Art and craft gallery with ice cream business for sale in Grasmere, Cumbria

Description

Sale of a well-established and highly regarded leasehold business situated in the centre of a highly popular Lakeland village. The premises occupy a prominent position with large double bay windows, providing strong visibility and natural footfall.The primary business is an art and craft gallery, complemented by a successful and popular ice cream operation within the same unit. The space is partially divided, with a dedicated section for ice cream sales and a separate partitioned area used for picture framing, alongside the main gallery space.The gallery showcases a curated selection of high-quality original art and craftwork sourced from artists and craftspeople across Cumbria and the wider UK. The range includes ceramics, original artwork, prints, sculptures, local slate products, jewellery, furniture, hand-printed textiles, silk scarves, and other artisan goods.There is clear scope to further develop the business, particularly within the picture framing element. At present, framing is primarily carried out for gallery stock, however there is strong untapped demand for general picture framing services within the local area.The premises are prominently positioned on College Street in the centre of this highly sought-after Lake District village, adjacent to the village green and main bus stop. Grasmere is one of the most visited destinations within the Lake District National Park, known for its literary heritage associated with William Wordsworth and the Lakeland poets. The area is also part of a UNESCO World Heritage Site and attracts an estimated 19 million visitors annually.The BusinessThe business is well established and is being sold due to retirement. It generates strong trading figures, operating well above the VAT threshold for both the gallery and ice cream operations. Financial accounts are available to genuinely interested parties following viewing of the property.The business is currently operated by a husband and wife team, supported by two permanent part-time staff members working four days per week each, along with additional seasonal staff for the ice cream trade. A full handover is available from the current owners, including specific training in picture framing if required by the purchaser. Stock is available at valuation.A car parking space to the rear of the property is currently rented from the landlord.ServicesMains water, electricity, and drainage are connected.TenureLeasehold. The property is held on an original 12-year lease from 17 May 2020, with a current rent of £19,992 on IRI terms. The lease includes a 3-year rent review cycle and a break clause available in 2028.Business RatesRateable value: £18,500Actual rates payable: £9,231.50 (potentially reducible subject to eligibility for Small Business Rates Relief). Further information is available from Westmorland and Furness Council.Anti-Money Laundering RegulationsIn accordance with the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017, all purchasers are required to complete identity verification checks via a third-party provider. A fee of £48 inclusive of VAT per buyer is payable once an offer has been accepted. This fee is non-refundable and completion of checks is required prior to progression of the sale.