• Price range

Commercial For Sale in St. George's

Ref: BAP203
  • Guide price
  • $125,000
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Property Information

  • Bathrooms 1

Agent

Agent Brian S. Alkon

  • Brian S. Alkon
  • (441)505-0512
  • balkon@northrock.bm
ST. GEORGE'S; Gift Shop For Sale - Somers Wharf, Bermuda Linens & Gifts was founded by the current owner in 2011 and is now reluctantly being sold only so the owner can pursue her dream of relocating and semi retirement. The business sells a wide selection oftable & kitchen linens, home décor, gourmet foods, teas, gifts and souvenirs, resortwear and Bermuda themed t-shirts, hoodies and sweatshirts.The business benefits from its own e-commerce website, Facebook page (near 1200 followers), Twitter (543 followers) and Instagram and enjoys great visibility on the internet.Tourism is a big part of the trade but half still comes from a loyal local following. Known for its friendly welcoming atmosphere and relaxed shopping, this shop is regularly sought out for unique and fun gifts and enjoys a huge Christmas shopping following.

Scope to Improve: Advertising and marketing campaign,Maximise the use of social media particularly twitter and Instagram,Extend the opening hours,Explore the possibility of party planning,Attend/host wedding fairs and seasonal events, Adding your own unique product.

Location:The shop is located in St. George’s on the lovely Somers Wharf, sandwiched between the beautifully renovated Wharf Restaurant and the prestigious Island Shop. The Unesco World Heritage town of St. George’s draws locals and visitors for its old worldly charm and history. During the tourist season, 2 ferries shuttle visitors back and forth from the cruise ships. Looking forward, the world renowned, luxury St. Regis Hotel will be opening, next to Fort St. Catherine, bringing many international visitors to our shores. Plans are in effect for a new marina and continuing the flow from the Americas Cup and our yearly yachting and sailing visitors.

Premises:The business occupies a t-shaped building with front and back door entry. It has its own bathroom, back room with mini fridge and microwave and 2 changing rooms. The shops generous 1500 square feet have carpeted floors with one area of beautiful wood flooring. Surrounded with windows and glass doors create a light, airy and inviting interior. Located high on the walls are huge, good-looking wood cupboards, housing all of the extra stock. There is no need for outsourced storage. The A/C was replaced a couple of years ago and works beautifully with its 6 ceiling vents throughout the shop.The shop has a long functional POS counter with plenty of inner shelves and storage. There are 3 jewelry display counters and numerous tables, shelving and hanging racks, built in and movable. The business uses QuickBooks Premiere Retail Edition on a Windows computer with printer. There is also a credit card machine and 2 telephones with answering machine.

Tenure:There is currently a 2 year lease that is only a few months in. The landlord is extremely generous and flexible, keeping a reasonable rent of $1500/month with concessions during the winter months assessed annually.

Hours: Monday, Wednesday & Thursday 10am – 5:30pm;Tuesday & Friday 10am – 5pm; Saturday 11am – 5pm; Sunday - Spring and Christmas

Staff: The business is owner managed with the help of casual staff during busier periods.

Financial Profile:The business has held its own and is in a prime position for an expected upturn in tourism activity. This retail space will prove to be in high demand.

Asking Price: Value of goods, furniture & fixtures – approximately $125,000.Priced for a quick and easy sale.

Support & Training: The owner’s aim is to find a suitable buyer who wants to take over the shop and keep its long time loyal customers happy. Being fully committed to providing extensive training, support and hand over it is also their full intention to ensure the smoothest of transition from one owner to the next. They will assist in every possible way including business and buying advice.

Bermuda Linens & Gifts is a “destination” shop. The owner has spent decades building a fantastic reputation, starting with The House of Linens in Hamilton, and building a faithful, loyal customer base, including yearly return visitors. This shop is ready to step into. All you need is your time, energy and new touches to make it your own. Listed for $225,000.00.

Property Details
  • Property Type: Commercial
  • Location: Somer's Wharf Shops and Restaurants, Water Street, Bermuda GE05
  • Sale Price: $125,000
  • Bathrooms: 1
Agent

Agent Brian S. Alkon

  • Brian S. Alkon
  • (441)505-0512
  • balkon@northrock.bm

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Agent

Agent Brian S. Alkon

  • Brian S. Alkon
  • (441)505-0512
  • balkon@northrock.bm