Essex - 0 bed - £95,000 - Dedman Residential

Property details

Bedrooms: 0

DESCRIPTION:
Owned by our Client since 1992, and comprising a well established Gift Shop "with something for everyone"! A business with lots of expansion potential. The location is suitable for a wide variety of other retail uses. Ground floor premises in approx 500 sq.ft. surrounded by major brand names including KFC & Subway. New 10 year lease available.

Location The property occupies a well regarded location, with a number of nationally & internationally famous brand names including KFC & Subway. Chelmsford is the county town of Essex, and is located approximately 32 miles (51 km) northeast of Charing Cross, London, and about the same distance from the once provincial Roman capital at Colchester. The town currently has a population of approximately 102,400 however this is thought to be rapidly increasing on a year by year basis with many people from Essex and the London borders re-locating to the County town.

Property Ground floor retail shop premises in approx 500 sq.ft. with a splayed frontage. Comprehensively fitted with an abundance of displays, and toward the rear, a small area for storage and staff facilities. Side passageway with an area given over to the storage of refuse.

Turnover Having analysed our Clients most recent accounts, and applied commonly accepted principles, we have calculated a net profit of some £30,392.

Hours The business is open from 10am till 5.30pm Monday to Saturday.

Staff The business is run by the vendor with 3 staff.

Potential We are convinced that in spite of the business being successful, it has further scope with a much more aggressive marketing campaign and a more comprehensive use of the internet to generate web-based sales. The existing website, ww.stuffsamust.com provides a comprehensive insight into the business, as well as an indication of the real scope of the business with a much more aggressive web based sales campaign.

Tenure Leasehold. The existing lease expires in 2014. However, our Client has confirmed that the landlords are willing to grant to the purchaser a new lease for 10 years.

Commencing Rent £10,000 per annum.

Rates The 2010 VOA website reveals a rateable value of £12,750. Our Client pays £3,897 per annum after small business rates relief.