Unique opportunity to purchase the lease of a popular Gift and Convenience Shop in Torquay, occupying a prime hotel road trading position, on route to the seafront. Roughly trading eight months of the year although this could easily be extended as this is just the owners lifestyle choice. This is an exceptional life style business generating in excess of 40% gp.
Turnover is just under the vat threshold, full details after confirmed interest.
The shop trades in gifts, souvenirs, jewelry, toys, and various holiday type ‘spinners’. There is a separate section to the rear of this long shop which is used to sell a variety of beach goods and swimwear. It also has a large selection of fudges, toffees, rock and other gift confectionery. As well as this there is an ice cream section, selling over 20 flavours of Kelly’s ice cream, and has become the ‘go to’ place for locals and tourists in Torquay.
The convenience section sells a variety of soft drinks, sandwiches, sweets, chocolate, and holiday essentials such as toothbrushes!
Easily run by one or two people in high season or one person in low season. The current owners have successfully traded for the past two years and are very reluctantly selling due to relocating for personal reasons.
The business is being sold as a Leasehold.
Original lease length: 12 years.
Remaining lease length: 9 years as of 2020
Review period: three years.
Rent: £8200 per annum.
NO Business Rates.
Receives 100% business rate relief.
Stock at valuation (circa £20,000), incoming tenant to pay landlords reasonably incurred legal costs