Limited was founded by the current owner in 1992 after she moved to Shrewsbury having previously owned a fashion shop in Oxford. The business has been a real labour of love for her accruing an impressive number of regular customers and an unrivalled reputation.

This lovely business is now being sold, albeit reluctantly and with a heavy heart only due to the vendor wish to take a well-earned retirement, she is keen to see her beloved fashion shop pass to an ambitious and entrepreneurial new owner(s) who can take this already thriving business to the next level.

The business prides itself on finding new collections and, drawing on the owners experience, ensuring the designers stocked remain fresh and exciting. The experienced sales staff are always available to offer help and advice and the business takes great pleasure ensuring that their customers leave the shop happy with their purchase.

The business has an impressive number of regular and repeat customers, some of whom travel from all parts of the UK to visit and many of whom are known on a first name basis by the owner who is a popular and well respected member of the local community.

Carol Grant Limited offers designer collections for women, chosen with flair. Designers include;


  • A G Jeans

  • Angela Caputi

  • Annette Gortz

  • Coccinelle

  • Greenstone

  • Elemente Clemente

  • Hale Bob

  • High

  • Lauren

  • Mac Jeans

  • Marc Cain

  • Oakwood

  • Repeat Cashmere

  • Riani

  • Rosso 35

  • Sarah Pacini


The sale will include the company website () and Facebook page and the business enjoys great visibility on the internet along with impressive reviews such as -


  • “Fabulous staff, always very friendly. The clothes are amazing and it’s wonderful to have designs and designers not readily available in the usual high street shops. You can always find an outfit that you’re not worried about bumping into someone else in the same one. I travel 60 miles to Carol Grants and I thoroughly recommend the experience“


  • “Helpful and friendly staff, was made to feel at ease which made deciding on my outfit a real pleasure “



  • “Welcoming, Stylish, Classy. The owner is a real lady”



Scope to improve -


  • Extend the opening hours especially on Sundays when the square is full of diners and tourists

  • Upgrade the existing website ideally adding an e-commerce facility. This should prove especially lucrative and would increase turnover significantly

  • Maximise the use of social media

  • Advertising and marketing campaign


Reasons to Buy -


  • A well-established business with an enviable reputation and many existing customers.

  • The sale will include a database of approximately 3000 active buyers

  • Current owner would be happy to offer a handover to ensure the continued success

  • Ideal owner managed or partnership business or lends itself as a bolt on to an existing fashion business

  • Prime trading position in the fabulous Square in Shrewsbury

  • A real opportunity to increase turnover and profits significantly, the current owner has been running at a pace to suit.


Very rarely do fashion / clothing businesses of this calibre come to the open market. This is the nicest of this type of business we have seen for many years so early enquiry comes highly recommended.

Location
Carol Grant Limited is located in Shrewsbury.

Shrewsbury is a market town and the county town of Shropshire, on the river Severn, 150 miles north-west of London. At the 2011 census it had a population of 71,715. The town centre has a largely unspoilt medieval street plan and over 660 listed buildings including several examples of timber framing from the 15th and 16th centuries.

9 miles east of the Welsh border, Shrewsbury serves as the commercial centre for Shropshire and mid- Wales, with a retail output of over £299 million per year and light industry and distribution centres such as Battlefield Enterprise Park on the outskirts. The A5 and A49 trunk roads come together as the town’s by-pass and five railway lines meet at Shrewsbury railway station.

Carol Grant Limited is ideally situated in The Square which lies at the heart of Shrewsbury’s town centre. Home to a jam packed calendar of exciting events and markets, The Square is a near constant hive of activity.

Around its perimeter you will find an eclectic mix of independent and national eateries and retailers with high end brands such as Jigsaw, Pockets, Barbour and of course Carol Grant Limited.
From Italian and French cuisine to baby clothes and men’s shoes – you can find it all in The Square

The business is beautifully presented and maintained with clear visible signage and distinctive livery and benefits from really high levels of footfall and passing trade along with regular custom.

There are a number of public car parks within easy walking distance of the premises.

Premises
The business occupies the ground and lower ground floor of an attractive, period, four storey building which extends in total to approximately 1,761 Sq.Ft (163.6 Sq.M) and briefly comprises -

Ground Floor


  • Retail Shop - Floor to ceiling windows and a half glazed door creating a light, airy and inviting, generous boutique with a pleasing upmarket feel, retaining many period details and with high ceilings which enhance the feeling of space. Feature pendant lighting and spotlights. Part wood effect laminate and carpet flooring, perimeter and freestanding clothing rails, changing booth with mirror, timber and glass display unit, bespoke timber counter with card machine and computer monitor, customer waiting are with two comfy armchairs.

  • Stock Room - With bespoke shelving, high ceilings, fluorescent lighting. Kitchenette area with stainless steel sink and drainer, base unit with two doors, wall mounted water heater, space for table and chairs, small flight of stairs to fire exit.

  • WC - With close coupled toilet.


Lower Ground Floor


  • Further retail area With perimeter clothes railing, changing booth with mirror, large freestanding mirror, office area with desk and chair.


Total Accommodation


  • Shop Frontage 5.87m 19’3”

  • Shop Depth. 18.28m 59,9”

  • Ground Floor retail area 83.96sqm

  • Rear Stock Room 24.18sqm

  • Lower Ground retail area 55.46sqm



Tenure
We are advised that the business is being sold on a Leasehold basis, with 5 years remaining on the 25 year lease. The rent is £37,500 per annum and has rates payable at £5,391 per annum.

Hours
The business hours are -

Monday – Closed
Tuesday – 10:00 – 17:00
Wednesday – 10:00 – 17:00
Thursday – 10:00 – 17:00
Friday – 10:00 – 17:00
Saturday – 10:00 – 17:00
Sunday - Closed

Staff
We are advised that the business is owner run and managed, with the help of 4 part-time members of staff.

Financial Profile
We are advised as per the 2019 accounts, the business generated a turnover in the region of £485,000, with an adjusted net profit in the region of £115,000. Full financials can be made available upon further request.

Please quote reference B06880

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For more information about this property, please contact
Hilton Smythe Business Sales, BL1 on +44 1204 351867 * (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 Hilton Smythe Business Sales, and do not constitute property particulars. Please contact Hilton Smythe Business Sales 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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