About this property
Opportunity to purchase a trading gift shop business in Sandown. Retirement Sale.
Situated in the popular seaside town of Sandown, located to the East of the Island and boasting some of the sandiest beaches on the Island.
The town of Sandown offers various shopping facilities including Sainsbury’s and Co-op and various boutique stores and eateries. With some recent and current inward investment and developments Sandown is undergoing a regeneration of sorts and provides a lovely location for tourists and locals alike.
Sandown benefits from having good transport links including bus routes and the Island Line train.
Offered for sale due to retirement is this gift shop business which has been traded for the most recent years to suit the current owners.
Situated on the corner of the High Street and St. Johns Road the property offers approximately 60 sq m (645 sq ft) of retail space with double doors to the front and large display windows to the front and side. To the rear is a staff room/office, store with racking and safe and a separate WC. There is also a rear access door to St. Johns Road.
Included in the sale is the racking and shelving, including extra shelving if required, CCTV and till. The premises also has an alarm but this will require servicing. Suppliers information can also be passed over once a sale has been instructed.
An inventory can be provided upon request.
The business sale includes the benefit of the remainder of a 21 year lease from 2007, rent is payable quarterly at £9,500 per annum. A service charge of circa £500 per annum is also payable.
The property has electric, water and drainage.
Our client is asking £12,000 for the benefit of the business, fixtures, fittings and goodwill plus stock at valuation. This also includes an assignment of the current 21 year lease from 2007.
The VOA shows a rateable value of £6,800. The rates payable using the standard multiplier would be circa £3,400. The property currently benefits from small business rates relief and is zero rated. For further information on this please contact the VOA direct.
All viewings to be arranged via HRD Commercial. Please contact 01983 527727.