annually

£11,000

Park Street, Minehead, Somerset, TA24

Other business to rent

Other Business

Key Features

  • Busy town centre location
  • Shop with workshop room, staff cloakroom, kitchen and store room
  • Lease for sale
  • Takings circa £250,000 per annum
  • High profits with further growth potential
  • Plus stock at valuation
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Tony Foster

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Property Description

LOCATION
In a busy town centre trading position close to the junction of Friday Street, The Avenue and Park Street in Minehead, this shop is ideally place for the convenience of customers. Clients can park in the time restricted spaces outside the shop or in Park Avenue nearby. All amenities are on hand including cafes, pubs and retail traders. Minehead is often referred to as the 'Gateway to Exmoor National Park', is a popular seaside resort and attracts tourists throughout the year. Many people come to retire to this town hence the high demand for a business of this kind.

THE PREMISES
A mid-terraced commercial property with the ground floor shop offering around 890 sq ft of retail space which is ideal for displaying Mobility Scooters, Rise and Recline Beds and Chairs Wheelchairs, Walking Aids, Bathing Aids, Footwear and Mobility Aids. To the rear is a small workshop room, staff kitchen, cloakroom and to the first floor is a small stock room.

TENURE
The lease was originally granted for 8 years at a current rent of £11,000 per annum and is likely to be renewed. Ingoing premium of £55,000. For Landlord's approval an incoming tenant will need to supply trade/professional references, proof of funds by 3 months' bank statements and proof of ID.

THE BUSINESS
Established in 1999 and owned and run by the current owners since 2011 the business has a great reputation locally and a loyal customer base. Selling a wide range of mobility aids and offering a servicing and repair facility to the local area on all mobility products. The shop opens 5 days a week Monday to Friday 9.30 am to 4.00 pm. Run by two owners and one part time member of staff, the turnover is around £250,000 per annum with an adjusted net profit of about £60,000 per annum. Stock is to be purchased at an additional sum. This is a good business with huge growth potential especially as the population ages and Minehead attracts more retirees.

Key Information

SERVICES:

Mains electricity, water and drainage.

VIEWING:

Strictly by appointment through the selling agents.

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