SOLD – Well Established Gallery And Online Art Business, Glasgow

Leasehold £49,000

SOLD - Similar Businesses Required

This is a unique opportunity to acquire one of the leading galleries of Scottish art holding Scotland's largest collection of original works with over 1,000 paintings for sale.

Gross annual sales of £300,000 with average net commission over the last 3 years of £128,000.

Sales mainly on a commission basis though some sales of gallery bought art. Very well established on-line presence generating over 40% of sales online and over 8,000 monthly website visitors.

www.scotlandart.com

Business, leasehold interest, fixtures and fittings for sale at offers over £49,000 plus stock at valuation.

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Type of business
Established for 24 years, ScotlandArt.com is the largest gallery of contemporary art in Scotland. Its sales arise approximately 60% from the gallery and 40% from online sales. The business sells worldwide and offers free global shipping. Only offered for sale due to the current owner’s wish to retire this is an excellent opportunity to acquire a very well established and respected unique business in attractive premises. It is ideally suited to an owner manager with a keen interest in art. As well as sales the gallery also leases art to companies wishing art for their premises and provides short term leases to media and film production companies.
Opening hours
11am - 6pm Monday - Friday, 10am - 5pm Saturday and 12noon - 5pm Sunday.
Staff
The gallery director does not work in the business and it is run by a gallery manager and 2 part-time staff. A handover can be provided if required.
Tenure
Leasehold. Rent £17,500 per annum. The current lease runs until 2029. Rateable value £10,800 so no rates are payable.
Premises
The premises are located in a prime highly visible site in the centre of Glasgow next door to the Glasgow Art Club. The gallery is an elevated ground floor unit extending to 84m2 (887sqft). It is a bright open plan space ideally suited to displaying art in an attractive and inviting environment. There is metered on street parking around the gallery and a large multi-storey car park nearby.
Financial information
Gross annual sales of £300,000 producing average net commission over the last 3 years of £128,000. Sales are mainly on a commission basis though some sales are art which has been purchased by the business. Stock at cost around £29,000. Further financial information can be made available to serious interested parties after viewing.