‘Outlet’ style clothing retailer
For sale (ref: SCF0438) - added 27 July 2010
West Midlands. Substantial fashion outlet. Busy retail and leisure park location. 20,500 sq ft premises. Significant opportunities. Turnover £2.2m producing EBITDA £81k.
The business operates a large retail fashion “outlet” style store. They sell from owned stock as well as providing floor space for concessions.
They focus on providing top bands for good value and offer well known brands with discounts between 20% and 70% off manufacturers’ retail prices.
Key areas of strength are full range of styles ensuring a full range of products are provided.
Young casual to formal wear (Men & Ladies);
Lingerie (fitting service and special needs);
Evening wear and footwear (Men and Ladies);
Prom dresses (amongst the largest stockists in the UK);
Accessories, including luggage, fashion bags and costume jewellery;
In-store photographic studio, hair stylist and make-up facility.
A 1,200 square foot café provides light refreshments, allowing customers to relax and remain on site. Customers therefore use this store as a destination, rather than for single item purchases.
The sale is for the shares of the business on a debt and cash free basis.
Property Details:
Leasehold, Price: £500,000
Turnover: £2,256,000
Location:
The store is situated on an established retail park on the outskirts of a large Birmingham conurbation and is surrounded by prime retail and leisure operations. Excellent road links to the local motorway and trunk road networks are on the doorstep.
Premises Details:
A large, modern, warehouse unit providing 17,500 sq foot of sales area and an additional 3,000 sq feet, occupied by a café, offices and extensive stockroom.
Lease Terms:
The rent is a very low £12.50 per square foot with annual rates and service charge of £110k. A rent review occurs every five years over the 20 year term, next due in 2014. The lease expires in 2019.
Reason For Selling:
The owner wishes to retire.
The business is a major opportunity for a new owner to enter the local market and build on the reputation, position and potential of this retail operation.
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