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LADIES HAIR SALON IN BUSY SOUTHAMPTON SUBURB
Price:
Leasehold - £24,950
Location:
Hampshire , Parade, Southampton
Business Type:
Service Businesses
LOCATION
The business premises are located on the first floor above a Post Office. It is accessed via its own ground floor entrance and is completely independent of the Post Office. It is located at the end of a parade of community businesses including a Co-Op supermarket, a bakery, fish and chip shop and a chemist which generate significant passing trade. This popular residential suburb is located on the eastern outskirts of Southampton close to the M27.
Southampton is the regional capital of England's South Coast and with a population of 221,200 is the largest city in the South East outside London. The economy, formerly based on traditional manufacturing industries and port-related activities is now more diverse. Companies such as Royal Bank of Scotland, Ford, NXP Semi-conductors, Ordnance Survey, Skandia and Merck have headquarters in the Southampton Region. Southampton is one of Britain's most historic and successful deep-water ports; a natural choice for a wide range of customers and trades, with facilities to handle virtually any type of cargo. Its natural deep-water harbour and unique double tide allow unrestricted access for the world's largest vessels. With Europe's biggest on-water boat show - The Southampton Boat Show held annually in September, garden and music festivals - as well as excellent bars, restaurants, clubs and superb venues for music, theatre, film and recreation - there is always plenty to do. West Quay is the premier shopping destination on the South Coast, offering an unrivalled selection of retail brands located in Southampton City Centre. Choose from over 90 stores, including John Lewis and Marks and Spencer.
BUSINESS:
Established 35 years ago, this popular ladies' hair salon offers 6 dressing stations and three backwash stations with a separate beauty therapy room. It is secured on a renewable 9 year lease with a manageable rent of only £85 per week (£4,400 per year). Sales currently average £1,300 per week including revenue from the Beauty Therapy room which is offered to independent therapists for daily or weekly rental. 25% of revenue comes from Cut & Blow Dry; 25% fromWet Cuts The other half of the £1,300 per week sales come from Perms, Colours and Shampoo and Sets. Sales split is 60% cash; 40% credit card. 40% of clients are 60 years of age and over; 35% are aged between 30 and 60 with the remainer under 30. The Post Office beneath the salon attracts a steady flow of passing trade. The Vendors now wish to retire.
BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
Located in a busy parade of shops in a popular residential suburb to the east of Southampton. Ideally positioned above the local Post Office it enjoys its own independent ground floor side entrance which opens to a flight of stairs up to a 70 sq ft (9 sq m) Customer Reception area, a staff room and kitchenette with washing machine and tumble drier. There is a Beauty Treatment Room which measures 12'2" x 5'5"/3.7m x 1.7m (67 sq ft/6 sq m). The main salon area measures 14'7" x 13' (188 sq ft)/4.5m x 4m (18 sq m). Customer WC facilities are provided. The salon is illuminated by flourescent tube.
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 as well as free parking for up to 2 hours in the nearby supermarket which Adams & Co understand is to be taken over by ASDA.
TENURE:
The lease currently operates on an annual roll-over basis. The premises were previously secured on a renewable, fully repairing and insuring 9 year lease which commenced on 30/11/2000 at a current annual rent of £4,400. A new lease on favourable terms will be offered to the new owner.
RATES:
The rateable value of the business premises is under review. Rates of £314.18 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 all main services are connected to the property.
TRADE:
The Vendors' records show a consistent performance over the past two years with turnover for the year ended 31 January 2011 of £67,168 and gross profits of £62,803 compared to sales for the year ended 31 January 2010 of £68,012 with gross profits of £63,476. Annual operating costs for the business including rent, rates and wages average £42,000.
Please note that if a business is VAT registered, all figures exclude VAT.
HOURS:
Monday to Thursday 9.00am to 5.30pm
Friday 9.00am to 7.00pm
Saturday 9.00am to 4.00pm
Sunday Closed
STAFF:
One of the two Vendors works 2 days per week handling administration and accounts while the other, a Stylist works 21 hours, 3 days per week and is happy to stay on if required. There is one full time (38.5 hrs p/w) and two part time Stylists (32 hours p/w combined); two other part time assistants work 26 hours p/w between them.
STOCK:
The vendor informs us that the value of the stock is approximately £1,200
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:
Here is an ideal opportunity for a full time Owner/Manager to take over an established neighbourhood hair salon which has been in the same hands for 22 years.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.
Own ground floor entrance to first floor salon over the local Post Office
The lease currently operates on an annual roll-over basis. The premises were previously secured on a renewable, fully repairing and insuring 9 year lease which commenced on 30/11/2000 at a current annual rent of £4,400. A new lease on favourable terms will be offered to the new owner.
Monday to Thursday 9.00am to 5.30pm
Friday 9.00am to 7.00pm
Saturday 9.00am to 4.00pm
Sunday
North Yorkshire
£ 750,000
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