* * * PRICE SLASHED AS OWNERS RETIRE * * * 

LONG-ESTABLISHED PROFITABLE BOOKSHOP

LOCATION

This long-established bookshop is located in a prime position in the main shopping street of West Cornwall's main town. Situated on the shores of Mounts Bay, overlooking the iconic St Michael’s Mount, this characterful town is the commercial and retail centre for the most south-westerly area of the whole country. Boosted by tourism because of the outstanding natural beauty of the area’s coastline, including Lands End, the town nevertheless has continuing all year round trade, with a population of about 15,000 and a large surrounding catchment area.

DESCRIPTION

This well-known and profitable bookshop has been trading for nearly 20 years, selling new books and normally keeping about 10,000 titles in stock. Sales of cards, CDs and stationery have been increasing in recent years, and currently account for about 6% of the stock. With a wide range of titles in the many different sections, the local interest category accounts for about 10% of the stock, and is another growth area, being popular with both residents and visitors. The owners operate a loyalty scheme and have many regular customers who appreciate the friendly personal service and take advantage of the ordering service, which offers delivery in 24 hours.

THE BUSINESS

This business has been successfully run by the owners for nearly 20 years, defying such issues as the slump in the early 90s, discount and supermarket selling as well as Internet trading.  The turnover of £306,000 gives a gross profit of over £85,600. The business is now available for sale only because the owners are retiring.

THE PROPERTY

The shop occupies the ground floor of an attractive 3-storey character building in the main street with a wide stone-flagged pavement outside, which is raised several feet above street level. In 2006 the shop premises were the subject of improvements and refurbishment costing about £45,000. The shop has full height display windows and a glazed door, with a well-fitted, carpeted SALES AREA of over 600sq.ft. (56sq.m.) and a further STORAGE AREA where deliveries and returns are processed. OUTSIDE is a further part-covered area, which could be developed as further storage space or sales area - possibly for a reading room or café. Stairs lead up from the inside storage area to the first floor, to the staff TOILET facilities and a good-sized OFFICE with staff kitchen facilities and further STORAGE SPACE.

FIXTURES, FITTINGS AND EQUIPMENT

A complete list of fixtures, fittings and equipment will form part of the contract of sale, but will include all the purpose-built shelving, display stands and spinners, the electronic till and computer system with Windows. The shop’s Internet website is to be included in the sale.

TENURE       Leasehold. A new lease is being offered for a term to be agreed,  with an initial     

STOCK         Stock to be sold separately at valuation (SAV) £30,000 approx.

PRICE           £ 19,950 for the Goodwill, Fixtures, Fittings & Equipment and the

                       Leasehold interest. 

OR                 £339,000 f or the Goodwill, Fixtures, Fittings & Equipment and

                       the Freehold property including the accommodation.

VIEWING     Strictly by appointment only through Lakey & Co. 

AGENTS COMMENTS

This represents a rare and fleeting opportunity to purchase a well-established and thriving business in a busy town centre. The profitable bookshop is very well-known in the area and is always busy, offering an enormous choice of books on display in the fully utilised sales area, as well as a next-day ordering service. There has been a bookshop in these premises since the 1970s and there is virtually no competition in the town, with only one other much smaller independent bookshop. The owners, who are retiring, are happy to be flexible about the amount of stock to be purchased, and are willing to ensure all necessary training for a new purchaser. This profitable business in the most south-westerly town centre in the country, surrounded by amazing world-renowned coastal scenery, is now the bargain of the  century because the owners have decided to retire very shortly and wish for a quick sale.