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Extremely well presented Somerset Menswear Retailer

Ilminster, Somerset
Leasehold Price:
£79,999
Status
FOR SALE
Advert ID
228707
Reference
1293 / Rightbiz

Falcon Commercial is delighted to offer for sale this extremely well-presented Menswear Retailer which occupies a prime trading position on one of the main shopping streets in this popular Somerset town. Harrimans has been serving the local area since 1910, being established at this site for over 50 years, and has been under the proud ownership of our clients since 1997. It is now reluctantly being placed on the market as the owner wishes to retire.

During our client’s stewardship the business has built up an excellent reputation for its welcoming atmosphere, friendly service and fantastic selection.

This well presented turnkey retail business enjoys a central town centre trading position on a busy shopping street with good pedestrian flow.  Shoppers are attracted to the area by the range of independent and multiple owned businesses on offer. This rarely available opportunity has established itself as the area’s premier retailer of a wide variety of men’s clothing as well as offering Dinner suit and wedding hire along with alterations. This is largely due to the professional way the business is run with excellent presentation along with knowledgeable and friendly staff.

Harrimans enjoys an all year-round trade. Sales are in the region of £135,000 with excellent gross profit margins.

The Premises

Substantial leasehold building, benefiting from being in a highly visible position on the main road that runs through Ilminster.

The premises are fitted and presented to create highly functional internal business accommodation with a good size 3 bedroom flat above which is let out to provide additional income.

The premises briefly comprise:

Retail Space

Ground Floor

  • Main sales area
  • Second sales area
  • Office/ Store with customer changing room
  • Toilet

First Floor

  • 2 store rooms

Flat

First Floor

  • Kitchen
  • Double bedroom
  • Lounge

Second Floor

  • Bathroom
  • Double bedroom
  • Double bedroom

External

  • Rear garden

Business Details

Opening Hours

  • 9.00am – 5.30pm Monday, Tuesday, Wednesday & Friday
  • 9.00am – 2.00pm Thursday
  • 9.00am – 5.00pm Saturday
  • Closed Sunday and Bank Holidays

Business Rates

Business rates payable: TBC

Interested parties should make their own enquiries of the local billing authority to ascertain the exact rates payable or enquiries can be made online at the VOA website www.voa.gov.uk

Stock

The business stock value is: £60,000

Staff

The business is run by the proprietor with help from a dedicated team of part time staff who work on an agreed rota basis.

EPC

Commercial Energy Performance rating: TBC

Tenure

  • Leasehold.
  • The business is offered for sale on a leasehold basis. The current lease is for a period of 15 years and has 3 years remaining. The annual rent payable is £9,000 per year.

Legal Costs

Each party to bear their own legal costs incurred in the transaction.

Accounts

Accounts will be provided to genuine purchasers after a formal viewing

Viewing

Strictly by appointment with the vendor's agents, Falcon Commercial, Second Floor Offices, 114/116 High Street Honiton EX14 1JP on 01404 758081

Agents Note

Please remember that selling a business can be a sensitive issue and staff or suppliers may not be aware of a sale at this point. Do not attempt to contact the business directly. Thankyou

Listing Details
Leasehold Price: £79,999
Tenure: Leasehold
Location: Ilminster, Somerset
Sector: Retail, Menswear Businesses, Clothing Businesses
Financials
Annual Turnover: £135,000
Key Features
  • High Turnover
  • Accounts Available
Contact Agent
Telephone: Upgrade to view
Agent Name: Upgrade to view
Advert Reference: 1293 / Rightbiz

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