Established Wig Shop In Busy Shopping Hall For Sale

Business description

Very established wig & hairpiece boutique in the newly rebuilt Romford Shopping Hall

Property information

Property:

Leasehold

Lease terms:

The business has a 1 week rolling licence agreement which commenced on 6th August 2008. The landlord has agreed to let the owner transfer the licence to a new owner as long as the business is sold with its existing use as a wig shop. The current rent is £11,362 pa (£218.50 pw) and electricity costs are approximately £29 per month.

Leasehold rent:

£11,362 per annum

Location:

Romford is a busy market town within the London Borough of Havering. It is located in East London and has been part of Greater London since 1965.

The shopping area in Romford grew up around the original market place on the line of the old Roman road from London to Colchester. It is now a highly successful retail town with three major shopping centres and the market which has existed since 1247. This has recently been rebuilt into a state-of-the-art market hall known as Romford Shopping Hall, which has however stayed true to the spirit and tradition of the market for the small independent trader.

Premises details:

Grand pilasters at the entrance lead into the light and airy market hall with large roof lights over a central atrium and escalators from ground to first floor. The effect is traditional but also modern.

This business is located on the first floor of the market and close to the large public car park. The property, which has a glass frontage and signage above, is situated at one end of a row of shops. The business has traded at this location since July 2008, before which it was located in the old Romford market. The retail units are of high quality built by craftsmen from Italy.

We are advised that the internal area is 170 sq ft comprising the shop and stock area. The shop is open plan and fully equipped with chairs, mirrors, counter, shelving, and wire panel displays which are on the back and right hand walls. Behind the cashier counter is a small stock room.

Size in square feet:

170

Other information

Reasons for selling:

This is a retirement sale. The business is very established and has built a loyal following of regular clients since it opened over 20 years ago. It is also well known within the local hospitals and hospices. Its year end turnover for 2008 was £26,639.63 net of VAT and the turnover has historically been in the region of £40,000. There is potential to increase takings by opening 6 days instead of the current 4 days. This would suit an individual or couple, preferably who have experience of hairdressing or wig fitting or who are willing to learn this rare skill. This is a unique opportunity to acquire a business which offers a valuable and treasured service to a considerable audience.

Trading hours:

The business is currently open 4 days a week on Tuesday (9.30am - 4pm) and Wednesday, Friday and Saturday (9.30am - 4.30pm).