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LOCATION
The property is located on the southern end of Southgate towards the railway crossing. The area comprises a mix of local businesses.
Sleaford is a well-serviced town with both national and retail shopping outlets, to include supermarkets, takeaways, public houses, various educational facilities and sports and leisure clubs.
The town is served by the A17 and A15 main roads and there is a railway station located on the Nottingham to Skegness line.
DESCRIPTION
Business For Sale - An excellent opportunity to purchase a well-established town centre business operating as a Fabric, Wool, Yarn and Haberdashery Shop and provides a clothing repair and alteration service, together with a retail of various gifts. The property is currently occupied on a Leasehold basis at £4,800 per annum, with a new Lease available to the ingoing Tenant at the same rate for the initial twelve months of the Lease. The business is available to purchase to include goodwill, fixtures and fittings, together with all existing stock (excluding Liberty Fabric). The retail units extend to approximately 724 sq.ft (67.3 sq.m) plus ancillary storage and kitchen and toilet facilities.
ACCOMMODATION
The property originally comprised two separate retail units that have now been interconnected, with an opening between the two.
Retail Area Shop 1 - 8.05m x 4.01m plus 1.47m x 1.59m
With a glazed entrance door, two electric heaters and an air-conditioning unit
Store Room off - 2.90m x 2.14m
Kitchenette - 1.59m x 1.40m
Cloakroom with WC and wash basin
Retail Shop Area 2 - 8.13m x 3.83m plus 0.63m x 2.15m
Having glazed window to front elevation.
Store Room - 3.69m x 3.15m (max dimensions being 'L' shaped)
Cloakroom with WC and wash basin
SERVICES
Mains electricity, water and drainage are connected to the property.
There is an air-conditioning unit within 82A Southgate.
EPC Rating - B.
TERMS
The Vendor has advised that the property is available by way of assignment of the existing Lease, with the property currently let at £4,800 per annum exclusive. We are also advised that the Landlord may be prepared to offer a new Lease to be negotiated with the initial rent charged for the first year at £4,800 per annum exclusive. A deposit may also be payable.
The business is offered for sale to include all goodwill, fixtures, fittings and stock at valuation (excluding the Liberty Fabrics). The property has been trading as a successful independent fabric, wall, yard and haberdashery shop, which also provides a clothing repair and alteration service, together with the provision of personal gifts.
Further details relating to the turnover and trade of the business can be provided by the Vendor to seriously interested parties only and upon request.
OUTGOINGS
Rateable Value - To be confirmed.
Small Business Multiplier (2023/2024) 49.9p in the £.
The property may qualify for small business rates relief.
Prospective tenants should make their own enquiries regarding Small Business Rates Relief.
VAT
VAT is payable on the rent payable at the prevailing rate.
LEGAL COSTS
The ingoing Tenant/Purchaser will be responsible for the Agent's referencing fee (£100 inc VAT) together with all legal costs incurred in the transaction.
VIEWING
Via Mundys Commercial.
