Retail Shop

Filey, North Yorkshire
REF: 01015

Asking Price:
£19,950
Annual Turnover:
£52,000
Annual Net Profit:
TBC
Reduced
Recently Sold
REF: 01015
Photo of Retail Shop
Photo of Retail Shop
Photo of Retail Shop
Photo of Retail Shop

Overview

Tenure:
Leasehold
Established:
1984
  • Well Known Business
  • High Turnover
  • Strong Profits
  • Owner Operated

An exciting opportunity to purchase a popular and well known business within the seaside town of Filey.

The retail shop specialises in the profitable sale of Clothing, Household goods as well as gifts. The business would be ideal for owner operation and has solid potential for growth.

The business makes good use of a ground floor single storey lock up unit that is in a prominent position within a parade of other successful retailers and residential properties.

The split level property is entered through a single doorway within the centre of a glazed shop face that also promotes impulse purchase stock which is usually priced for promotion. The lower part oft he unit houses the carefully selected range of clothing that the business sells. There is a sales counter on the right hand side of this and a number of rails that are spaciously positioned.

To the rear of this and up a few stairs is a larger sales floor which is split into two aisles by a double sided sales shelf. There are a number of departments in this section which is well lit and practically laid out.

At the back of the premise is a kitchenette, WC and further storage for the shop.

Intelligent Business Transfer are pleased to offer to the market this well established and dynamic retailer that has been successfully trading in the same position for a number of decades in the desired seaside town of Filey.

The business sells an interesting range of products over split tier retail space. Primarily the business sells carefully selected clothing as well as a wide selection of household products to compliment an extensive range of tourist gifts.

The business is in an ideal position along Union street. This combines a strong tourist footfall with an accessible position for the locals whom fuel the business's winter trade. As a silt of this the shop is in a minority group of independent retailers who are able to open throughout the winter. This goes to show that the business is more than just a shop fuelled by tourism.

The property is if a very deceptive size and makes extremely practical use of the space available. The rent for the business is currently £625 and the premises is exempt from business rates for the next few years. As a result of this the business is genuinely profitable.

The yearly turnover figures for the business have always exceeded £50,000. The majority of this is taken in the summer months with a average summer revenue of £1500 per week. This generated strong profits of around a 50% margin on an average of goods.

The current owners have worked hard on order to develop the business and increase it's retail lines. There is a vast selection of clothing on offer in the lower part of the business that has been carefully selected by the owner. There is flexibly on the price of these products and the business regularly has popular sales.

Thee a a still tangible potential within the business and it would be suggested that any purchaser would develop the tourism section in the summer. This would require financial investment but could see an instant reward, especially with the growing number of visitors to the east coast.

The current owner have had the business for 4 years and are looking to sell in order to retire.

Viewing essential.

Location

Property

Annual Rent
TBC
Annual Rates
TBC
Lease Term (Years)
TBC
Lease Expiry (Years)
TBC
Accommodation Included
TBC
EPC Rating
C 51-75

Financial & More

Annual Turnover
XXXX
Annual Net Profit
XXXX
Stock at Valuation
XXXX
Company Accounts
XXXX
Trading Entity
XXXX
Management Structure
XXXX
Number of Employees
XXXX
Current Ownership
XXXX

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