Well Equipped Launderette For Sale

Business description

Outstanding opportunity to acquire a fully equipped Self Service Launderette in our opinion offering tremendous potential for further increase, especially with the introduction of service washes.

The equipment includes 5-16lb NEW digital display Ipso front loading washing machines, 2-30lb Electrolux front loading washing machines, 2-35lb Ipso front loading washing machine, 3 medium gas Electrolux tumble dryers, 2 large Electrolux gas tumble dryers, boiler etc.

Property information

Property:

Leasehold

Lease terms:

We understand the premises are held on a secure renewable lease, the present lease for a period of 20 years from the 1st April, 2002 at a rental of £11,000 p.a. exclusive of rates, with rent reviews every 3 years. We understand that at the last rent review i.e. 1st April, 2008 the landlord made no request to increase the rent, the next rent review is April, 2011, with rent reviews every 3 years thereafter.

Uniform Business Rates: £2,510 p.a. + water rates (metered)

RECOMMENDED FOR EARLY INSPECTION

Location:

Situated in a parade, main road trading position, residential and commercial area, LONDON N

Other information

Expansion potential:

The vendor's operates the Launderette mainly on a Self Service basis with some service washes plus ironing and the benefit of a Dry Cleaning Agency. We are informed the turnover in respect of the Self Service Launderette during the winter months averages £950 p.w. decreasing in the summer months in respect of the Self Service Launderette to about £850 p.w. In addition there is turnover from service washes, ironing and the Dry Cleaning Agency.

Charges £2.50 per wash in respect of the digital Ipsos washing machines increasing to £3.50 per wash for the 30lb washing machine and £4.50 per wash in respect of the 35lb washing machine. The smaller tumble dryers are charged at 20p every 4 minutes whilst the large tumber dryers we understand are charged at 20p for 3 minutes.

Reasons for selling:

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £36,950 SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Trading hours:

8 a.m. - 7 p.m. seven days per week

Financing available:

SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.