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The Cycle Centre, 1, New Street, Penzance – Penzance

For sale £19,950 1,350 sq ft

Miller Commercial Agency
Full address
1 New Street, Penzance, Cornwall TR18 2LZ – Penzance
Contact details

020 *** ****

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Property type
Shop, retail unit for sale
Asking price
Exposed ceilings, Kitchen, Storage, Train transport
1,350 sq ft

Highly regarded bicycle specialists in West Cornwall, with retail showroom extending to @1,350Sq. Ft, repair workshop, holding room and office.
The Cycle Centre occupies a secondary trading position on New Street, just a short walk from Market Jew Street, which is the principal thoroughfare within the vibrant Harbourside town of Penzance.
Penzance is the largest town within West Cornwall with a resident population of approximately 20,000 and is a popular destination for tourists year round owing to its proximity to a number of well known land marks including St Michaels Mount and Lands End. Penzance is the termination point for the South West rail link to London Paddington in addition to being the departure point for the Scillonian Ferry which services the Isles of Scilly.
We understand that the business was originally established in 1983 and has been in our clients tenure since 2004, when the previous owner retired. Enjoying an enviable reputation across West Cornwall, the business offers an extensive range of road and off road bicycles from well known manufacturers such as Genesis, Trek, Ridgeback and Saracen, together with a repair service and a vast array of accessories and parts.
The business trades from 9am to 5.30pm Monday to Saturday and is run by our client with the assistance of 4 full time members of staff, (two of which are involved in retail sales and two in the workshop).
Trading accounts for the year ending 31st March 2017 show sales of £264,280, (60% of which is generated from retail sales with the remaining 40% from repairs).
13.455m x 9.37m. A dual aspect room with part double height ceiling and exposed ceiling joists. Windows to front and rear elevations, Changing room. Wooden Floor.
5.15m x 2.54m. 2 windows and Velux to the rear elevation. Pulley system for bikes to first floor storage, (which runs across the retail sales area).
5.06m x 2.53m. Dual aspect room with windows to front and side elevation. Bike bench, 2 radiators.
The existing lease is shortly due to expire but our client has agreed that a new 4 year lease will commence on the 5th August 2018 at a commencing rental of £13,500 per annum.

This shop, retail unit for sale is located in Penzance.

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