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Property Listing Details

Property details

Features

  • Well established gift shop in prominent trading position
  • Located in popular coastal town in west cornwall
  • Sales in the region of £84,000 pa
  • Offered with the benefit of A new lease
  • EPC rating C

Listing view statistics

Last 30 days: 38 page views

Since listed: 257 page views

Description

A well Established Gift Shop prominently located in the popular coastal town of Penzance in Cornwall.
Retailing a wide range of gifts, jewellery, cards and homewares from both well known brands such as Gisella Graham and local cornish suppliers.
Being offered with the benefit of a new lease.

Location

The historic, picturesque coastal town of Penzance is located in South West Cornwall and is the administrative and commercial centre for the former Penwith District. Drift is well located on Market Jew Street which is the main thoroughfare through the town.

In addition to a continually expanding residential population, Penzance remains one of the County's most popular holiday destinations, being surrounded by a myriad of visitor attractions such as St Michael's Mount, The Minack Theatre, Lands End and National Trust properties such as Trereife House and Trengwainton Gardens.

The Property

Drift occupies a three storey property on Market Jew Street comprising a beautifully presented retail sales area and staff kitchen to the ground floor, with storage on the upper two floors.

The Business

Retailing a wide range of gifts from both well known retailers such as Gisella Graham, Coach House, Lily Flame and numerous locally made products, the business has been in our client's tenure for the past 12 years and is operated with the assistance of 2 part-time members of staff.

The business trades all year round operating from 10am to 5pm, 6 days a week however, it is considered there is scope to extend the trading hours certainly through the height of the season.

Trading accounts for the year ending 30th June 2017 show sales of £84,143 with a gross profit margin of 56%. After making the usual adjustments for finance costs, depreciation and motor expenses and on the assumption that the business were operated by a 'husband and wife team' the adjusted net profit would be in the region of £26,500 per annum.

The Accommodation Comprises

(all areas and dimensions are approximate)

Main Retail Sales Area

11.26m x 3.70m. A beautifully presented sales area with a eclectic mix of both built-in and freestanding displays. Built-in counter with electronic till, door to:-

Staff Kitchenette

3.995m x 1.360m. Stairs to upper floors:-

First Floor

Staff Wc

Range of built-in and free standing shelving for stock storage. Stairs to:-

Second Floor

Storage area

General Information

Local authority
Cornwall Council
General Enquiries Planning

Tenure - Leasehold

The business is currently held on an internal repairing and insuring lease at a passing rental of £650 per calendar month. We understand that a new lease will be granted on completion with terms to be negotiated.

Energy Performance Certificate

The Energy Performance Rating for this property is within Band C.

Inventory

An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.

Business Rates

We refer you to the government website .

Services

Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: South West Water: Transco:

Stock

To be taken at valuation.

Value Added Tax

All the above prices/rentals are quoted exclusive of VAT, where applicable.

Finance

If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below.

Contact Information

For further information or an appointment to view please contact either:-
Graham Timmins on or via email or
Paul Collins on or via email or
Beverley Northey on or via email

Plans: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

Agents note: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial llp registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial llp is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial llp. VAT Registration No.

viewing: Strictly by prior appointment through Miller Commercial.

Map & Nearby

Local Amenities

  • Penzance 0.1 miles
  • Penzance Ferry Terminal 0.3 miles
  • St Mary's Catholic School, Penzance 0.4 miles
  • Humphry Davy School 0.4 miles

Local map of the area

Map and Street View Map showing location of property

Local Amenities

  • Penzance 0.1 miles
  • Penzance Ferry Terminal 0.3 miles
  • St Mary's Catholic School, Penzance 0.4 miles
  • Humphry Davy School 0.4 miles
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Property descriptions and related information displayed on this page are marketing materials provided by Miller Commercial. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Miller Commercial for full details and further information.