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
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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.
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.
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.
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:-
3.995m x 1.360m. Stairs to upper floors:-
Range of built-in and free standing shelving for stock storage. Stairs to:-
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.
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.
We refer you to the government website .
Prospective owners should make their own enquiries of the appropriate statutory undertakers: Western Power: South West Water: Transco:
To be taken at valuation.
Value Added Tax
All the above prices/rentals are quoted exclusive of VAT, where applicable.
If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below.
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.
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