High Street, Sandown, PO36 8AQ

High Street Property for sale

£29,950


A great opportunity to purchase a trading gift shop in Sandown Town Centre. For sale due to retirement.

LOCATION
Situated to the lower end of Sandown High Street this unit is located amongst various independent retailers and multi-nationals including Bet Fred.



Sandown is situated to the East of the Island has always proved a very popular tourist destination.

The construction of the new Premier Inn on the Esplanade will only serve to boost the town further by way of a continual tourist trade. Other permissions recently granted will also enhance the area in the next 12 months.

DESCRIPTION
Sandown Bay Gifts is a very well traded gift shop mostly serving the tourist industry. The gift shop currently trades 11 months of the year and would provide a great owner run business.



This double fronted unit offers two large display windows to the front and a retail space of approximately 70 sq m (753 sq ft) up to racking, plus a store/stock room of approximately 23 sq m (247 sq ft) with kitchenette and WC.

There is a rear access fire escape only from the store and further storage space under the bay windows to the front.

Also included in the sale is a security alarm, CCTV with monitor and hard drive and the property also benefits from an integrated fire alarm system with emergency lighting.



The walls of the property are racked and there are further extra stands and racking available to enable changes to display space as and when required.

SERVICES
The property has mains electric, water and drainage.
TERMS
Our client is asking £29,950 for the business to include fixtures, fittings and goodwill plus stock at valuation.



The landlord of the property has advised they will grant a new, renewable, 6 year lease, subject to references at a rental of £7,500pa. There is an annual service charge payable which of £75 plus VAT and a 40% contribution towards the buildings insurance and a rent review at the end of year 3.

The purchaser will be asked to contribute towards the vendors reasonable legal fees, to be capped at £1500 + VAT.

OUTGOINGS
The VOA shows a rateable value of £8,200. Using the current UBR the business rates payable will be circa £4,000, this does not include any applicable small business rates relief. The current tenants pay £0 business rates as they qualify for small business rates relief.
VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727.

Agents Notes Our description of any appliances and/or services (including any central heating system) should not be taken as any guarantee that these are in working order. None of the statements contained in these particulars as to this property are to be relied upon as statements or representation of fact nor is it intended to form any part of any contract.

Especially if travelling long distances, if there is any point of particular importance, please contact the office who will be pleased to clarify the information.

Floor plans are a schematic and are for guidance only. All measurements are approximate. Please note that if our photographs depict the property in a furnished condition, on completion all furnishings will be removed unless specifically mentioned elsewhere as being included in the sale.

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Here to Help

Mark Rhodes

Director

Lisa Mercer

Manager

Rhys King

Surveyor

Janet Morter

Negotiator

Laurie Calloway

Property Consultant

Edwina Grist

Administration

Tel: 01983 527727 Email Us: commercial@hrdiw.co.uk