Well Established Dry Cleaners South East London For Sale London, United Kingdom Advert ref: DC528CG Business description
LOCATION
Situated in a short parade of shops the business benefits from being on a main through route with bus stops nearby in a densely populated area of South East London.
DESCRIPTION
Well established traditional dry cleaners carrying out most services including alterations and repairs onsite with leather and suede cleaning sub-contracted. Equipment includes a Bowe P414 dry cleaning machine, Hoffman press, spotting table and Maytag commercial washing machine. The business has a good number of regular customers but would benefit from a marketing campaign as virtually no advertising is carried out.
REPAIRS
The business operates an in house repairs and alterations service which could easily be expanded.
THE BUSINESS
We are informed that the business is currently taking around £750 per week including alterations/repairs. Financial information will be provided to serious potential purchasers after a meeting with the vendor.
POTENTIAL
There is potential to extend the opening hours, carry out more advertising, and set up satellite receiving shops.
REASON FOR SALE
The vendor wishes to pursue other business interests.
THE PROPERTY
Lock up shop with glazed front. Counter area with manual ticketing system, Repair area with Brother commercial sewing machine. Towards the rear of the shop is a Bowe P414 dry cleaning machine and Hoffman press, spotting table and staff area with Maytag commercial washing machine and domestic tumble dryer. There is a small basement area which could be utilised for storage.
Please note In our opinion the business could benefit from some modernisation and refurbishment, this is reflected in the asking price.
TENURE
We are informed that a new lease is available subject to negotiation. The expectation is of a ten/twenty year lease with an initial rent in the order of £7,200 per annum with rent reviews every 3 years. Purchasers may be required to provide a rent deposit of up to six months rent (subject to status).
OUTSIDE
To the rear of the property there is an enclosed garden area which is shared with the upstairs flat.
WORK IN PROGRESS
To be purchased separately at valuation.
STAFF
The business is currently owner run with part time assistance.
Property: Leasehold
Lease terms
10 year lease with rent reviews every three years
Location
Situated in a short parade of shops the business benefits from being on a main through route with bus stops nearby in a densely populated area of South East London
Expansion potential
There is potential to extend the opening hours, carry out more advertising, and set up satellite receiving shops.
Reasons for selling
The vendor wishes to pursue other business interests.
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