Jonathan Ward | Business Broker Tel: 0845 299 0158
JEWELLERY & GIFT SHOP NANTWICH, CHESHIRE
PRICE: £19,950
LEASEHOLD ~ LOCK UP
REF: JW662D
LOCATION The business is located in a busy mixed retail and commercial area in the centre of Nantwich within a pedestrianised street. The business is in close proximity to St Mary’s Church. Nantwich is a market town in Cheshire. The town contains over a hundred listed buildings, including three grade I and eight grade II*, with the largest collection of historic buildings outside Chester in Cheshire. Nantwich's listed buildings include many timber-framed buildings dating from the 16th and 17th centuries. In addition, there are many fine Georgian town houses and some examples of Victorian corporate architecture. The listed buildings are clustered particularly in the centre of the town on Barker Street, Beam Street, Churchyard Side, High Street and Hospital Street, and extending across the River Weaver on Welsh Row. Unusual listed structures include an aqueduct carrying the Shropshire Union Canal, a mounting block on Welsh Row, and three sets of cast-iron bollards by the parish church. Nantwich Market (Indoor and Outdoor) takes place weekly on a Tuesday, Thursday and Saturday with Nantwich Collectables Sale also on a Tuesday. In addition on the last Saturday of each month is the Farmers Market with local produce, sold by producers themselves. Nantwich is well located for transport links. It is approximately four miles south-west of Crewe and 20 miles south-east of Chester. Nantwich railway station is on the line from Crewe to Whitchurch, Shrewsbury. It is a major road junction, being the meeting point of the A51, A500, A529, A530 and A534 roads JW662D contd…….
2 JW662D contd…….
THE BUSINESS Draft accounts to June 30th 2009 show an annual sales turnover of £103,115 at a gross profit of 49.5%. According to our estimates of the likely overheads, this should return a basic Operating Net Profit of approximately £19,900 for a working owner. This is the profit available after all the basic expenses have been paid, that are common to all operators. It does not, however, take account of personal items, such as bank charges, personal loan interest, owner's drawings, depreciation, etc. Serious potential buyers should make sure to obtain copies of accounts, following a formal viewing appointment with the owner.
DESCRIPTION OF SERVICE OFFERED In essence, this business offers gifts and jewellery, that have been sourced ethically, from around the world. Typically these include: Africa Mexico England Europe
∗ ∗ ∗ ∗
∗ ∗ ∗ ∗
America India Asia Eastern Europe
The hand made jewellery comes in a range of materials e.g. copper ~ silver ~ semi-precious stone ~ paper ~ bone ~ glass ~ PVC etcE and range in price from a few pounds to hundreds of pounds per item. On display are: ∗ ∗ ∗ ∗ ∗
Necklaces & pendants Rings & watches Broaches & ear-rings Pins & bracelets Beads & bangles
Other gifts on display include: ∗ ∗ ∗ ∗ ∗
Lamps & Lighting features Pictures & Tapestries Books & DVDs Ornaments ~ large & small Scarves & fabric items
This business is one which encourages customers to come in and browse, be fascinated by the unusual array of goods. The staff are most helpful and knowledgeable about the goods. If you require something specific, discuss with the staff and it may well be sourced for you.
JW662D contd…….
3 JW662D contd…….
THE PREMISES The business occupies the ground floor of a brick built property with pitched tiled roof. The first floor accommodates offices which have independent access. The business premises are protected by a security alarm system and CCTV. The shop frontage of approx 4.11m (13’6”) is fully glazed and has a fixed fascia board running the full width clearly displaying the business name. The glazed door to one side gives access to: SALES AREA Approx length of 11.28m (37’) which over the distance increases in width from 4.11m (13’6”) to 5.49m (18’) at the rear. The whole area is superbly decorated, has laminate flooring and an abundance of lighting including ceiling lights, spots and mood lighting from the display lamps and various lighting features. The window area has free standing, glass shelving which is successfully used for the display of jewellery. Already mentioned, the business encourages browsing and just inside the door is an easy chair, a newspaper rack and a notice which reads:“ Fellas, your lady is busy, so take a seat & read the paper” Should there be a queue, two further chairs and a table are provided, in fine weather, outside on the pavement.
