Gammon Walk, Barnstaple, Devon, EX31
Offers in Region of
£37,500
Business rates & charges may apply
- SIZE
Ask agent
- SECTOR
Shop for sale
Key features
- Established trade of over 30 years
- Within covered retail parade off town's High Street
- Operated 6 days per week by 3 family members working 3-4 days each
- Attractive shop and fit out ideal for 'lunchtime' browsing
- Many exclusive and well-known brands including Jellycat, Lily-flame candles, Lanka Kade wooden toys
- Meaningful turnover and profitable trade
- Ideal first business / retail venture
Description
LOCATION
With over 40,000 inhabitants including nearby villages, Barnstaple is a thriving town near to beautiful beaches and countryside, and the centre of North Devon in commerce, culture, education and service provision. It has a wide variety of businesses attracting tourists and permanent residents year-round, including a vibrant and diverse collection of bars and restaurants for evening footfall. Barnstaple is easily reached via the A361 which leads to the M5 at Junction 27, has a station with hourly trains to Exeter at peak times, and Exeter airport is an hour away. The town is rapidly expanding with several new housing and commercial developments currently underway, and more than 5,000 new houses and further economic development planned for the near future. The notable towns of Bideford (9 miles), Woolacombe (14 miles), Ilfracombe (12 miles), South Molton (12 miles) and Torrington (14 miles) are also nearby.
THE SITUATION
The unit is situated within the pedestrianised partially undercover shopping area known as Gammon Walk. The subject unit is situated just off the main High Street and located within a mixed retail area. Operators within Gammon Walk include Spec Savers, White Stuff with national retailers close by, on the High Street, Primark, Vision Express and Clarks Shoes.
THE PROPERTY AND CONSTRUCTION
Being a single fronted lock up shop premises within the Gammon Walk retail development. The ground floor shop unit provides a gross internal area of approximately 812 sq.ft (75 sq.m) and is fitted with counter servery, spot lighting, burglar alarm, carpet, slat walling, exposed hanging beams, display cabinets, card stands, shelving and display furniture. There is a rear entrance from the service yard behind. At first floor level is an office, toilet facilities and a fitted stock room.
THE PROPOSAL
Our clients are inviting offers for the Leasehold interest.
THE LEASE
Being an assignment of the existing lease, being renewable, and with approximately 4 years remaining at a current rent of £15,750 per annum, plus a monthly service charge of approximately £140 per month.
THE BUSINESS
The business "Bazaar" has an established trade of over 30 years have been within the same family ownership for the past 15 years. Main lines include gifts, cards, furniture, home furnishings and jewellery with a number of well known suppliers including Lily Flame Candles, Jellycat Soft Toys, Lanka Kade wooden toys, CGB Supplies and a number of greetings card suppliers. The business is operated Monday - Friday 9.30 am - 5.00 pm, Saturday 9am-5pm with business supporting 4 members of staff (mother and 2 daughters) each working 3-4 days per week, plus one non family member working 2 days per week. Turnover for 2023 was £128,000, 2024 £130,000 with an average net profit of £30,000 taking into account some outgoings for staff wages, with the business benefitting from 100% small business rates relief. The business is a reluctant sale due to pending retirement.
THE STOCK
Any current stock to be purchased at valuation upon completion, estimated at £25,000-£30,000.
THE INVENTORY
The property is sold with the benefit of a detailed inventory of trade fixtures, fittings and equipment.
VAT
Payable, if applicable, at the prevailing rate.
THE ACCOMMODATION (comprises)
SHOP UNIT
48`0 x 16`11 (14.65 m x 5.15 m)
GIA 812 sq.ft (75 sq.m) Counter servery, till, understairs stores, burglar alarm, carpet, slat walling, card stands, shelving, glass fronted display cabinets, display shelving, spot lit jewellery cabinet, ceiling spot lighting, exposed hanging beams
Rear lobby with rear entrance
FIRST FLOOR
STOCK ROOM
15`10 x 13'2 (4.80 m x 4.00 m) Shelving and racking
OFFICE
11`1 x 8`10 (3.35 m x 2.70 m)
TOILET
Low level w.c., hot water heater
With over 40,000 inhabitants including nearby villages, Barnstaple is a thriving town near to beautiful beaches and countryside, and the centre of North Devon in commerce, culture, education and service provision. It has a wide variety of businesses attracting tourists and permanent residents year-round, including a vibrant and diverse collection of bars and restaurants for evening footfall. Barnstaple is easily reached via the A361 which leads to the M5 at Junction 27, has a station with hourly trains to Exeter at peak times, and Exeter airport is an hour away. The town is rapidly expanding with several new housing and commercial developments currently underway, and more than 5,000 new houses and further economic development planned for the near future. The notable towns of Bideford (9 miles), Woolacombe (14 miles), Ilfracombe (12 miles), South Molton (12 miles) and Torrington (14 miles) are also nearby.
THE SITUATION
The unit is situated within the pedestrianised partially undercover shopping area known as Gammon Walk. The subject unit is situated just off the main High Street and located within a mixed retail area. Operators within Gammon Walk include Spec Savers, White Stuff with national retailers close by, on the High Street, Primark, Vision Express and Clarks Shoes.
THE PROPERTY AND CONSTRUCTION
Being a single fronted lock up shop premises within the Gammon Walk retail development. The ground floor shop unit provides a gross internal area of approximately 812 sq.ft (75 sq.m) and is fitted with counter servery, spot lighting, burglar alarm, carpet, slat walling, exposed hanging beams, display cabinets, card stands, shelving and display furniture. There is a rear entrance from the service yard behind. At first floor level is an office, toilet facilities and a fitted stock room.
THE PROPOSAL
Our clients are inviting offers for the Leasehold interest.
THE LEASE
Being an assignment of the existing lease, being renewable, and with approximately 4 years remaining at a current rent of £15,750 per annum, plus a monthly service charge of approximately £140 per month.
THE BUSINESS
The business "Bazaar" has an established trade of over 30 years have been within the same family ownership for the past 15 years. Main lines include gifts, cards, furniture, home furnishings and jewellery with a number of well known suppliers including Lily Flame Candles, Jellycat Soft Toys, Lanka Kade wooden toys, CGB Supplies and a number of greetings card suppliers. The business is operated Monday - Friday 9.30 am - 5.00 pm, Saturday 9am-5pm with business supporting 4 members of staff (mother and 2 daughters) each working 3-4 days per week, plus one non family member working 2 days per week. Turnover for 2023 was £128,000, 2024 £130,000 with an average net profit of £30,000 taking into account some outgoings for staff wages, with the business benefitting from 100% small business rates relief. The business is a reluctant sale due to pending retirement.
THE STOCK
Any current stock to be purchased at valuation upon completion, estimated at £25,000-£30,000.
THE INVENTORY
The property is sold with the benefit of a detailed inventory of trade fixtures, fittings and equipment.
VAT
Payable, if applicable, at the prevailing rate.
THE ACCOMMODATION (comprises)
SHOP UNIT
48`0 x 16`11 (14.65 m x 5.15 m)
GIA 812 sq.ft (75 sq.m) Counter servery, till, understairs stores, burglar alarm, carpet, slat walling, card stands, shelving, glass fronted display cabinets, display shelving, spot lit jewellery cabinet, ceiling spot lighting, exposed hanging beams
Rear lobby with rear entrance
FIRST FLOOR
STOCK ROOM
15`10 x 13'2 (4.80 m x 4.00 m) Shelving and racking
OFFICE
11`1 x 8`10 (3.35 m x 2.70 m)
TOILET
Low level w.c., hot water heater
Brochures
Gammon Walk, Barnstaple, Devon, EX31
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Barnstaple Station0.5 miles
- Chapleton Station4.8 miles
Notes
These notes are private, only you can see them.
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