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Retail premises for sale

£29,995

5 Spencer Street, Birmingham B18

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Property description

Business
Hilton Smythe welcomes to the market Wedding Quarter. The bridal store was established by our clients in May 2014. The owners are now looking to sell the store due to relocating their home and the desire to focus on other business interests.

The business is located in the heart of Birmingham’s famous Jewellery Quarter – easily accessible by car, train, tram and bus. The Jewellery Quarter is a busy retail area with lots of newly engaged couples travelling from all over the country shopping for their engagement rings.

The store offers a wide variety of wedding gowns ‘off-the-peg’ from various brands to suit all budgets and timescales with stock changing on a regular basis Wedding Quarter is also an official stockist of well-established brands Rainbow Club and Linzi Jay for bridal shoes, veils and accessories.

The business has built up an enviable reputation within the area and bridal industry for their high quality of the couture and services offered and has built up a fantastic array of customer reviews. The business therefore benefits from a very high volume of word of mouth recommendations.

Wedding Quarter was voted a regional finalist in the Wedding Industry Awards for 'West Midlands Bridal Retailer of the Year 2017’ and have recently been shortlisted for 'Best Bride Book Profile 2017'. The most recent award is for ‘Best Bridal Boutique Award 2018 – Finalist’. These are highly recognised awards.

The business generates a turnover in the region of £72,000 per annum, with a gross profit of 61%. This is a healthy turnover; however, we feel there is scope to increase this figure. We feel the purchaser could look to introduce further brands and expand the business opening hours with a view to also offering an in-house alteration services to increase further revenue. This would broaden the customer base and allow for an increase in sales.

The business already has an excellent informative website in place, (). This is an easy to use website that looks professional. The site is included in the sale. There is potential for the new owner to invest in redeveloping the website to offer online appointment booking and an online store. Complimentary to the website site is the businesses social media pages which include: Google+, YouTube channel, Instagram, Twitter and a Facebook page. The Facebook page is a huge asset to the business and has nearly 7,500 followers - this is exceptional and allows for cost effective advertising. Our clients also boast an extensive mailing list, this will be also be supplied to the purchaser.

This is a fantastic Leasehold opportunity that would be perfect for a small family team ready to take the business onto the next level or as an additional bolt-on business. Hilton Smythe highly advise early viewing to take in the full potential of the trade. With the current owners offering to mentor the new buyer(s) this really is a ready to run bridal store for anyone looking to take on a new business venture with or without previous bridal industry experience. The boutique has an exceptional following and an enviable reputation in this fantastic location. The store was redecorated in 2016 and all equipment is included in the sale.

Location
Wedding Quarter is located in Birmingham, West Midlands.

The business is situated in the jewellery quarter of the city centre of Birmingham. This is a prime trading location that allows the store to benefit from heavy footfall and passing trade. There is ample complimentary retail outlets close by. This includes cafes, shoe shops, clothing stores, pubs, restaurants, jewellers and much more. Directly outside the property is meter parking.

Birmingham is a major city and has the largest city population outside of London. Birmingham is home to cutting edge museums and galleries, theatres and great shopping facilities. This has contributed to Birmingham's appeal as a weekend break destination.

The centre of Birmingham allows the business to benefit from excellent road links and generous public transport. The closest train station, Metro tram link and main bus routes are just a minutes’ walk away. Trains run direct to London from this station.

Premises
Wedding Quarter has a beautiful shop front with windows used for eye catching displays. The shop is well-signed, this is clearly visible to passing trade.

On entry is the large open plan retail space. To the right is a service counter and around the perimeter there is shelving and rails for displaying accessories and dresses. In the centre is a sofa, this is used as a seating area for awaiting customers. To the back of the room is a changing area with mirrors. There is good spotlight lighting throughout the shop.

To the rear of the property is a staff kitchen, this comes fitted with units, a sink and drainer. There is also a toilet facility with wash hand basin. This is used by staff and customers.

Equipment included in the sale includes: -
Service counter
Hanging rails
Shelving
Mirrors
Till
Sofa

Tenure
We are advised the business is being sold as a Leasehold opportunity.
Original lease length: 3 years
Remaining lease length: Currently in negotiation with landlord
Rent: £9,500 per annum.

Hours
The new owner should consider extending business trading hours.

Staff
The business is a family run owner business with 3 x self-employed seamstresses.

Financial Profile
The business generates a turnover in the region of £72,000 per annum, with a gross profit of 61%.

The business has so much momentum that it started in 2014 and despite high overheads in year 1 and aggressive expansion and reinvestment in year 2 the business still has experienced financial growth on a monthly basis since day 1.

The business has a great reputation in their industry and has huge potential for future success and growth in an extremely lucrative industry.'

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Nearby transport

  • Jewellery Quarter (0.2 miles)
  • Birmingham Snow Hill (0.5 miles)
  • Birmingham New Street (0.8 miles)
  • Birmingham International Airport (7.2 miles)
  • Coventry Airport (19.9 miles)
  • East Midlands Airport (34.0 miles)
  • Sharpness Old Docks (58.1 miles)
  • Lydney Harbour (59.5 miles)
  • Bristol Docks Ferry Landing (76.0 miles)

Nearby schools

View all schools in Birmingham
  • St George's Church of England Academy, Newtown (0.3 miles)
  • Brookfields Primary School (0.4 miles)
  • St Chad's Catholic Primary School (0.5 miles)
  • St Georges Academy (0.2 miles)
  • Birmingham Ormiston Academy (0.9 miles)
  • CUL Academy Trust (1.2 miles)
  • City Academy (0.3 miles)
  • Perry Beeches IV - The Free School (0.3 miles)
  • Nishkam High School (0.5 miles)
Note: Distances are straight line measurements

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For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial 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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