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Leasehold:
£350,000

High Quality Jewellers St. Ives, Cambs

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ReferenceJ32948E / RightBiz
Status
FOR SALE
Advert ID186053
LocationSaint Ives, Cambridgeshire
SectorJewellery Shops, Retail
TenureLeasehold
Leasehold Price£350,000
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Piggotts the Jewellers are a long established and successful business founded by the vendors in 1981 and now coming to market for the first time. Enjoying an enviable reputation as the premier jeweller in this affluent up market area the vendors now wish to retire.

Located in the market town of St. Ives and only 12 miles from Cambridge, the store enjoys an enviable location in a pedestrianised street with continuous footfall where the dual aspect displays catch the passing eye.

St. Ives is a busy and popular town, densely populated with a high level of affluence. The stores influence and reputation spreads far beyond the town and consequently enjoys a large and loyal client base built over the last forty years.

Appealing to either an investor or hands on owner, you should benefit from the high regard and reputation carefully built over the years and should enjoy a very healthy living from this excellent and highly regarded concern.

THE BUSINESS ITSELF The principal activity of the business is retailing a comprehensive range of jewellery, watches and accessories, plus an extensive repair service. Jewellery products supplied include popular brands such as Citizen watches, Nomination, Clogan and Calvin Klein.

With the owners spending limited time on the premises the shop is run by a shop manager, admin manager and five members of staff, most of whom have been employed for many years and have an extensive knowledge of the business. It is felt that the management team are more than capable of running the business on a day to day basis.

The trading history is well documented and shows a turnover of nearly one million pounds per annum with the high G.P. you would expect from this type of business.

There is much scope for increasing trade as there is currently no online trading.The store does not stay open for late night shopping nor does the store open on Sundays, which is a popular visitors day in St. Ives.

The store enjoys membership of the Company of Master Jewellers with the many trading benefits this makes available.

Unlike many jewellers, the average stock age is no more than two years and there is no dated stock. This is especially important in this fast moving sector and the freshness and variety offered is one of the many reasons for the success of this concern.

ACCOMMODATION ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY

The premises occupy a prominent position in an edge of town location within close proximity of car parks and on street parking. The property is really well presented with a large amount of display windows on two sides facing onto busy walkways.

The retail area measures some 800sq ft and is furnished to a very high standard with all display units, islands and counters being finished in light oak with complementary floor surfaces to enhance the visual appearance. The whole has been recently upgraded by the highly regarded Cambridge Shop Fitters under the supervision of the vendors and the quality shines out.

For security, there are internal electric shutters, a 'smoke cloak' and 'smart water' safeguard systems. The exterior windows are Custodian Romag Glass. There is a CCTV system operating internally and modern contract alarm system.

To make the customer experience more pleasurable there is full air conditioning replaced in January 2016 which adds to the ambience so carefully created. The full EPOS system can be viewed remotely.

Behind the security door is the back office where repairs and admin is undertaken. There is a small rest and refreshment area and disabled w.c.

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