Beauty Salons for sale in Yateley

View the "UNISEX HAIR SALON IN YATELEY NORTH HAMPSHIRE" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

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S Martin (Feb 2013)
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Leasehold Price: £55,000 Annual Turnover: £144,709 Annual Gross Profit: £131,527 Annual Net Profit: £42,757
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Business Description
LOCATION:

The business trades in a parade of community shops in the centre of an attractive, private residential housing estate in Yateley, in the district of Hart in north-east Hampshire close to the Surrey/Berkshire borders. According to a report broadcast by the BBC in December 2011, Hart District was named as the UK's most desirable place to live. Quoting the annual study conducted by The Halifax, Hart has been named as having the highest quality of life. The Halifax study took into account factors such as jobs, housing, health and crime as well as weather, traffic and broadband access. The survey found that 95% of people in the local authority area of Hart were in good health and they tended to have incomes 40% above the national average. Hart District Council's website describes it as a 'picturesque area of gentle rolling wooded countryside, which takes its name from the River Hart flowing through its centre'. Predictably, therefore, moving to the area is not cheap. According to the September 2015 Land Registry House Price Index the average price of a semi-detached house in the United Kingdom is £176,024 compared to £256,737 locally. A spokesman for Hart District Council said many who live in the area are commuters, travelling into London or Basingstoke. The journey from Fleet, the council's best-known town, into Waterloo Station takes less than an hour, with trains taking as little as 44 minutes to get into the capital.

BUSINESS:

We are delighted to offer for sale, this established, well-presented, contemporary unisex Wella Professional hair salon. With 10 dressing stations and 3 backwash units, this fully-equipped salon also includes 2 ClimaZone and 5 wall-mounted Futura dryers. There is a separate treatment room currently used for Shiatsu Head & Shoulder massage treatments with Reiki Holistic Therapy to be introduced soon. Included in the lease is a self-contained 2-bedroom flat on the first floor which is currently let, generating an annual income in the region of £7,200. The net rent payable for the salon is approximately £7,800. The vendor, who wishes to retire, now works only two days, a week looking after 10 clients. In her absence, the salon is managed by a senior staff member. The salon offers Gellux nail polishes from Salon System. An ear piercing service is also available.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
These 530 sq ft ground floor fully-air conditioned premises have a glazed frontage with a single casement door to the left hand side. The salon measures 19'3" wide x 27'5" deep including a separate treatment room measuring 8'ft 5"/2.5m square. A kitchen/staff rest area, product store, laundry with washing machine and tumble dryer and WC facilities are located to the rear. There is a rear door for deliveries and access to the car park. A single, lock-up garage in a separate block to the side of the parade is also included in the lease. The vendors currently use this for additional storage.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)

There is a self-contained residential flat on the 1st Floor offering 2 bedrooms, lounge, bathroom and kitchen. The flat is currently let for £600 per month.

OUTSIDE:

The premises are in a parade of community shops including a Chinese restaurant, video shop, off-licence, veterinary surgery and dental surgery. There is ample free off-road parking.

TENURE:

This is a leasehold opportunity with a 12 year lease in place which expires in December 2017. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £15,000 per year including the first floor flat which is let at £600 per month. There are 4-yearly rent reviews with the next review due in 2017.
Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:
The rateable value of the business premises is £4,400 and as this is below the £6,000 rateable value threshold no rates are payable for the year 2015/16. The domestic accommodation falls into Band A for council tax purposes.
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 all main services are connected to the property.

TRADE:
Accounts inspected by Adams & Co show turnover of £144,709 with gross profits of £131,527 (91%) and adjusted net profits of £42,757 for the year ended 31 March 2015. This compares favourably with adjusted net profits of £38,312 for the previous year. Installed in May 2013, the Shortcuts Management Software system records every employee's takings and tracks commissions earned. Serious buyers are invited to interrogate the management system as part of their Due Diligence process.
Please note that if a business is VAT registered, all figures exclude VAT.

HOURS:

Monday Closed
Tuesday 0900 to 1930; (1730-1930 Mens' Night)
Wednesday 0900 to 1730
Thursday 0900 to 1800
Friday 0900 to 1730
Saturday 0830 to 1500
Sunday Closed

STAFF:

The vendor works two days per week supported by her Salon Manager who works 5 days per week for a total of 32 hours; there are also two full time stylists each working 39 hours, 5 days per week with a 4th employee working 4 half days for a total of 18 hours per week.

STOCK:

The vendor informs us that the value of the stock is approximately £3,500

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:

The vendor now wishes to retire creating an exciting opportunity for anew owner to build on the solid foundations laid down over the past 36 years of ownership.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
Tenure: Leasehold

Location Details:

The business trades in a parade of community shops in the centre of an attractive, private residential housing estate in Yateley, in the district of Hart in north-east Hampshire close to the Surrey/Berkshire borders.

Leasehold Term:

This is a leasehold opportunity with a 12 year lease in place which expires in December 2017. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £15,000 per year including the first floor flat which is let at £600 per month. There are 4-yearly rent reviews with the next review due in 2017.

Listed by: Adams & Co
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