“contemporary” Home Furnishings And Interior Design Retail Superstore for Sale
Leasehold : £ 850,000
The business operates from very high profile leasehold premises on a well-known retail park that services the local demographic, which has a high level of disposable income. There is ample parking.
“Contemporary” Home Furnishings and Interior Design Retail Superstore
Location North Lanarkshire/Greater Glasgow, Scotland
Asking Price £ 850,000
This dynamic, profitable and desirable home furnishings retailer was set up back in 2010 by the current owner as a well balanced retailer of home furnishings and furniture.
Over time the business has evolved in response to market demand and demographics into a highly contemporary retailer offering high quality unusual and highly individual product lines that are unavailable elsewhere in the market.
As part of its unique product offering the business provides its customers with in-house interior design and advice and staff are able to construct individual packages tailored for customers own homes using a mixture of instore and catalogue bespoke products to create a look clearly not from a mass market retailer!
The company has created a truly unique shopping experience and an offer which is individual and different from many of the national home décor retailers currently trading on large retail parks. This retailer presents room sets comprising bedroom and dining furiture with matching art, soft furnishings, wallcoverings, lighting and finishing touches enabling customers to purchase the “full package” in one visit.
The store has become renowned in the region and beyond as a “destination retailer” and is located on a highly prominent and accessible retail park in an area that boasts very high levels of disposable income.
It is highly profitable and has scope for further development
||7 days a week
||There are 3 shareholders in the company. Only one of the directors works on the business on a part/full time basis, the other two operating remotely on an ad-hoc basis due to other business commitments.
The business has carefully constructed an excellent team of staff who run the business on a day to day basis. The business employs a General Manager, Two Operational Managers and a Merchandiser as well as team of both part time and full time experienced sales/design personnel and administrative staff.
||The unit is circa 27,000 square feet in total. Annual rent is circa £200,000 p.a. However the vendors have recently sub-let part of the premises (circa 8,000 square feet in total) to two complimentary retailers, which generates rent revenues of circa £150,000 p.a. meaning the net rental figure is circa £50,000 p.a. for 19,000 square feet. This arrangement also has the benefit of increasing footfall within the store and will also improve the profitability of the business still further in the coming years.
We are advised the current lease is for 4.5 years (3.5 years remaining at time of going to market) with option to extend. We are advised the landlord would be happy to sign up to a longer lease, subject to negotiation.