29B Queen Street (Retail Unit)

DESCRIPTION

29B Queen Street comprises the ground floor trading unit of an attractive multi-storey property, currently operating as a newsagent.

Situated in a central position on Lossiemouth’s Queen Street, the property benefits from strong footfall and a prominent retail location.

The accommodation is predominantly open plan at street level and is well-presented throughout, offering a flexible and efficient sales layout. The retail area extends to approximately 64m², providing a practical and adaptable space suitable for a variety of retail uses.

The property and business are offered for sale as a going concern; however, the unit may also be available with vacant possession, subject to agreement.

REASON FOR SALE

The vendor has owned the property and run the business for a little over 20 years. It is his desire to retire that brings this excellent opportunity to the market.

TRADE

The business has a solid year-round trade with peak trading in the holiday season when it benefits from the influx of tourists to the area. A high level of passing trade further enhances turnover. During the winter months, the business continues to enjoy a solid level of income derived from the support of recurring local trade. The business generates a consistent profit level but could be operated to a higher level by extending opening hours and considering some inward re-organisation to maximise returns. The shop is currently run by the owner with one part-time employee. The shop operates from 07:00 until 12:00 Monday to Saturday and 08:00 until 10:30 on Sunday.

Merchandise includes drinks, sweets, newspapers, stationery and magazines. The present trading configuration makes it an easy-to-operate business and provides scope to adjust the range of goods and services should new owners wish to do so. Internally, all areas are easily accessible with all sales areas being intelligently laid out utilising a modern range of shelving units and display stands. The sales counter is situated to the rear of the unit affording excellent visual control of the shop. The business benefits from a fully operational and maintained EPOS system. The present owner operates a morning home delivery newspaper service of which there are 6. Local school pupils are used to do the deliveries. The owner also has a number of lucrative contracts to delivery papers locally.

LOCATION

Queen Street is situated in the centre of Lossiemouth and within a few minutes’ walk of the harbour and the East Beach. Lossiemouth sits on the North East Coast of Scotland on the Moray Firth and is renowned for its mild climate due to the Gulf Stream air. The town is known as ‘The Jewel of the Moray Firth’ and has a population of around 7,000 which expands greatly during the warmer months with the influx of holiday makers.
The town is only 5.5 miles from Elgin with a population of around 24,000. Lossiemouth benefits from 2 excellent golden sand beaches and beautiful surrounding countryside attracting both locals and visitors during the fine weather. The town has a spectacular marina and an excellent array of tourist facilities. Lossiemouth Golf Course is a Championship links course. RAF Lossiemouth is situated adjacent to the town and generates significant income to the local economy. Social amenities and welfare provision within the town are of a high level and full details can be found on www.lossiemouth.org.


THE PROPERTY

This retail unit forms part of an attractive stone building with a slate roof and is centrally located on Queen Street, one of Lossiemouth’s main retail streets.

The inviting shop frontage is fully glazed, featuring a large picture window that provides excellent natural light and a clear line of sight from the pavement into the shop interior.

The main sales area is rectangular in shape, with a counter positioned to the rear. Behind this lies the store and welfare areas. The welfare space benefits from natural light and overlooks the gardens of neighbouring properties. It includes a WC, tea preparation area, and additional storage.

Further accommodation to the rear comprises a WC, store, and office. The subjects are effectively split into two sections:

Main retail area extending to approximately 38m²
Back-of-house and counter areas extending to approximately 26m²

The property is arranged over the ground floor only and benefits from level access directly from the street. There is also an under-stair cupboard providing additional shelving and storage.

It should be noted that there is a provision within the title deeds for maintenance access. All owners within the building employ a factor to coordinate external works; recent maintenance has included repairs to the east-side guttering.

FINANCE AND LEGAL SERVICES

ASG Commercial Ltd is in touch with several lenders who provide specialist finance. We have access to a large team of legal experts who can act in all legal matters arising to include conveyancing and license transfers.

SERVICES

The unit benefits from mains electricity, water and drainage. The unit is equipped with a security system and CCTV.

ACCOUNTS

Full accounting information will be made available to interested parties subsequent to viewing.

TITLE NUMBER

The property has a title number of MOR731.

PRICE

A fixed price of £99,000 is invited for the freehold interest complete with goodwill and trade contents (according to inventory). Stock at valuation.

OFFERS

All offers should be submitted in writing to ASG Commercial Ltd with whom purchasers should register their interest if they wish to be advised of a closing date, should one be set.