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Retail premises for sale

£19,950 (£19.95/sq. ft) Offers in region of

2 Spon Street, Coventry CV1

1,000 sq. ft*
Interested in this property? Call +44 121 721 9902 * or

* Calls to this number will be recorded for quality, compliance and training purposes.

Property features

  • Established business
  • Fantastic reputation
  • Protected brands
  • Stunning grade II listed building
  • Ideal bolt on business
  • Ideal starter business
  • Prominent location
  • Potential to increase turnover
  • Profitable

Property description

Leasehold Bridal Studio In Coventry For Sale
Ref 2070

Location

This outstanding concern is located on the famous and Historic Medieval Spon Street which is in Coventry’s City centre. The building is grade II listed, dates back to the 1400s and boasts natural beauty with exposed oak beams giving the business real authentic elegance. Coventry attracts many shoppers and tourists and offers easy access to all motorway networks.

Business information

Asking Price: £19,950 plus sav
Turnover: £135,482 pa net of VAT
gp: £81,585 (60%)
Adjusted Net Profit: £31,627
Stock: £30,000

Council Lease

Original term: 5 years
Remaining: 1 year (renewable)
Rent: £16,500 pa
Rates: £4,958.09p

Business Description

Veritas Business Sales are delighted to offer for sale this respected Bridal business which is located in Coventry City centre. The business was set up by my client in 1998 and has been in her careful hands ever since .Reluctantly they are offering the business for sale so that they can enjoy a well deserved retirement. Since ownership they have invested in new fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner and family operated and requires the help of 2 part time members of staff. The annual turnover is £135,482 with a gross profit of £81,585 and a healthy adjusted net profit of £31,627. The shop retails a fine selection of Bridal gowns with protected brand such as, Maggie Sottero, Ronald Joyce, Venus, Kelsey Rose, Rebecca Ingram and True Bride and they equate to 95% of the turnover with remaining 5% which comes from the sales of veils, tiaras and accessories.
We believe that there is further potential to increase trade by opening on Wednesdays and extending the range to Mother of the Bride, Bridesmaids and Prom dresses as they have regular enquiries about these and have to turn them away. The business already enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade along with recommendations from happy brides. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.

Opening Hours

Monday & Tuesday – 9.30am – 5.00pm
Wednesday – closed
Thursday – Saturday – 9.30am – 5.00pm
Sunday – closed

Ground Floor

Retail gown studio comprising: Sales counter with cash register, customer seating are with couch and 2 chairs, gown display hanging rails and 2 x fitting rooms.
W/C with hand wash basin

First floor

Kitchen with fitted units, sink drainer, fridge and microwave.
Landing with storage cupboards.
Storeroom which could be second retail showroom

External

Shared rear courtyard

The ground floor benefits from electric storage heating.


What Zoopla users think of Coventry

Overall rating:

  • currently 3.5 stars
Good - 73% (465 ratings)

Ratings breakdown:

  • currently stars
Community & safety
  • currently stars
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Parks & recreation
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  • currently stars
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  • 1
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Nearby transport

  • Coventry (0.5 miles)
  • Canley (1.4 miles)
  • Coventry Arena (2.9 miles)
  • Coventry Airport (3.1 miles)
  • Birmingham International Airport (10.2 miles)
  • East Midlands Airport (30.3 miles)
  • Sharpness Old Docks (62.6 miles)
  • Lydney Harbour (64.0 miles)
  • Castle Park Ferry Landing (80.2 miles)

Nearby schools

View all schools in Coventry
  • St Osburg's Catholic Primary School (0.2 miles)
  • Spon Gate Primary School (0.3 miles)
  • Bablake Junior School (0.4 miles)
  • City College Coventry (0.7 miles)
  • WMG Academy for Young Engineers (2.6 miles)
  • Hereward College of Further Education (2.6 miles)
  • Coventry Youth Offending Service (0.3 miles)
  • Bablake School (0.4 miles)
  • Barr's Hill School and Community College (0.5 miles)
Note: Distances are straight line measurements

Local info for Coventry

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* Sizes listed are approximations. Please contact the agent to verify actual sizes.

For more information about this property, please contact
Veritas Business Sales Ltd, B90 on +44 121 721 9902 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Veritas Business Sales Ltd, and do not constitute property particulars. Please contact Veritas Business Sales Ltd for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla 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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