VIIBE, WENTWORTH STREET,
PORTREE, ISLE OF SKYE
(INCLUDES SHOP PREMISES AND BUSINESS)
Offers in the region of £165,000
Location Map
DESCRIPTION
Occupying a high profile situation in the main street of the busy town of Portree the subjects for sale comprise of a most attractive double fronted shop successfully providing music Cd’s, DVD’s and Video/Console Games (Playstation) etc. This is a unique opportunity to acquire an easily-run and very profitable niche retail business in Portree, the capital of the Isle of Skye. Vibe is a modern, fully fitted shop in a prime location and benefits from a high footfall due to its excellent position. The business was established in 2005 and is enjoying continued success and trading growth having no direct competition on the Island or indeed within a hundred miles. The business can easily be run by a sole trader or couple. Alternatively it is sufficiently profitable to be an investment opportunity and run by a manager.
THE SHOP
Vibe is situated in an attractive double-fronted shop in the busiest retailing position of Portree, adjacent to the chemist and opposite the newsagent. The shop is an easily managed and low overhead cost operation with a floor area of 16 sq. metres (4m x 4m). Prior to opening in June 2005 the premises were fully refurbished and re-wired and the shop now presents a stylish modern appearance with high quality fittings and fixtures, all of which are included in the sale.
LOCATION
The Island of Skye has a population of approximately 12,000 people of whom over 2000 inhabit Portree, the capital of the island. Portree is a rapidly expanding and vibrant town with excellent facilities and services including supermarkets, shops, hotels, restaurants, a cottage hospital and modern medical centre, leisure facilities and both primary and secondary schools. Portree High School is the only secondary school on the island and serves some 600 pupils. The shop derives a direct benefit from the large number of workers who commute into Portree daily from the surrounding areas for both work and shopping purposes and from the many school pupils also. Of course, Skye remains principally a famous holiday destination and during the ‘tourist season’ over one million visitors come to the Island and its capital. The trade brought by this large influx of visitors is clearly very significant to the business which also enjoys stable and profitable trade during the winter months.
The Skye Bridge connecting the island to the mainland is some 32 miles to the south and this is now toll free.
OPERATION
The shop offers a wide range of:-
Chart, back-catalogue and collectable CD’s and DVD’s
Scottish and local CD’s and DVD’s
New and pre-owned console Games (PS2, PS3, PSP, Nintendo DS, Nintendo Wii, X box and Xbox360)
Games Consoles
Entertainment system accessories and peripherals (headphones, chargers, etc.)
The shop is run and managed daily by one sales assistant/manager and is open Monday to Saturday from 9.00 am. to 5.30 pm. Also during the Tourist Season is opens on a number of Sundays from 11.00am. to 4.30pm. There are a number of local part time staff to provide cover fro holiday and other leave requirements.
Additionally, whilst the Business is currently trading very strongly, there are three areas for potential growth. These are:-
Providing a DVD rental shop
On-line sales. Mail Order of specialist Scottish and local CD’s via Viibe website.
Establishment of ‘satellite’ Viibe shops in similar towns.
TRADING & FINANCIAL
The shop has enjoyed continued sales and profit growth since its establishment and this is forecast to continue. Sales for Calendar Year 2007 will be in excess of £155,000 gross (£133,000 net of VAT) and the annual Gross Profit achieved for 2007 will be circa. £58,000 (net of VAT). The business utilises a comprehensive EPOS computerised till and stock control system. Full financial records can be made available upon request.
VIEWING
Strictly by appointment with this agency.
ENTRY
By mutual agreement.
PRICE
Offers in the region of £165,000 .
Included in the sale are:-
Shop Premises
The Goodwill
All fixtures, fittings, EPOS computerised Till system, integrated Hi-Fi music/DVD system
Stock at Valuation
Trading Name (Viibe)
Website (www.viibe.co.uk )
Initial training and support (if required).
Offers should be submitted in proper Scottish legal terms to:-
The Isle of Skye Estate Agency (Portree)
Bridge Road
PORTREE
Isle of Skye IV51 9ER
www.iosea.co.uk
Email: sales@iosea.co.uk
Tel: 01478 612683
OR
The Isle of Skye Estate Agency (Kyle of Lochalsh)
Main Street,
Kyle of Lochalsh,
Ross-shire.
IV40 8AB
Tel: 01599 534555
Fax: 01599 534480
Email: sales@lochalshproperties.co.uk
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REFERENCE NUMBER : 2026
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It is important that if you retain an interest in the acquisition of
this property you arrange for your interest to be formally noted to
this Agency, otherwise a sale may be concluded or a closing date set
without you having been advised. |
