Post Office Walk

TOWN CENTRE HAIRDRESSING SALON located close to the MAIN BUS STATION, CAR PARKS & SHOPPING CENTRE on the ESSEX/HERTS BORDER. The business has been ESTABLISHED 45+ YEARS that has been operated under the SAME OWNERSHIP FOR 25+ YEARS and has now come to market with a GENUINE REASON FOR SALE due to retirement. Our client has built up a HIGHLY ENVIABLE REPUTATION with a LOYAL & REGULAR CLIENTELE and a 3500+ DATABASE. A stockist of well-known brands such as RedKen, Paul Mitchell, GHD & Goldwell the business offers a variety of traditional hair salon services. Currently arranged as 13 x CUTTING STATIONS & 5 x BACK WASH BASINS over 2 floors we feel there is HUGE SCOPE to further increase revenues as there are NO BEAUTY SERVICES being offered. The premises benefits from LOW OVERHEADS with ZERO BUSINESS RATES PAYABLE so an EARLY VIEWING IS ADVISED. Cost of Stock to be paid on Completion. REF: 257463

Tenure

15-year lease from 1 November 2022 at a commencing rental of £14,400 per annum exclusive.

Exterior Front

A well-appointed two storey terraced premises benefiting from a wood-framed type shop front and a fully glazed signed display window to the right-hand side of a wood-framed and part-glazed single door entrance into the salon. The exterior also has an extending canopy with a fascia board directly above with decorative topiary planters and wall-mounted spot lights.

Salon Ground Floor

SPLIT LEVEL (UPPER) is arranged as a customer seating/waiting area equipped with fitted retail display stands, a gown cupboard, a reception/till serving station with a door directly behind to an OFFICE. SPLIT LEVEL (LOWER) tastefully decorated, open-plan with a suspended ceiling, solid wood type flooring throughout, spot lights and a heating system currently arranged as 7 cutting stations with wall-mounted mirrors, 2 x Hair Masters and 3 x backwash. A door towards the rear provides rear access.

Salon, First Floor

Large open space currently arranged as 6 cutting stations, again with wall-mounted mirrors, 2 x backwash and 2 x Hair Masters. We understand the landlord has granted permission for this space to be sectioned off to provide beauty rooms which we feel will significantly increase revenues. Within the first floor there is a door which provides access to a COLOUR ROOM, a separate door leading to internal doors to TOILETS and a separate STORE ROOM. Towards the rear of the premises is a door providing access to a STAFF ROOM with kitchenette facilities, fitted with commercial washing machine, tumble dryer and with a door providing access to a balcony and stairs for a rear access.

Staff & Trading Hours

Vendor works full time and is assisted by 3 full-time members of staff, 2 part-time members of staff and 1 part-time bookkeeper and receptionist. Monday, Tuesday, Wednesday 9 am until 5 pm. Thursday and Friday 9 am until 7 pm and Saturday 9 am until 4 pm.

Turnover

Turnover on the latest set of accounts show net sales of £141,929 with a gross profit margin of approximately 51% yielding ADJUSTED NET PROFITS OF APPROX £33,000. Full financial information will be made available at our client's discretion on or after a meeting.

Business Rates

The premises are subject to a rateable value of £7,500 resulting in zero business rates payable.

Legal Costs

Each party are to be responsible for their own legal costs incurred in the transaction, with the landlord's reasonable legal costs to be split 50/50.

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.