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LADIES HAIR SALON IN FAREHAM
Price:
Leasehold - £19,950
Location:
Hampshire , Residential suburb, Fareham
Business Type:
Service Businesses
LOCATION:
The business trades from premises that form part of a single storey commercial parade in the heart of the sought after residential area of Fareham just off the M27 at Junction 11. The market town of Fareham lies in the south east of Hampshire between the cities of Southampton and Portsmouth roughly in the centre of the South Hampshire conurbation. To the south of the town lies Gosport, to the east Portchester, to the north the M27 motorway. Westwards lie Titchfield, Locks Heath, Warsash and Whitely. Fareham traditionally relied on its clay soil for industry, producing bricks, tiles and chimney pots. The most famous example of a building constructed of "Fareham Red" bricks is probably the Royal Albert Hall in London. The main economic activity in Fareham is now retail, employing 15% of the local population. Fareham has also become a popular choice for the location of business call centres; several of the UK's major banks have offices in Fareham and Adecco, the recruitment agency, claims Fareham as the second best call centre location in the UK. Fareham is situated at the north-west tip of Portsmouth harbour where the River Wallington joins. Small industries still operate, reflecting Fareham's maritime past. HM Royal Navy operate in Fareham with the Maritime Warfare School, HMS Collingwood, training well over 2,000 British and foreign sailors at a time.
BUSINESS:
A well-established traditional ladies' hair salon, the business was launched by the Vendor's mother over 50 years ago. The business has traded from the same site throughout and has built up a valuable, loyal following.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The single-storey, flat-roofed, brick built premises form the end unit of a small parade of community businesses with the benefit of a parking space to the side of the building. The maintenance-free, glass and aluminium frontage measures 17'8" (5.4m) with an approximate internal depth of 30' (9.2m) offering an overall useable internal area of 520 sq ft (49 sq m). The flooring is laid to vinyl tile with painted wall surfaces and part glazed-tile splash-backs at the backwash station. There are 8 dressing stations, 2 back-wash stations and one front-wash station. In addition to various chairs and tables, 6 hooded dryers are included in the sale.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
OUTSIDE:
There is free on-road parking and a parking space to the side of the premises.
TENURE:
Leasehold. The Vendor owns the freehold and will offer the buyer a new lease on favourable terms at an opening annual rent of £9,000
RATES:
The rateable value of the business premises is £6,500, with rates of £2,645.50 payable (£11,212.40 net) in 2010/11. The Vendor's entitlement to Small Business Rate Relief qualified her for a 45% reduction in the rates payable.
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 are connected to the property.
TRADE:
VAT returns inspected by Adams &Co show turnover for the year to 31 July 2010 reached £91,609. Accounts inspected for the year ended 1 December 2009 show turnover of £79,116 with gross profits of £73,991 (93%).
The wage bill was £46,279. Please note that if a business is VAT registered, all figures exclude VAT.
HOURS:
Sunday/Monday Closed
Tuesday/Friday 09.00 to 17.00
Saturday 09.00 to 13.00
STAFF:
The Vendor works 22 hours per week supported by 1 full time stylist. 2 part-time stylists work 3 days per week each. There are also two shampooists; one working 9 to 1pm, 4 days per week; the other 4 x 8 hour days.
STOCK:
The vendor informs us that the value of the stock is approximately £1,000
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:
The Vendor now wishes to retire offering an excellent opportunity for a qqualified stylist to build on the solid foundations laid down over the past 50 years.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
The single-storey, flat-roofed, brick built premises form the end unit of a small parade of community businesses with the benefit of a parking space to the side of the building.
The Vendor owns the freehold and will offer a new lease to the buyer on favourable terms at an opening annual rent of £9,000
North Yorkshire
£ 750,000
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Business Services that may be of Interest:
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