HAIR & BEAUTY SALON IN EAST HAMPSHIRE TOWN
Price:
Leasehold - £39,950
Location:
Hampshire , Waterlooville
Business Type:
Service Businesses
DENSELY POPULATED SUBURB CLOSE TO A3/M27
LOCATED IN A SHOPPING PARADE
8 CHAIRS & NAIL BAR
2 BEAUTY TREATMENT ROOMS TO LET OUT
ESTABLISHED 7 YEARS AGO
SPACIOUS INTERIOR WITH 8 STATIONS
RENT ONLY £135 PER WEEK
SALES £1,900 PER WEEK
LOCATION:
The business trades within a shopping precinct in a densely populated residential suburb close to Waterlooville in the Borough of Havant. Waterlooville is a desirable dormitory town located just off the A3 only 8 miles north of key employers in and around the commercially vibrant city of Portsmouth. Originally known as 'Wait Lane' and only containing a handful of cottages, Waterlooville owes its real foundation to an Act of Parliament passed in 1810 authorising deforestation of the area. In 1815 it is said that Wellington's soldiers stopped for refreshment there on return from the Battle of Waterloo and thus the settlement became known as Waterlooville. Growth continued in 1897 with the advent of the Portsmouth to Horndean light railway. By the 1960s, growth was rapid. In 2003, Hampshire County Council forecast the population of the Borough of Havant to reach 117,997 by 2008. Unemployment in the area is only 1.8% with average total annual income of £21,954 (National Statistics 2004). Waterlooville is close to Butser Hill National Nature Reserve, Hampshire's biggest country park with 20 miles of trails for walkers, cyclists & horse riders. It is the highest point on the South Downs with 1400 acres of open access woodland and downland within the East Hampshire Area of Outstanding Natural Beauty.
BUSINESS:
A popular unisex hair salon established 7 years ago and operated by the Vendor throughout. The business has grown and expanded into the adjoining unit. Both units incorporate a staff kitchen/rest area and toilet facilities. The Vendor has created two beauty treatment rooms, one offering a spray tan service, in the recently-acquired second unit as well as a nail bar. The beauty treatment rooms have been let generating £100 per week. The spacious premises offer 8 stations and 2 backwash.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
A new, fully-glazed, maintenance-free, aluminium shop front was installed when the business was taken over 7 years ago. The vendor has grown the business and acquired the adjoining shop unit, converting the two units into one. The combined frontage measures 44'8"/12.4m with an internal depth of 21'/6.4m giving a net internal area of approximately 930 sq ft/87 sq m. An easy-to-clean tile-effect laminated floor has been laid throughout. The Vendor has also invested in a new boiler and central heating throughout the salon.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
OUTSIDE:
The premises are situated inside a covered shopping precinct in the centre of the town. There is free on street parking outside.
TENURE:
The premises are secured on a renewable, fully repairing and insuring 6 year lease which commenced in September 2009 at a current annual rent of £7,000. The Landlord will require a security deposit equal to one quarter's rent.
RATES:
The rateable value of the business premises is £5,900, with Small Business Rate Relief applicable, no rates were payable in 2010/11.
NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.
SERVICES:
We understand from the vendor that other than gas, all main services are connected to the property.
TRADE:
Accounts and VAT returns inspected by Adams & Co for the year ended 31 March 2011 show turnover of £101,774 with gross profits of £78,054 (77%). The vendor's own weekly sales record sheets show sales of £62,697 for the 33 week period 03/04/11 to 20/11/11, a weekly average of £1,900 ex vat showing the consistent strength of this business during a difficult trading period.
Please note that if a business is VAT registered, all figures exclude VAT.
HOURS:
Monday Closed
Tuesday 09.00 to 17.00
Wednesday 09.00 to 20.00
Thursday 09.00 to 20.00
Friday 09.00 to 17.00
Saturday 08.30 to 16.00
Sunday Closed
STAFF:
The Vendor works 31 hours over 4 days per week supported by 2 qualified stylists and one trainee working 5 days per week. There is one part time employee on maternity leave and a Saturday Girl. 2 summer staff departures resulted in lower annual wages to be reflected in accounts for year ending 31 March 2012.
STOCK:
The vendor informs us that the value of the stock is approximately £5,000.
LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.
COMMENTS:
Changed family circumstances have led to the sale. An exciting opportunity now exists for a qualified stylist to acquire an established and profitable community salon, building on the solid foundations laid down by the vendor over the past 7 years. The Vendor would be happy to work for the new owner. Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
The premises are secured on a renewable, fully repairing and insuring 6 year lease which commenced in September 2009 at a current annual rent of £7,000. The Landlord will require a security deposit equal to one quarter’s rent.
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