Hair Salon With Flat In Sussex For Sale

Business description

GRADE II LISTED PROPERTY (AVAILABLE FREEHOLD OR WITH A NEW LEASE). Currently trading as a Hairdressing Salon situated in the town centre of a West Sussex coastal town.

Ground Floor Hair Salon. Basement store room.

First Floor comprises a two bedroom flat and a separate Bedsit.

The Flat has a bathroom (bath, w.c. and wash basin). Two bedrooms, kitchen, lounge.
We are advised the flat is currently let on an A.S.T. for a rent of £600 p.c.m. (inclusive of utility bills).

Adjoining Bedsit accomodation comprising one bedroom with a private kitchenette and shower room (with w.c. and wash basin) across the landing. This bedsit is currently vacant but has in the past been let for £60 per week.

Also on the Ground Floor there has been a section of the salon separated off to create a small self contained shop unit. Vendor advises this shop is currently let to a bookshop tenant who pays a rent of £60 per week (inclusive of utility bills and rates).

We are advised that takings currently average around £500 per week with the owner working single handed. It is considered that a younger owner with renewed enthusiasm could be able to increase the income substantially.

Total income Generated from Letting of flat and self contained shop £10,320 per annum. Which could potentially be increased by a further £3,120 if the Bedsit was re-let.

Purchase Options:-

1). Price required for Freehold Property together with goodwill, fittings, fixtures, utensils and equipment, etc:-

£240,000
STOCK EXTRA AT VALUATION

OR

2). The Vendor will grant a new Fully Repairing and Insuring Lease on the whole property, for a term to be agreed, at a commencing rent of £15,000 per annum,
exclusive of Business Rates.
On this basis the price required for goodwill, fittings, fixtures, utensils and equipment, etc:-


£10,000
STOCK EXTRA AT VALUATION

Property information

Property:

Freehold

Lease terms:

New Fully Repairing and Insuring Lease will be granted on the whole property, for a term to be agreed, at a commencing rent of £15,000 per annum, exclusive of Business Rates.

Leasehold rent:

£15,000 per annum

Other information

Planning consent:

A1

Reasons for selling:

Retirement

Trading hours:

9am to 12 noon Tuesday to Saturday