Established in 1937

In Naracoorte’s Retail Community the name Heards Menswear is synonymous with excellence and integrity. Established by the Heard Family and acquired in 1990 by our Vendors the long tradition of catering to a discerning market with quality brands, designs and service has been faithfully maintained. Incorporated within the business is also a uni-sex embroidering service supporting numerous businesses and entities requiring quality branding.

Premises: Located in one of the most sought after addresses for passing trade and convenience at 114 Smith Street, Naracoorte, some would argue that the precinct remains the true heart of Naracoorte. The retail premises has been designed and extended to be ideal for the display and merchandising of Menswear. The general condition of the building is very good.

Brands: The business is affiliated with Australia’s leading buying groups, Frontline Stores Australia. Accordingly Heards Menswear stocks the A-Z of leading brands covering a wide age group and from fashion to work wear.

Trading: A traditional 5 1/2 day trading business with the recent commencement of Thursday night trading available if desired. Naracoorte has unrestricted trading hours unlike so many other Cities and Towns in South Australia.

Staffing: Currently the Proprietors share some 70 hours per week and two permanent part time shop assistants share a further 50 hours.

Lease: The Lease is currently in place until 20/6/2015 with one further 3 year renewal. The current rental is set at an annual rent of $16,200.00 per annum for the term of the lease.

Financials: The FYE 30/6/2012 Turnover was in excess of $650,000.00 and the trading Statement is impressive. Genuine, interested buyers will, on signing a Confidentiality Agreement with the Agent, be supplied with the Trading Statement for the last 3 Financial Years together with the Plant Schedule and Lease Particulars.

Why Naracoorte?: Naracoorte with a town and district population of around 7,000 persons and 4,200 rateable properties in the town area is a major service town for the mid and upper South East of South Australia and the Western Border Districts of Victoria. Currently the Teys Cargill Bovine Meat Processing plant is the largest employer, however, being central to the Coonawarra, Padthaway and Wrattonbully Viticultural Districts there is a very significant labour and service force domiciled in the township with a regular disposable income. With the Naracoorte World Heritage Caves complex attracting upwards of 100,000 visitors per year coupled and the natural beauty of the South East tourism is having an ever larger impact on the local economy. The universal interest for townsfolk and visitors alike is fashion and the business has grown in lockstep with the local economy. Be part of the future and call the Agent now.

Price:
A realistic $280,000.00 for the Business
+SAV $200,000.00 (est.)