Around the walls of the SALES AREA are various free standing display cabinets and units ranging from enclosed, glass cabinets to open fronted wooden shelving. In the centre of the room are further displays on table tops. There is a serving counter on which are additional displays and the all important till. Beneath the counter is storage and a number of filing cabinets.
The walls are tastefully adorned with various mirrors, pictures and prints (all available for sale) and subtle mood music is played also from tracks available for sale. At the rear of the Sales Area a door leads to STAFF ROOM approx 3.66m x 2.74m (12’ x 9’) which has a quarry tiled floor. Located here are table & chairs, kettle, microwave and fridge. Also the control panel for the alarm system and the monitor for the 4 CCTV’s are in this area. Shelving is used for storage. Off this room is STORAGE AREA approx 1.82m x 0.91m (6’ x 3’) with storage and shelving. JW662D contd…….
4 JW662D contd…….
Another door from the staff room leads to WASHROOM & TOILET approx 1.82m x 1.68m (6’ x 5’6”) with usual facilities. A final door from the staff room leads to the secure rear yard approx 5.49m x 1.82m (18’ x 6’) which could be used for storage.
HOURS
Monday to Saturday
STAFF
Currently owner full time, with 3 part time assistants. business could easily be run by a working couple.
TENURE
We have not inspected the lease, but the vendor informs us that 2 years remain of a 5 year lease. We understand this will be extended for approved tenants. The vendor informs us that the current rent is £15,000 p.a.
RATES
The vendor informs us that current rates payable are £6,239 p.a. including Water Rates
LEGAL FEES
Vendors and purchasers to meet their own contractual costs; the purchaser to meet the landlord’s costs in establishing or transferring the lease.
FINANCE
This business should be able to support loan finance, subject to status. For further information, please contact Lakey & Co.
PRICE
£19,950. LEASEHOLD for the Goodwill, Fixtures, Fittings, Equipment, and the Leasehold interest. (F,F & E are conservatively valued at c. £4,000)
STOCK
To be sold separately at valuation - c. £30,000 approx.
VIEWING
Strictly by appointment through Lakey & Co. as staff, suppliers and customers are not aware of the sale, so confidentiality must be maintained.
9.00 am to 5.00 pm. The employed
AGENT'S COMMENTS The location of this business is enviable, being in the pedestrianised town centre of the picturesque market town of Nantwich and within the heart of a retail area which attracts many tourists and locals alike. The range of product is such that all budgets can be accommodated, be it for that personal something to enhance a new outfit, or a gift for that special person, or even a little something out of the ordinary to mark an occasion. Businesses which can boast location, loyal customer base and potential growth through website and mail order sales are rarely introduced to the market. The only reason this is being offered is so that the owner can concentrate more on other business interests. I would certainly recommend an early viewing of this business, why not phone and arrange it!
JW662D contd…….
5 JW662D contd‌‌.
DISCLAIMER Lakey & Co draw the attention of prospective Purchasers and those acting on behalf of prospective Purchasers to the following: 1. 2. 3. 4. 5. 6.
7. 8.
These Particulars do not constitute any part of an offer or a contract. All statements contained in these Particulars are made without responsibility on the part of Lakey & Co or the Seller. None of the statements contained in these Particulars is to be relied on as a statement or representation of fact. Any intending Purchasers must satisfy themselves, by inspection, or otherwise, as to the correctness of each of the statements contained in these Particulars. Seller does not make or give, and neither Lakey & Co, nor any person in our employment, has any authority to make, or give any representation or warranty whatever, in relation to this transaction. While these Particulars are provided in good faith, we are not surveyors or accountants, and we have not tested any fixtures, fittings, equipment, services or other facilities, and cannot say if they are in working order or suitable. You should rely on your own inspection and that of your surveyor. Similarly, you should rely on you own investigation of the accounts, and that of your accountant. Property dimensions are given for guidance only, and you must satisfy yourself as to the accuracy of the measurements. The ownership or use of fixtures, fittings and equipment may be subject to permission from or payment to other parties (e.g. landlords, hire companies, etc.).
Roger Brain July 2010
Issue: 3 Price Reduction