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Well Known Hardware Store & Key Cutting

Ramsgate, Kent

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Archived

£39,950 +SAV

Ref: B04677

Leasehold

Overview

Please quote reference B04677

Hilton Smythe welcomes to the market Ye Olde Iron and Lock Shoppe.

Ye Olde Iron and Lock Shoppe is a well established business which has been owned and run by our client for over 30 years.

This business provides a key cutting service plus an array of hardware supplies from brooms to nuts and bolts.

Due to the length of time the business has been running they have a very loyal customer base, who are mainly residential customers from the local area.

The business is currently open limited hours as the current owner has semi-retired and is now looking to sell to be able to retire fully, we have been advised that when the business was open full-time the turnover was over £70,000 per annum.

Scope to Improve;

• Advertising and marketing campaign
• Loyalty scheme
• Extend current opening hours


Hilton Smythe highly advise early viewing to avoid disappointment.

Turnover
We are advised in 2016 the business generated;

Turnover of £30,209
Gross profit of £18,120
Net profit of £12,406
Asset value of £5,000
SAV value of £38,000


Please quote reference B04677

The business is currently run solely by the current owner.

The business is currently operating at reduced hours

Monday, Saturday & Sunday - Closed
Tuesday - Friday: 8:30 am – 12.00 pm


Ye Olde Iron and Lock Shoppe is located along Brunswick Street in Ramsgate, with a convenient metered car park opposite to the business.

Ramsgate is a seaside town in the district of Thanet in East Kent. It was one of the great English seaside towns of the 19th century. In 2001 it had a population of around 40,000.

The premises is conveniently located 1.1 miles away from Ramsgate Train Station which lies on the Chatham Main Line, calling at stations such as Margate, Sittingbourne, Bromley and London Victoria

Full length windows and glazed doors to front creating a light airy and inviting interior.

As you enter the premises you are greeted with a small reception area with the till system and stock room to your right and the key cutting area to your left.

The first set of stairs takes you to another stockroom which also houses the office area where the the desk and filing cabinets are kept. Down the next set of stairs takes you to the basement where more stock is kept.

Equipment:

• Desk
• Filing cabinets
• 3 x key cutting machines
• Till system
• Racking


Tenure
This business is being sold as a Leasehold opportunity with a brand new 10 years Lease.

Rent will be charged at £5,400 per year which is very reasonable for the size of the premises.

We are advised that there are no rates currently payable.

 

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