Retail premises for sale in St. Marys Street Mews, Truro TR1

A fantastically-presented artisan gelato ice cream & macaron bar business which is located in Cornwall's capital city of Truro, presenting an ideal lifestyle business opportunity for a purchaser. The business was recently mentioned in a Sunday Times article "Are you a Gelato Snob". The premises is fully equipped to trade with state-of-the-art Italian machinery for on-site production of the products, with an initial investment for the fixtures & fittings c£100,000. This is a rare opportunity to acquire a profitable business of this type which is being offered with a genuine reason for sale. The business was established by our clients approximately 10 years ago who have gone on to build up a fantastic reputation in that time. There are high levels of regular repeat custom in addition to the constant high levels of tourist trade which the area attracts. The business is also set up and able to accommodate events, as they have 4 ifi Gelato Coolboxes which are included within the sale price. The business is profitable in its current form, but leaves massive scope to increase further by adding commercial contracts to supply gelato/ice cream to surrounding businesses in the area, with some business owners having already approached our clients previously, asking them to supply their business, so there is a demand for that service which our clients were not able to accommodate. Gelato and Macaron training can be available if required by a purchaser. Viewing recommended to avoid disappointment. Cost of Stock to be paid on Completion. Our ref: Rx 262297 C6575C

Tenure

Our client is currently holding over on a secure lease inside the landlord and tenants act 1954 at a current rental of £9,600 per annum exclusive. We are advised a new lease can be made available for a term to be agreed, subject to references and landlord approval

Premises

A lock-up retail shop with fascia board, glazed frontage, a walkway to the right of the premises, external seating for 6 covers, and a single glazed entrance door leading into the premises which measures approximately 338 sq. Ft. (31.5 sq. M.) which is arranged as follows:

Main Serving Area

Measuring approx. 246 sq. Ft. (22.9 sq. M.) with breakfast bar seating for 8 covers, macaroon display counter, ice cream cone display unit, display fridge, glass display unit, gelato/ice cream display/serve-over counter (Gelo Standard). Behind the counter is a stainless steel wash-hand basin, CCTV system, shelving, product advertising boards, 2 x blenders, 2-group coffee machine (Sanremo), coffee grinder, waffle iron, stainless steel under-counter fridge, under-counter display fridge and Bilait counter-top chocolate tempering machine

Rear Prep Area

A door at the rear of the main serving area leads through to rear prep area measuring approx. 93 sq. Ft. (8.6 sq. M.) arranged to provide walk-in freezer, blast freezer, under-counter fridge, a 3-in-1 gelato ice cream machine, dishwasher, oven, various kitchen counters, pastry mixing machine, various cooking equipment and sink.

Trading Hours & Staff

In 2022 our clients traded from mid-April through to end of October, with the current trading hours being Monday-Friday 12:30-16:30, Saturday 12:00-17:00 and Sunday 12:00-16:00. In 2023 our clients opened from mid February. These are the hours our clients have chosen to trade the business, so leaves massive scope for a purchaser to extend the trading hours and open for the remaining months of the year, which our clients have chosen not to do. The business is run by the vendors only

Turnover

Turnover information can be made available to seriously interested applicants on viewing the business with our clients, but our clients can confirm year on year growth in turnover working to gross profit margins of approximately 85%

Business Rates

The premises is subject to a rateable value of £12,000 resulting in zero business rates payable should small business rate relief apply to a purchaser

Legal Costs

Each party are to be responsible for their own legal costs incurred in the transaction, with the landlord's legal costs for the surrendering of the existing lease to be the responsibility of the vendor and the landlord's legal costs involved in the granting of the new lease to be the responsibility of the purchaser

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission