The premises are located on the ever popular Newport Industrial Estate in Launceston at the far end of the estate at The Roundabout. The town has immediate access to the A30 'Gateway to Cornwall' route. This is a popular market town with an ancient castle and town square with a variety of local traders. Launceston is approximately 42 miles west of Exeter, 26 miles North East of Plymouth and 21 miles East of Bodmin.
Launceston Cycles operates from a semi-detached industrial building on the Newport Industrial Estate. The premises comprise of a ground floor lock up unit of approximately 1,000 sq ft, which is arranged as the main retail area, storage room and counter display with staff cloakroom.
The business is held on the balance of a 5 year lease which expires in October 2019 with the ability to renew subject to Landlord's consent. With the current passing rent of £7,200 per annum and an ingoing premium of £79,950.
Operated by our clients for approximately 11 years, having been in the current location for four years. The shop opens 5 days a week, 9am – 5pm Monday to Friday (Thursday 9am – 8pm). Launceston Cycles is a truly lifestyle business as the owners have chosen to close on the weekends, but it is envisaged that an ingoing purchaser could extend opening hours to increase trade. The current business trades in the sale of high quality cycles, including the brand 'Giant' cycles and a vast variety of cycling accessorises. It also acts as a service centre for repairs and upgrades. The turnover for 2018 was approximately £181,292 with a gross profit margin of £60,550. This business has produced a healthy net profit for the current owners who are now retiring, hence the reason for this sale. We strongly recommend early viewing of this business to avoid disappointment. The sale includes all counter display and fixtures and fittings but excludes stock at valuation (which depending on the time of year will be between £55,000 - £75,000 extra on top of the current ingoing premium of £79,950).
An incoming purchaser will need to provide the usual bank and trade references for Landlord's approval to take over the assignment of the existing lease.
MAIN UNIT 35'8" (10.87m) x 30' (9.14m) Approx.. Incorporating:
MAIN ENTRANCE/SERVICE AREA 10'8" x 17'9" (3.25m x 5.4m). With stock area and cloakroom.
COUNTER DISPLAY AREA 15' x 10'8" (4.57m x 3.25m). With main counter.
OVERALL RETAIL AREA In two sections with bike display stands etc.
OUTSIDE There is ample parking on the forecourt for trade and retail customers.
VAT All interested parties should make their own enquiries of HMRC.
VIEWING Strictly by appointment through the selling agents.
RATEABLE VALUE To be advised.
COUNCIL TAX BAND To be advised.
WEBBERS DO NOT JUST SELL HOUSES Established over 40 years ago our dedicated specialist Commercial Department deals in the sale and letting of all types of commercial property including Guest Houses, Hotels, Restaurants, Pubs, Holiday Complexes, General Businesses, Post Offices, Retail Businesses of all kinds, Shops, Offices, Investments and Industrial Premises. If this property does not suit visit our web site www.webberscommercial.co.uk or call our office on[use Contact Agent Button]. For out of hours call our mobile number[use Contact Agent Button].
WANT TO KNOW MORE? We recognise that buying a property is a big commitment and, therefore, recommend that you visit the local authority website (contact the branch for details) and the following websites for more helpful information about the property and local area before proceeding. www.environment-agency.gov.uk www.landregistry.gov.uk www.gov.uk/green-deal-energy-saving-measures www.homeoffice.gov.uk www.ukradon.org www.fensa.org.uk www.nesltd.co.uk http://list.english-heritage.org.uk
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