Price: £49,000 + sav
Rare, very profitable business opportunity available freehold or leasehold.
Ref: C 1030
Tenure: Freehold or Leasehold
We are pleased to offer this very profitable and long established business which is only for sale due to the impending retirement of the current owners. The business has been established for over 35 years and is run from specious and fully equipped premises fronting Yorkersgate in the heart of the delightful Yorkshire market town of Malton. The business is run by a husband and wife team with a part time assistant and is primarily concerned with the washing, drying, ironing and pressing of personal garments, bedclothes etc as well as some commercial work and of course, dry cleaning. All equipment necessary for the efficient running of the business is included in the sale and the main equipment is listed below. As a result of the owners impending retirement he is turning away considerable additional work that could readily be taken on by a younger owner so there is clearly huge further potential here.
This is an ideal and quite a rare opportunity to acquire a very profitable business for a fraction of the price it would take to fit out a unit from scratch. The premises are available either on a leasehold basis on terms to be agreed or can be sold freehold to include a 3 bedroomed maisonette above.
ACCOMMODATION
Front area having counter, large rail for garment hanging ‘Unitec’ Commercial dry cleaning machine.
Upper area being the main laundry area and having 4 commercial washing machines ( 2 x 16 lb, 1 x 20 lb and 1 x 30 lb), I spinner, 2 x 50 lb dryers and 2 x 30 lb dryers.
Rear area within modern extension having 1 35 lb washing machine, ironing table and ironing board, ‘Dummy’ steamer, Storage shelves and various smaller items.
Staff Kitchen having stainless steel sink unit, shelved walls cupboards,
Wc off with low level wc and wash basin.
There is a plant room containing a water tank , hot water heater, pumps etc.
The overall floor area taken from the Valuation Office Rating List is 82.75 sq m.
There is a self contained maisonette above comprising of lobby, hall, dining room, lounge, 3 bedrooms and a bathroom. This would be included in any freehold sale.
RATES
The premises are shown on the Valuation Office Rating web site as having a RV of £7700. Under current arrangements for small businesses, no rates should be payable however interested parties MUST check this information prior to proceeding.
LEASE
A new lease for a term to be agreed will be available on internal repairing and insuring terms at a commencing rent of £1000 per month. A rent deposit will be required, the details of which can be discussed. Alternatively the freehold can be sold to include the flat above.
BUSINESS
Accounts for 11 months 30/4/24 show sales of £55,856 . Assuming the business is run on a similar basis to existing then the adjusted net profit will be around £25,000 after allowing for rent payments. There is clear scope for increasing the levels of business by competing for commercial contracts from hotels etc Full accounts information is available on request after having viewed the business.
EPC
The laundry has an EPC rating of C
COSTS
The incoming tenant will be required to pay a contribution of £450 + vat towards the landlords legal costs involved in preparing the lease.
PRICE
Around £49,000 to include all equipment. Freehold price on request.
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
