Hairdressers Salons for sale in Lymington

View the "STYLISH HAIR SALON PRIME LOCATION IN LYMINGTON" below and request further details. Alternatively, please view the similar businesses in the 'You May Also Like' box below.
 

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Polly Franey (July 2015)
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Leasehold Price: £9,950 Price Reduced Annual Turnover: £68,000 Annual Gross Profit: £62,645 Annual Net Profit: £28,000
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Business Description
LOCATION:

Situated in the centre of the charming, affluent coastal town of Lymington, this hairdressing salon is conveniently located between M&S and Waitrose and close to local restaurants and coffee shops. There is parking outside the shop and a large public car park behind M&S. A beautiful, Georgian market town, Lymington (population 14,330) is situated on the southern edge of the New Forest, between Southampton and Bournemouth and at the western end of the Solent. The town is world renown as a sailing resort with two large marinas Berthon and Haven and two sailing clubs RLYC and Lymington Town. There are numerous interesting independent shops including some designer boutiques. On Saturday a market is held in the High Street, the origins of which probably date back to the 13th century. At the top of the High Street is the Parish Church, St Thomas Church which dates from circa 1250. A cobblestone road leads from the bottom of the High Street down to the Old Town Quay, which is still used as a base by commercial fishing boats. The town is surrounded by outstanding natural beauty with the ancient woodlands and heathlands of the New Forest to the North which cover an area of about 145 square miles. To the South is the Solent and the Isle of Wight. Wightlink operate a car ferry from Lymington to Yarmouth. With numerous places to visit, to suit every taste and all ages, the area enjoys a considerable tourist trade.
BUSINESS:

The salon is part of a small Group of salons operating in Hampshire. For management reasons, the vendors are looking to reduce both the number of salons and distances between them. Currently offering cutting services to Men and children approximately 50% of revenues are generated from men with approximately 40% from children accompanied by their Mothers. The balance of revenue is from older children calling in unaccompanied after school. There is a significant opportunity to expand the services to include ladies' hairdressing.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)

The salon area is 640 sq ft/60 sq m excluding a staff kitchen rest area. There are separate toilet facilities with access for disabled customers. The children's cutting area is in a separate part of the salon.

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 no private accommodation included with this opportunity

OUTSIDE:

The salon is a short distance from both M&S and Waitrose and is close to local restaurants and coffee shops. There is parking outside the shop with a large public car park behind M&S.

TENURE:

This is a leasehold opportunity with a 12 year lease in place which expires in 2019. 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 £14,375 per year. There are rent reviews every 3 years with the next review due in 2019.
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 £16,750, with rates of £8,107.00 payable in 2016/17.
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 have financial records that show turnover for this salon to have reached £68,000 excluding VAT during the year ended 31 December 2015 with net profits of £28,000 achievable for a working owner. The current price tariff reflects the Group being registered for VAT but a new owner could decide whether to continue on the tariff or reduce prices.

HOURS:

Monday to Wednesday 09:00 to 17:30
Thursday 09:00 to 19:00
Friday 09:00 to 17:30
Saturday 08:30 to 17:30

STAFF:

The staff are retained on formal contracts and rent chairs from the owners.

STOCK:

The vendor informs us that the value of the stock is approximately £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:

This is an exciting opportunity for a full time hair stylist to acquire a beautifully presented hair salon with scope to introduce cutting services for Ladies while 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.
Tenure: Leasehold

Location Details:

Situated in the centre of the charming, affluent coastal town of Lymington, this hairdressing salon is conveniently located between M&S and Waitrose and close to local restaurants and coffee shops. There is parking outside the shop and a large public car park behind M&S.

Leasehold Term:

12 year lease in place which expires in 2019. 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 £14,375 per year. There are rent reviews every 3 years with the next review due in 2019.

Listed by: Adams & Co
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HW1490
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