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37-39 Church Street
Malvern
Worcestershire
WR14 2AA
Offers in excess of: £12,000 Assignment Of Lease
On the instructions of Mr Philip Smith who is retiring.
FOR SALE AS A LONG ESTABLISHED GOING CONCERN
VALUABLE LEASE TO BE ASSIGNED
Description:
BACKGROUND TO THE BUSNESS
Sherwoods was established in 1945 and started trading in Malvern in 1955 selling fabrics from Church Street and since March 1965 continuously under the present proprietor, Philip Smith's, careful direction. Substantial amounts of trust have been built with local customers. Mr Smith has indicated willingness to remain as a consultant for a further period of 12 months beyond transfer, on terms to be agreed.
The supply of curtains, soft furnishings and provisions of a dressmaking service (made up by outsourced experts) continues as a key element in this successful family enterprise. There is ample opportunity to expand the merchandise range and further build the business.
Considerable and serious emphasis continues to be placed on visits to the company's web-site: www.sherwoodsfabrics.co.uk with a dedicated member of staff handling telephone enquiries, emails, fabric sample requests, web enquiries and web updatings.
DESCRIPTION, SHOP PREMISES, RESIDENTIAL ACCOMMODATION & SERVICE CONNECTIONS : OUTGOINGS
Annual turnover and other figures will be made available through the offices of the owner's accountants. The estimated stock value was £45,000 at 30 September 2006.
Located in the prime retail pitch of Great Malvern, close to the major national traders Boots the Chemist, Woolworths and others, footfall is further secured on extensive shoppers-carparking to the rear and the presence of Waitrose and Somerfields foodmarkets.
Sherwoods Fabrics' shop at ground floor level extends to 545 sq ft inclusive accounts office. Frontage to Church Street is 14'9".
At mezzanine level, fully interconnecting with the main sales area, are the Dress Fabric Room, further Office-cum-Store, Kitchenette and Staff Cloakroom.
All mains services are connected. NB: interested parties are advised to make their own enquiries about supplies to the shop and three flats.
Rateable Value (per Malvern Hills District Council) is advised as £9,700
and annual rates payable £4,132.20 to 31 March 2007.
LEASE, OUTLINE OF COVENANTS : RENTS PAYABLE
& RECEIVABLE
The subsisting lease for a term of 24 years ends at 26 September 2008 and is capable of renewal. Tenant's obligations include end of term repairs and redecorations, payment of £15,000 pax base rent and additionally insurance rent.
The demise includes three separately accessed self-contained flats. Two are let under Assured Shorthold Tenancies (AST) and the owner's living accommodation is capable of being let at £350.00 pcm, or thereabouts.
SALE
A premium in excess of £12,000 is sought for the on-going goodwill and leasehold interest. Stock is excluded and subject to separate negotiation.
DIRECTIONS & INSPECTIONS
The shop's address is self evident. Viewing and meetings with Mr Smith will be arranged with either the Ledbury office T 01531 634648 or Malvern Office T 01684 892809.
Web-site: www.sherwoodsfabrics.co.uk
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