Price: £79950 +sav

Surely one of the best salons for sale in the area

Ref: C 889

Tenure: Leasehold

We are delighted to offer this high quality hair and beauty salon which is located close to the heart of the city in a busy location within a minute or two’s walk of the prime shopping area.  The salon has been operating for many years and enjoys a substantial turnover part of which is derived from  ‘two rent a chair’ stylists. The salon is arranged over two main floors with the second floor being fitted and used as a beauty treatment room which is rented out at around £6000 pa.  The premises have been fitted out to a very high standard throughout and are air conditioned and centrally heated. Salons of this calibre are quite rare so we strongly recommend an early viewing to appreciate the quality of this business.

ACCOMMODATION ( note, all dimensions are approximate )

Ground Floor

Salon approx 35 sq m  having 2 back wash positions each with electrically operated chairs, 6 styling positions, Climazone machine, attractive curved reception desk with computerised booking system and payment recording, coffee machine, tiled floor, cupboard housing service meters, product display unit.

First Floor

Salon approx 42 sq m having 2 back wash positions each with electrically operated chairs, 6 styling positions, teeth whitening machine, small storage cupboard, tiled floor.  Walk in stock room with shelved walls.

Staff  Room approx 3 sq m having stainless stell sink unit, gas central heating boiler, washing machine and tumble dryer, wall cupboard, coffee machine.

WC facitities with low level wc and wash basin.

Second Floor

Beauty Treatment Room approx 25 sq m. This room has been fully equipped by the current therapist although there is a wash basin and radiator installed.

RATES

The premises are listed as having a Rateable Value of £16,000.rates payable for 2017 / 2018 prior to any relief would be £7456 however small business relief should be available to most occupiers. Interested parties should check these details with City of York Council prior to proceeding.

LEASE

The premises are held on a 9 year renewal lease on fully repairing and insuring terms from 24/6/16 at a rent currently of £19,000 pa rising to £20,500 pa from 24/6/19.

BUSINESS

Accounts for year ended 31/10/2016 show sales of £133,388 plus an income of £48,325 from chair rental giving a turnover for the year of £181,713.After excluding depreciation, we calculate that the adjusted net profits are around £56,700. Currently, the business is run as a Limited Company with two Directors one of whom would ideally like to remain on a rent a chair basis if possible, plus there are 6 staff, being a full time manager /stylist, one full time and one part time stylist, 1 part time receptionist and 2 part time trainees.  The business has recently signed a five year agreement with L’Oreal to promote their products in return for which they receive an additional 5% bonus of the sales figure if targets are met. We understand that these targets are usually exceeded, thus this contract brings in useful additional income. Full accounts information is available to genuinely interested parties after having viewed the business.

COSTS

The landlords reasonable legal costs involved in assigning the  lease will be split 50 /50 between vendor and purchaser.

PRICE

Around £79,950 + sav.

Viewing
By arrangement with The Agents on 01904 794812.
Important
Where staff are employed in a business, it is possible that they are unaware of any impending sale, therefore it is essential that all viewings are arranged through us and no direct approaches should be made under any circumstances.
Vat
All prices and rents are deemed to be exclusive of any VAT which may apply.
Note
Details and general information provided within these particulars have been confirmed by The Client, are given in good faith and are believed to be correct, however all proposed purchasers/tenants must satisfy themselves as to the correctness of the information provided. We understand that all services and items of equipment are in functional order, but no warranties can be given in this respect. Neither the agents nor any person in their employ bind themselves in any way, nor are any warranties given as to the correctness of the information provided. No part of these particulars form part of any contract or agreement for sale or lease

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