Stunning Ladies Boutique in Lincoln Lincolnshire with 20 Year Reputation for Sale
Lincoln, Lincolnshire
- Status
FOR SALE
- Date Submitted:
06/06/19
- Advert ID
244085
- Reference
B05291 / Rightbiz
- Call Agent:
- Leasehold: £35,000
- Turnover: £155,000 (£2,981 Per week)
- Net Profit: Not Applicable
Business Details
Beautifully Presented Ladies Boutique
BusinessPlease quote reference B05291
CoGoGo are pleased to welcome to the market Cahoots (Ladies).
This stylish boutique has been operated by the current vendor for over 20 years in which time it has built up an enviable reputation for quality and service within the City for style, elegance and expert advice on all aspects of women’s clothing and which due to retirement this rare and exciting opportunity has now become available.
The business currently sells a range of designer women’s clothing which includes evening wear, formal wear, dresses, jeans, jackets, shoes & accessories plus a fabulous range of underwear and swimwear. The business has long-established supplier arrangements with the likes of Maria Bellentani, Lauren Vidal, Hanro, Marie Jo, Maryan Melhorn, Gant, Sbelt-Jeans and JJ Garella to name just a few.
This is truly a once in a lifetime opportunity to take a respected and long-established business to the next level by developing a strong on-line presence creating an additional selling platform as well as introducing new product lines to further expand the existing customer base.
This is an excellent business opportunity which will have a wide appeal and would suit either an individual or partnership looking for a fresh challenge with a keen eye for style or for an already established operator looking for stylish premises or an additional site with the opportunity to travel to shows and suppliers creating their own style.
The current vendor is also happy to work with the new owner over a transition period to make the necessary introductions to suppliers and existing customers to enable the business to continue to flourish and to also offer sound advice when required.
Location
Situated at the top of Steep Hill in Upper Lincoln, the business location is just a short stroll from Lincoln Castle and Lincoln Cathedral. In Cathedral quater it sits among the other thriving businesses in this picturesque and highly sought-after trading location. The site is easily accessible on foot and by all modes of transport and is in arguably the best location in Upper Lincoln. The site benefits from plenty of passing footfall with ample pay and display parking close by.
Premises
Period property located on Steep Hill in Lincoln City; the site is spread over four levels comprising:
Lower ground floor: private changing rooms.
Ground floor: main trading area with service counter, all display racking & carousels,
First floor: additional storage space with clothing display units, Kitchen & WC,
Second floor: additional changing rooms, comfy seating, mirrors, all display units and storage facilities,
Full CCTV system throughout the site.
Tenure
We are advised the business is being sold as a Leasehold opportunity with the current rent passing at £22,500 per annum with 4 years remaining on the current 10 Year lease
Hours
9.30am to 5.00 pm Monday to Saturday
Closed Sunday.
Staff
The business is run and managed by the vendor with 1 x part time staff assisting.
Financial Profile
We are advised the business is turning over in the region of £155,000 per annum working on a very attractive adjusted nett profit.
The business rates are currently £5,700 per annum.
Please quote reference B05291
Contact Agent
Listing Statistics
Contact the seller for more details, or book a viewing
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Stay Safe
Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.
Stay Safe
The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.
Stay Safe
Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.
Stay Safe
Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.
Stay Safe
Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.
Stay Safe
Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.
Stay Safe
Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.
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