Looe, Cornwall, Situated in the heart of the town close to

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£65,000

Looe, Cornwall, Situated in the heart of the town close to

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Looe, Cornwall, Situated in the heart of the town close to in East Looe CON is a House

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Price:

£65,000 Get Prequalified Today

Contact:

01503 265265

Location:

East Looe, Cornwall

Description:

Situated in the heart of the town close to the harbour and sea front, Moores of Looe is an established fruit and vegetable business operated from a leasehold shop that attracts a current rent (cont.)

DETAILS
Situated in the heart of the town close to the harbour and sea front, Moores of Looe is an established fruit and vegetable business operated from a leasehold shop that attracts a current rent of 7000 per annum. The business has expanded in recent times and in addition to fruit and vegetables Moores also has an off licence, delicatessen/cold meats counter and a hot potato oven producing jacket potatoes. We understand the current shop lease expires shortly and that a new lease is in the hands of solicitors, this will commence in March and the new rent has been agreed at 7500 per annum. This owner run business has both retail and trade customers and offers an excellent opportunity for someone wishing to take on a small business in a delightful and thriving coastal town.

Location
Situated on the south coast of Cornwall, Looe is a historic, picturesque and magical fishing town with quaint old buildings, narrow twisting streets, smugglers taverns, fine restaurants and a wonderful sandy beach with shallow seas and a wealth of rock pools. The safe bay and estuary are a favourite with sailing, motorboat and water sports enthusiasts whilst the activities of the fishing fleet are a constant fascination to all. Only a quarter of a mile from the beach is St Georges Island, once a popular landing place for smugglers. Divided into East and West by a seven arch bridge and the Looe river, the main town is on the eastern side and offers a diverse range of shops, good facilities, local amenities and excellent schools. Looe is easily reached by the M5/A38 and is served by a scenic branch railway from Liskeard that connects through to Plymouth and from here the rest of the UK. In addition to this there is also a regional airport at Plymouth with regular flights to London (Gatwick).
Plymouth 20 miles. Liskeard 9 miles. Fowey 12 miles. London approx 240 miles.

Despription
This is predominately a fruit and vegetable business with the addition of an off licence, delicatessen counter and hot potato oven. The business is mainly retail with a trade side having some 40 customers including local restaurants, camp sites etc.

Situation
The shop can be found in the centre of town close to the harbour and sea front.

The Premises
Good size shop with glazed display windows and recessed entrance providing an extrenal display area. The main retail area is approximately 33 sq metres with an additional storage area to the rear of approximately 18 sq metres that includes the walk in cold room. There is a hand wash sink by the delicatessen counter and a further sink to the rear, both having hot water heaters above. WC to the rear. External door to the rear.

Fixtures and fittings
These are as seen with the main items being fruit and vegetable racks, bottle fridge, upright fridge, chiller cabinet, potato oven, microwave, meat slicer, samsung cash register and shelving.

Trading Hours
The business currently trades 6 days per week out of season and 7 days per week during the season. Out of season hours are approximately 08.30 - 16.30 and in season hours are 07.30 - 18.00.

Turnover
The turnover for the year ending March 08 was in the region of 190,000 with a gross profit of approximately 20%. Accounts for the half year to August 08 have been prepared and these show a turnover of around 97,000 with a gross profit of approximately 31%

Lease
The current lease expires shortly and we are informed that a new lease is in the hands of solicitors and that this will run from March 2009 for a period of 9 years.
The current rent is 7000 per annum and the new rent agreed from March 2009 will be 7500 per annum with 3 yearly reviews.

Services
Mains water, electricity and drainage

Rates
The RV is currently 9400 which equates to an amount payable of 4342.80

Stock
The purchasers would be expected to buy the stock at valuation

Legal Fees
The ingoing tenant will be resposible for the outgoing tenants reasonable legal fees in connection with the assignment of the lease.

Directions
On entering East Looe proceed down the main shopping street ( Fore Street ) and Moores can be found on the right just before reaching the HSBC Bank.

Property Type:

Single-Family Houses

Amenities:

Refrigerator, Storage

For sale by:

Agent/Broker

Phone:

01503 265265

Posted:

February 17 2011 on Facebook

Contact:

01503 265265