Bungalow for sale in Garenin, Isle Of Lewis HS2

The property

This property was previously a two bedroom bungalow, built in the 1950’s for one of the original inhabitants of the Blackhouse Village as part of the government scheme to rehouse people out of the Blackhouses. The current owners /vendors obtained planning permission to convert the property into part commercial and part residential. The original kitchen and lounge have been knocked together to make one large, light and open retail space.
The remaining hall, bathroom and two bedrooms are separated from the gallery by a door and make up the owners accommodation. The main bedrooms has been converted into a lounge/kitchen. There is also a very large attic mainly boarded with a pull down ladder. The attic was originally used as the store room. There is a separate external access to the residential accommodation

Grounds/land

The property benefits from substantial grassed areas to the back front and side of the property. The owners are to retain ownership of the croft. However, the owners would be happy to consider the sale of the croft or the provision of additional land to suit any future development plans/business opportunities.
The land at the front and the side of the property provides excellent visibility for marketing/additional income opportunities. There is also a wee Bothy at the front of the garden which is used as an additional display /advertising area
The property also benefits from 5 parking spaces built as part of the original planning application

Key information

Lifestyle Freehold business
Commercial/Residential property including owners accommodation
Located next to one of the most popular tourist attractions on the Isle of Lewis

Key features

Benefits from substantial footfall from independent visitors, coach tours and organised trips from cruise ships
Adjusted net profit of c£22,000 from 6 months pa seasonal trading
Operated by one individual/owner – currently in the 4th year of trade
Includes owners one bedroom living accommodation
Includes parking for 5 cars
Enticing frontage including signage and Wee Bothy
Feature steps leading to the shop with outside decking and seating
On large plot/garden with additional land available if required
Huge potential to cater for the growing cruise ship/tourism business
Council Tax Band A (last year £750)
Below the threshold for commercial/business rates

Profitablity

The business began trading at the end of Covid on the 1st May 2021. Audited accounts for the 2 years to March 2023 are available. Trading accounts supported by VAT returns are available for the 12 months to March 2024. The business has been achieving a Gross Margin of c£26,000. With limited overheads, this results an adjusted Net Profit of in excess of £22,000 from 6 months per annum seasonal operation.

Trade

The business is open 10.30am to 5.00pm 6 days per week from the 1st April to the 30th September. At present the owners do no internet sales. The business sells a mix of art and gifts (mainly local/Scottish) – providing a whole range in terms of price, size and offering.

Business opportunities

There is the opportunity to extend the property to increase the range of products and services and other business streams.
Given its unique location there is considerable scope to diversify into many other additional business opportunities such as café/a takeaway service of drinks snacks etc. There is room for the provision of additional outside seating. Internal seating could be created by building a conservatory on the back to take advantage of the wonderful views (subject to planning). There is also the option of obtaining an alcohol license and doing ‘Whisky Tastings’ or sales – likely to be a big hit with the cruise ships.
As indicated, the current owners have limited/no internet presence. This is a clear area of development particularly for Christmas sales

The business is currently run by the owners’ son (Joe) who is a professional photographer. He sells his own work in the gallery along with many other artists and creators. Joe has decided to follow his long held ambition to train as a nurse. As such, the owner wishes to retire rather than run the business themselves.
EPC – in process

Viewings strictly by appointment through this agency.

The above details are believed to be correct but are not definite; they are simply intended to indicate the main features of the property. These details will not form any part of a contract. Interested parties should satisfy themselves on all details. The availability of this list does not necessarily imply that any property is still available.

Company Registration No. 228241. Place of Registration: Scotland. Registered Office: 20 Francis Street, Stornoway, HS1 2NB.