HAIR & TANNING SALON IN SOUTH HAMPSHIRE
Price:
Leasehold - £54,950
Location:
Hampshire , Residential suburb, Gosport
Business Type:
Service Businesses
LOCATION:
The salon is situated in a mixed trading and a densely populated residential area of Gosport on a main bus route. The development of the town has been influenced over the years by the naval dockyard. With historical links dating back centuries, the town was limited to size in the 17th century because of the defences constructed in Charles II time. After the serious damage caused by bombing during World War II, the old Town was redeveloped in the late 1960's, with a lot of the older buildings being demolished. The Renaissance of Portsmouth and the Harbour Millennium Scheme is a new major development opportunity associated with the release of redundant military sites and will rejuvenate Gosport, providing new jobs and leisure attractions for residents and visitors. The Government has now given both Hampshire County Council and Portsmouth City Council approval to build a new tram scheme, the 'Light Rapid Transit Link'. This will connect Fareham, Gosport and Portsmouth and will provide a fast and frequent public transport service, which will operate slowly in pedestrian areas.
A tunnel under the entrance of Portsmouth Harbour will provide stops at Gosport Esplanade and the Hard Interchange in Portsmouth. Gosport's peninsular location, with 17 miles of water-frontage, offers plenty of beaches and safe swimming. The town has a wide choice of shops, places to eat, famous pubs and sporting facilities. The Esplanade with its distinctive tower block entrance to the Borough and Harbour, contrasts with the delights of the High Street area with its narrow alleys.
BUSINESS:
This established Redken hair and tanning salon has been trading on the same site for the past 50 years and has been in the same hands for the last 30 years with a loyal client base supporting the business throughout. The salon is a member of the National Hairdressers' Federation. Apart from hair and tanning machine revenues, the business is also an approved Hair Loss Consultancy. Referrals from the main local hospitals and GP surgeries brings patients suffering hair loss as a result of medical conditions such as alopecia, or undergoing chemotherapy treatments. Growing numbers of such clients visit the salon for advice on the choice of a new wig or the care and styling of an existing wig. Discreet access to a private first floor Wig Department is provided via a staircase immediately inside the entrance. The well-trained and motivated employees also generate worthwhile retail sales averaging £250 to £500 per week with computerised stock control.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
There are 8 dressing stations and 3 backwash stations on the ground floor with two dressing stations on the first floor in the Wig Department.
To the rear on the ground floor is a Staff Room/Kitchen that also serves as the Stock Room. There are separate WC facilities. A rear fire exit door leads to a single garage with Up & Over door currently used for outside storage. There is also vehicle access to the rear of the premises.
On the first floor are 2 dressing stations and sun bed room with a SunVision V Compact XL stand-up tanning unit. There is also an office (which could easily be converted for use as a beauty treatment room) with a separate store room and WC facilities.
Ground Floor
Hair Salon 40' x 13'6"(540 sq ft)/12m x 4.1m (49 sq m)
Staff Room 12' x 11' (132 sq ft)/3m x 3.5m (10.5 sq m)
First Floor
Wig Dept 14' x 11'7" (160 sq ft)/4.3m x 3.5m (15 sq m)
Sun Tan Room 8' x 6'9" (54 sq ft)/2.5 m x 2 m(5 sq m)
Office/Beauty Room 11'4"x10'9"(120sqft)/3.5mx3.3m(11sqm)
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
TENURE:
The premises are secured on a renewable, fully repairing and insuring 9 year lease which commenced in 2004 at a current annual rent of £8,400.
RATES:
The rateable value of the business premises is £7,000 with rates of £956.46 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 mains electricity and drainage services are connected to the property.
TRADE:
Accounts for the year ending 5 April 2010 inspected by Adams & Co show turnover of £133,759 with gross profits of £115,935 (87%). Management accounts inspected by Adams & Co for the six months trading period ended 31 March 2011 show turnover of £65,154.
Please note that if a business is VAT registered, all figures exclude VAT.
HOURS:
Monday Closed
Tuesday 09.30 to 5pm
Wednesday 09.30 to 8pm
Thursday 09.30 to 9pm
Friday 09.30 to 6pm
Saturday 08.30 to 4.30pm
Sunday Closed
STAFF:
The salon is run by two partners. One works as a stylist 8 hours per day for 3 days, the other covers reception 3 days per week working 15 hours. They are supported by two full time stylists one working 34 hours 4 days per week running the Wig Department, the other for 34 hours, 5 days per week. The 3 part time staff employed work a total of 76.5 hours per week between them.
STOCK:
The vendor informs us that the value of the stock is approximately £10,000
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:
One of the Vendors now wishes to retire and the other has a non-competing new business venture to pursue. This has created a rare opportunity for an experienced stylist to acquire a proven, profitable salon with huge scope for future growth, and run her own salon building on the solid foundations laid down by the Vendors.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
On a main bus route through a densely populated suburb of a busy south coast town
The premises are secured on a renewable, fully repairing and insuring 9 year lease which commenced in 2004 at a current annual rent of £8,400.
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