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Retail unit for sale in Penzance

Red Rose Textiles, 7 Alverton Street, Penzance, TR18 2QW
For sale
£180,000

COMMON USE CLASS: A1 Shops

smart-commercial-property-ltd
This property is marketed by:
Smart Commercial Property Ltd

Key Features

  • £180,000 Vacant or Business For Sale by Separate Negotiation
  • Excellent position opposite McColls, near 2 car parks, near Boots, NatWest bank, Council offices and the Job Centre
  • Three storey shop in high street location
  • Planning permission granted for a one bedroom two storey cottage with single storey shop extension to the rear
  • Textile business supplying direct to the public
  • Turnover at year end 30 April 2019 £60,522
  • SAV plus an inventory will be provided

Location

Penzance attracts a range of UK and international tourists all year round. Penzance is widely known as one of the most premier towns of Cornwall located on the south coast with a resident population of some 20,000 plus. This is boosted during the summer months with visitors to the area. An electronic footfall counter has recently counted a pedestrian flow of circa 3 million passing through Penzance. In addition the town has good road, rail and air links and is the social and administrative centre for Penwith. The A30 trunk road, which is the major thoroughfare in and out of the County, is close by and Newquay Airport is within 32 miles distance. London can be easily reached from the airport or via the A30/M5 links out of Cornwall. Penzance also has a main line railway station offering a daily service to Paddington, London.

Description

A 3 storey terraced high street shop with cellar located on a busy main street. The property was built in the 1800s and improvements include UPVC windows. There are stairs to rear of the shop to the cellar area consisting of 3 store rooms with stairs to first floor, which was understood to be a flat with separate entrance.

Rateable Value

The rateable value is £6,500 effective 1 April 2017 but further information can be obtained from the website: https://www.gov.uk/correct-your-business-rates.

The Business

The business is owned by a husband and wife team who founded the business 24 years ago. As well as having a good stock of curtain and upholstery fabric, there is also an established curtain and soft furnishing make-up service supplying the general public and a number of hotels and holiday lets in the area. On the first floor is a selection of net curtains voiles and craft fabric, as well as a workroom. Tracks, poles, furnishing trims and other ancillary products are also available.

Turnover

Turnover for year ending 30 April 2019 was £60,522. The full accounts will only be provided on request after an inspection.

Staff

Currently there is one part-time member of staff with occasional off site workers. Stock SAV varies between £35,000 and £55,000. Trading Hours Friday- Saturday 9:00 to 17:00 Sunday - Thursday Closed Tenure We are advised that the property is Freehold.

EPC

The property has a current EPC rating of G184

Legal Costs

The purchaser is responsible for the legal and professional fees if the transaction is aborted.

Services

We understand that mains water, drainage and electricity are available. However we have not tested these connections and advise that all interested parties make their own enquiries of the necessary statutory authority. 


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