Due to the planned retirement of the principal Directors of this long established textile company, this unique business and associated premises are being brought to the market. The family owned business has traded for around 30 years serving a substantial customer base throughout the UK together with a significant level of international sales. The company operates from extensive modern premises in Forfar and benefits from strong and loyal members of staff. The purchase of this business, which shows a consistently rising turnover, offers an excellent opportunity for further development of this unique heritage product and iconic brand.
The business is contained within a two storey detached building, purpose-built in the 1970’s and predominantly of facing brick construction with a mansard style slate roof.
BUSINESS - Strathmore Woollen Company Limited is a quality and well established business which has operated under the same family guidance for around 30 years with the proposed sale due to the retirement plans of the principal Directors.
It is our clients’ preference to effect a sale of the business and premises as a single entity however consideration may be given to selling the business element and leasing the heritable property.
Despite the recent difficult economic and market conditions, the company has continued to trade well and profitably with a significant increase in turnover during the last trading year. Turnover levels have consistently been in excess of £700,000 and an Accounts Summary will be made available to interested parties after viewing and confirmation of a continuing formal interest.
Location
Forfar is the main administration centre for the Angus Council area with the town lying adjacent to the A90 Dundee to Aberdeen road enjoying excellent transport links to both cities. The town has a resident population of 14,000 and serves a large surrounding rural area.
The subjects occupy a prominent corner site off the east side of North Street at its junction with Service Road, to the north of Forfar town centre. This is a mixed residential and light commercial area with the property well placed to the usual local amenities and facilities.
Accommodation
Internally, the extensive accommodation extends to around 453 sq m (4,870 sq ft) with the majority of the premises occupied by Strathmore Woollen Co. Ltd, although part of the first floor office space is let separately at a passing rent of £10,000 per annum.
The internal accommodation can be summarised as follows:
Ground Floor - Entrance Hall, Reception, General Office, Showroom, Work Room, Store, Fabric Store, Boiler Room and Toilet.
First Floor (Strathmore Woollens) - Landing, Store, Work Room, Office, 2 Stock Rooms, Kitchen and Toilet
First Floor (Tenanted) - Landing, Large Open Plan General Office, Private Office, Board Room, Kitchen, Shower Room and Toilets.
A surfaced car park is provided to the front of the building for around 12 vehicles with additional rear servicing facilities.
Terms
ASSESSMENT - We have consulted the Tayside Assessor’s website (www.saa.gov.uk) and note that the premises are entered in the current Valuation Roll as follows:-
Shop etc, Rateable Value: £8,700
Office Rateable Value: £9,900
The Uniform Business Rate for the financial year 2013/2014 is XXX.
Small Business Relief may be available and this should be checked with Angus Council.
ENERGY PERFORMANCE RATING - A copy of the Energy Performance Certificate will be made available to interested parties. The EPC grading is C.
PRICE - Our clients are seeking offers in excess of £350,000 for the heritable property interest together with the trade fixtures, fittings/equipment and business goodwill.
Stock will be purchased separately at valuation.
OFFERS - All offers should be submitted in Scottish legal terms to D M Hall LLP
ENTRY - Early entry can be given on conclusion of legal formalities.