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Long established Cycle retailer located in sought after Devon Seaside town

Paignton, Devon
Leasehold Price:
£120,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
229015
Reference
1296 / Rightbiz

Details

  • Long established Cycle retailer
  • Stocks a wide range of Bikes, Accessories and Clothing
  • Well-presented throughout
  • Located in sought after Devon Seaside town
  • Healthy turnover and profits with scope to improve
  • Excellent local reputation for first class service
  • Well-equipped workshop
  • Desirable town centre trading position
  • Fantastic change of lifestyle opportunity
  • Good mix of complementary businesses nearby

Falcon Commercial is delighted to offer for sale this extremely well-presented Cycle Retailer which occupies a prime trading position on one of the main shopping streets in this popular Devon Seaside town. Colin Lewis cycles has been serving the local area since the 1970’s and has been under the proud ownership of our clients since 2006. It is now reluctantly being placed on the market as the owner wishes to develop other business interests.

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 Bikes, Cycle accessories and clothing as well as offering servicing and repairs. This is largely due to the professional way the business is run with excellent presentation along with knowledgeable and friendly staff.

Colin Lewis enjoys an all year-round trade. Sales are in the region of £250,000 with excellent gross profit margins.

The Premises

Substantial leasehold building, benefiting from being in a highly visible position on one of the main roads that runs through Paignton which is in Devon.

The premises are fitted and presented to create highly functional internal business accommodation.

The premises briefly comprise:

Ground Floor

  • Main showroom
  • Workshop
  • Toilet

Lower Ground Floor

  • Large basement currently used for storage

First Floor

  • 2nd floor show room
  • Office
  • Changing room

External

  • Customer parking to rear

Business Details

Opening Hours

  • 9.00am – 5.30pm Monday, Tuesday,  & Friday
  • 9.00am – 1.00pm Wednesday
  • 9.00am – 7.00pm 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: £35,000

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. Its currently held on a rolling rental agreement where the rent payable is £1250 per calendar month. We are advised that the landlord would grant a new lease to suitable applicants the details of which are to be agreed.

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. Thank you

Seller Details
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Listing Details
Leasehold Price: £120,000
Tenure: Leasehold
Location: Paignton, Devon
Sector: Bicycle Businesses, Sports Shops
Financials
Annual Turnover: £250,000
Key Features
  • Attractive Business
  • Offers Invited
  • Accounts Available
Listing Statistics
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