This is a fantastic opportunity to purchase a business with an established goodwill, situated in a prime position in one of the Kings Road Arches on Brighton’s seafront. The premise is located in central Brighton on the lower promenade beach area, directly down from Brighton’s mainline station and is in close proximity to the Brighton Conference Centre. The art gallery currently specialises in limited edition prints and original artworks. The client base being a combination of excellent repeat trade from a valuable customer base of both local and seasonal visitors who are looking for unique pieces of art.
PREMISES: The art gallery is located in the desirable Artist Quarter of the Kings Road Arches and is closely located to the Palace Pier and adjacent to the carousel and other amusements located on the lower promenade. The arch has recently been refurbished and is fitted with electricity and fibre broadband. The arch has paintings displayed throughout on the walls and on shelving and also has the benefit of the large sheltered forecourt to the front of the gallery, which is used to display additional items for sale. There is also an ideally locate workshop at the very rear of the arch.
TURNOVER: The business is currently run under management, with the vendor only working on site when needed. There is currently 1 staff member who opens the studio on the weekends and another part time staff member who is available when needed. During the winter months they only open at weekends, however in the summer months they trade 7 days a week 10am-6pm. These hours could be increased to encompass an all year-round trade. The Arches are part of the Artist Quarter, and therefore have restrictions on what can be sold. During the high summer season the gallery will average between £2,000-£3,000 per week and £1,000 per week in the low season.
TENURE: The arch is held on a lease at a current rental of £4,000 per annum and has 2 years remaining. The lease is fully renewable.
RATES: We have been verbally informed that the rates payable amount are zero due to the small business rate relief scheme. The rateable value for the property is £5,500. Prospective occupiers should make their own enquiries to verify same.
GENERAL REMARKS: Ideal owner operator business. Prime location on Brighton seafront. High footfall. Low overheads. Renewable lease.
PRICE: We are instructed to quote for the lease, goodwill, equipment, trade fixtures and fittings PRICE – £55,000 SAV
LEGAL FEES: Each party to be responsible for their own legal costs.
VIEWING: On no account should any approach be made to the Manager or the staff without a prior appointment through the vendor’s agents, Watkins Commercial, Telephone: 01273 709090.
ENERGY PERFORMANCE CERTIFICATE: Our client has been made aware that an EPC certificate is required for the premises.
DISCLAIMER: Neither the Vendor nor the Agent gives or implies any warranty that the premises are fit for any particular use or that they comply with any relevant regulation or statutory requirement.
The agents have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order. The buyer is advised to obtain verification from their solicitor or surveyor before proceeding with the purchase.
VAT: All prices and rents are quoted exclusive of VAT. Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.
MORTGAGE & FINANCIAL PLANNING: We shall be pleased to assist any purchaser in arranging finance to acquire this business or any other business you may be considering subject to status.
Prop. Ref: 6781M
These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract
APPLICANTS CONFIDENTIALITY AGREEMENT
I understand and agree that any information regarding any business supplied to by Watkins Commercial will be kept strictly confidential. I also undertake that I will:
i) View businesses registered with Watkins Commercial by appointment only.
ii) Not contact any owner, staff, suppliers, competitors or customers of any business registered with Watkins Commercial
iii) Not pass on any information supplied by Watkins Commercial to any third party other than a professional advisor et. Bank, solicitor, surveyor accountant, etc.
iv) Submit any offers direct to Watkins Commercial with whom I will conduct all negotiations
v) Be liable for any commission which would have been due to Watkins Commercial should I be party to negotiations or actions which seek to preclude, or are contrary to the interest of Watkins Commercial
