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Retail premises for sale in Colchester, Essex CO2 - Zoopla

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Retail premises for sale
Colchester, Essex CO2
£60,000
  • Leasehold
  • Open to negotiation, Profitable and well established traditional dry cleaners with loyal clientelle
  • Turnover of £107,598, potential to increase with additional advertising
  • Genuine potential to increase income, Van included in sale
  • Family run business, retirement sale, viewing recommended
 

Description

Reference - 47287

Description
Well established traditional dry cleaners situated on one of the main roads within a popular Essex town close to main high street and opposite a bus station. The town centre benefits from heavy footfall from both the adjacent shops and well populated residential area which has been a large increase in the number of new houses and apartments being built in recent years.

The business was purchased by our clients 14 years ago having worked for the previous owner and provides a high quality finish. The business has therefore gained an excellent reputation for customer service and reliability under the current ownership although still offers genuine growth potential for any new owner.

Under the current ownership, the business works with a number of funeral directors although there is no formal contract in place. A limited collection and delivery service is also carried out twice a week to area’s locally and also further afield.

A modern, energy efficient dry cleaning machine was installed in c. 2014 at a substantial cost although it has allowed the business to accept certain items that require specialist cleaning that other dry cleaners within the town are unable to accept. We have also been advised that a couple of the large department stores also recommend the services of the business being offered for sale due to retirement.

In our opinion this traditional dry cleaners could increase the income by opening earlier and later to cater for the many commuters within the area and by also working with the hotels many restaurants that are within the town centre.

Accounts
Accounts to the year end 31.03.17 show an income of £126,481 with high net profits in excess of £40,000 per annum

Trading Hours
Monday to Saturday 08:00 to 17:00
Wednesday 08:00 to 14:00
Closed Sunday & Bank Holidays

Staff
The business is owner run by a husband and wife team.

Building Internal
The business has a light and airy customer reception with modern Epos till system. Ample storage and hanging rails to the rear along with a modern Dane Realstar dry cleaning machine, poly bagger, two Fimas pressing tables and spotting table which are included within the sale price.

Building External
The business operates from the ground floor of a two storey mid terraced building on one of the main thoroughfares amongst independent operates and national chains. The business also benefits from highly visible signage.

Residential Accommodation
There is no residential accommodation for owners/management available.

Tenure
We are advised that the property is held on a 15 year lease which commenced in 2002 and is currently running on a rolling lease arrangement with the landlord. The rent is currently £12,000 per annum. Rent reviews are every 5 years.

The vendors have been in communication with the landlords who have advised verbally that they are prepared to grant a new lease to approved candidates with full terms to be negotiated.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

Summary
This is an ideal opportunity for a hands on, energetic family to build upon the reputation gained under the current ownership or an existing operator who is looking to expand a portfolio. A viewing is highly recommended to fully appreciate the town centre location, condition and overall business opportunity. View more View less
Kings Business Transfer
01772 913303
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   STUDENT
UKInternational LOCATION:
ALL Detached Attached Bungalows Park Homes Flats Land Newbuild
KEYWORDS:
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