Status: For Sale
Tenure: Freehold
Turnover: £39,384
Established Wool Store with AccommodationEstablished Wool Store with AccommodationEstablished Wool Store with AccommodationEstablished Wool Store with AccommodationEstablished Wool Store with AccommodationEstablished Wool Store with Accommodation
Leasehold option available
£158,000 + SAV

Established Wool Store with Accommodation

For Sale
  • Reference: 13788 G
  • Location: Felixstowe, Suffolk
Leasehold option available

Bags of Wool runs as a wool and craft shop selling knitting and crochet yarns, as well as a variety of haberdashery and craft items.

It is the only shop of its kind in Felixstowe and attracts customers from across the Suffolk coast area.

There are different workshops held in the evenings, from crochet classes to knit and natter groups.

The current owner founded the business 8 years ago, and now looks to sell the store, due to the desire to take a well-deserved retirement.

There is further scope for development as there is no real online presence. The opening hours could also be extended.

TENURE

We are advised this is a Freehold opportunity. Our client may also be willing to sell just the property.

Leasehold option available.

HOURS

Opening hours: -
Tuesday to Friday: 10am - 5pm
Saturday: 10am - 2pm
These hours are to suit the owner's way of life and could be extended to encourage more business.

STAFF

The owner is the only staff member.

FINANCIAL PROFILE

Bags of Wool generated an advised turnover of circa £40,000 as of the 2016 accounts, with a gross profit of 41%.

EXTRA NOTES

Little or no competition locally.
Prime location.
Owners accommodation included.
Bags of Wool is located in Felixstowe, Suffolk.

The business is located on a High Street close to some other local shops including a butchers. As well as retail stores the area is also made up of residential properties, from which the business derives much of its trade.

Bags of Wool is set on an arterial road, that receives daily heavy footfall and passing trade. There are great road connections in the area, this includes the A14.

There are bus stops within walking distance and the closest train station is Trimley, a short 5-minute drive away.
The front of the property is well-signed, this is visible to passing trade.

GROUND FLOOR
On entry is the main retail space. This has bespoke shelving for wool and other stock.

There is a hallway leading to the kitchen, off the hall there are the stairs to the flat above and a door leading to the courtyard garden with the summer house.

FIRST FLOOR
The one bedroom flat has access through the shop but also has an external door. The flat consists of a lounge, bedroom, kitchen and shower room.

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