Launderette In SW London For Sale

Business description

Main road site in busy residential letting area. Well est on site. 17 washing machines and 9 dryers. Rent income from 3 bed flat above £19,800 pa. Overall rent £22,500 pa. Worth viewing.

Property information

Property:

Leasehold

Living accommodation:

Accommodation Included

Location:

Location
Busy residential area in SW London with a high density of let properties. Sited on a main road close to many shops with easy access from public transport.

Business
Launderette operating with 17 washing machines plus spinners and dryers has been run by the current owner for the past 6 months although established on this site for the past 20 years. The reason that this business has become available for sale is due to the travelling difficulties of the seller. Previous owner is a launderette engineer who still stores his tools on site and therefore is regularly available to maintain all the machines.

Advised turnover c£1300 per week with potential to increase with the new introduction of service washes. The owner has also recently installed an industrial ironing table for pressing shirts which is taking £50 per week and increasing.

Hours
7am - 7pm Monday to Saturday. Sunday 7am - 5.30 pm.

Staff
Two members of staff with a wage bill of c£285 per week.

Premises
Ground Floor and Basement lock up shop with glass frontage.
Ground Floor: Front reception desk behind which is the ironing table. Machines to the rear.
Basement: Accessed via internal stairs housing boiler, tank and storage area.

Equipment
Washing Machines: 1 Ibso 40 lb, 1 Ipso 35lb, 2 Ipso 30lb, 2 Electrolux 35lb, 2 Electrolux 16lb, 9 Electrolux 14lb.
Dryers: 9 Speed Wyn dryers. 2 Spinning machines.

Accommodation:
3 Bedroom flat (Unseen by Adams and Co). Rented on an AST (Assured Tenancy Agreement) with a rental income of £19,800 per annum.

Tenure
10 years remaining on lease.(2009) Rent inc.shop and accom. £22,500 per annum. Next rent review 2011. Rates tba.