Hilton Smythe is delighted to welcome to the market Manor Laundry Centre. This is a well-established business that was originally set up in the 1980’s.
This is a popular business in the town that has much repeat custom. Our client first took over the store in 2010, but is now looking to sell the business, due to the desire to relocate back to Russia.
The business is split 50/50 between the dry cleaners and laundrette. We are advised the business generates an advised turnover of around £25,000 per annum with a gross profit of 97% as of 2015 accounts. This is a great income that could be increased in many ways.
The purchaser could look to offer a few other services in order to boost this already healthy turnover. A pick-up and delivery service would be a great service that would fit well with the trade, alterations would also be well-suited to the trade. However, key cutting and cobblers are also great extras, which could boost custom. This is a generous sized premise with potential to rent spare rooms for a further income.
The premise comes with low running costs and a low annual rent of £13,000. This includes the three bedroomed owner’s accommodation, which is located above the store. The accommodation could be let out in order to generate an extra income.
This business truly is a walk-in trading opportunity and would be perfect for a buyer looking to relocate to the area. Hilton Smythe highly advise early viewing, to avoid disappointment.
Manor Laundry Centre is located in Borehamwood, Hertfordshire.
The business is situated in the centre of a large retail parade, which boasts a range of retail outlets. On the parade is a convenience store, hair salon, barbers, café, fish and chip shop, bathroom store, charity shop and much more. These businesses benefit from parking directly outside. There are parking bays the whole length of the retail parade. This is a densely populated location with flats and houses surrounding the area.
The laundrette is close to the centre of Borehamwood, and is just a short 20 minute walk away or a 10 minute bus journey. There are several bus stops dotted around the area which have regular routes, around the town. This area is filled with many arterial roads such as the A1 and the M1 motorway, which both run across the UK.
The business is well presented with bright signage. There are large windows across the front of the store, which allow for a bright retail space.
The laundrette is open plan with six dryers and eight washing machines, lining either side of the store. We are advised the dryers are leased. Across the front of the dryers is a seating bench, used by waiting customers. Through to the rear is an ironing table and a dry cleaning machine, which is new. There are storage rails, and access to the rear yard.
On the first floor is a private owner’s accommodation, which has separate access. This includes an open plan kitchen, dining room and a large living room. There is another floor which has a family bathroom, two double bedrooms and a single which is currently being used as an office.
There is a private terrace to the rear of the accommodation. In the yard there is an outside staff toilet, and several outer buildings. These buildings have several options, such as additional work space, rented out for other use or could be demolished and replaced with a carpark for staff.
We are advised the business is Leasehold.
Original lease length: 15 years
Left on the lease as of May 2016: 13 years
Rent: £13,000 per annum
The business is open-
Monday - Wednesday: 9am – 6pm
Thursday: 9am – 5pm
Friday: 9am – 6pm
Saturday: 9am – 6pm
The business is run and managed by our client with the help of 1 member of staff.
The business generates a turnover in the region of £25,000 per annum.
With a gross profit of around 97% as of 2015 accounts.
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