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DERMALOGICA BEAUTY SALON IN COMMUNITY PARADE

600 Sq Ft
£28,950
  • Ref: HW1547
  • Type: BEAUTY
  • Availability: For Sale
  • County: Hampshire
  • Make Enquiry

Property Features

  • SOUGHT AFTER HAMPSHIRE/SURREY BORDER TOWN
  • RECEPTION AREA WITH TWO NAIL STATIONS
  • 3 WELL-PRESENTED TREATMENT ROOMS
  • QUALIFIED, EXPERIENCED STAFF
  • ANNUAL REVENUE £100,000+
  • NEW LEASE AVAILABLE

Property Summary

DERMALOGICA BEAUTY SALON IN COMMUNITY PARADE
SOUGHT AFTER HAMPSHIRE/SURREY BORDER TOWN
RECEPTION AREA WITH TWO NAIL STATIONS
3 WELL-PRESENTED TREATMENT ROOMS
QUALIFIED, EXPERIENCED STAFF
ANNUAL REVENUE £100,000+
NEW LEASE AVAILABLE

LOCATION:

The business trades in the centre of a town in the Hart District, an area which lies in the north-eastern corner of Hampshire. For five years running (2011-2015), an annual study conducted by the Halifax bank named Hart as the UK's most desirable place to live for quality of life. The Halifax study took into account factors such as jobs, housing, health and crime as well as weather, traffic and broadband access. The survey found that 95% of people in the local authority area of Hart were in good health and they tended to have incomes 40% above the national average. Hart District Council's website describes it as a 'picturesque area of gentle rolling wooded countryside, which takes its name from the River Hart flowing through its centre'. Predictably, therefore, moving there is not cheap. According to Rightmove the average house price in the area is £487,561, which is nearly double the average price in Britain of £268,731. A spokesman for Hart District Council said many who live in the area are commuters, travelling into London or Basingstoke. The journey from the council's best-known town into Waterloo Station takes less than an hour, with trains taking as little as 44 minutes to get into the capital.

BUSINESS:

This Dermalogica beauty salon has been trading from the same high-visibility site for the past 17 years. In that time, the business has built up a loyal, repeat client base. The current owner bought the salon as a going concern 7 years ago and adopts an holistic approach to beauty treatments. The salon makes good use of Facebook for promotions and invested in Phorest beauty salon management software for POS, appointments, staff rostering, online bookings and financial reports. With a growing family demanding more of her time, the vendor has reluctantly decided to offer her popular, well-presented salon for sale.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)

The 600 sq ft/56 sq m premises measure 50 ft/14.3m divided as follows:
Reception/Nail Stations 18'6"/5.6m x 12'8"/3.9m
3 x Treatment Rooms 10'/3m x 8'/2.2m average
Store Room 7'/2.2m x 5'/1.6m
Staff Kitchen & WC
Door to rear with parking
Wall-mounted electric heaters throughout
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:
(all sizes are approximate & should be considered 'nominal'.)

There is no private accommodation included with this opportunity

OUTSIDE:

There are a number of community shops and services close by including a Barbers, Unisex hair salon, a Butcher's, Jewellers, Estate agents, restaurant, fast food outlets and petrol station attracting significant passing trade.

TENURE:

This is a leasehold opportunity with a 6-year lease which expired on 30 June 2020. The vendor is operating on a Continuation Tenancy with a new lease to be offered to the buyer subject to status. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £11,000 per year. There are 3-yearly rent reviews with the next review due as part of the granting of the new lease. Quarterly service charges are payable with £152.92 invoiced for one 2021 quarter inspected by Adams & Co. Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 6 months dependent upon quality of references and status of the buyer.
RATES:

As the rateable value of the business premises is £10,561
and falls below the rateable threshold, zero rates were
payable in 2021/22.
NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

SERVICES:

We understand from the vendor that electricity, mains water and drainage services are connected to the property.

TRADE:

VAT returns submitted to HMRC from 1 January to 31 December 2021 confirm sales of £94,331. Accounts inspected by Adams & Co for 2019 show sales of £134,035 with gross profits of £116,123 (87%) Coronavirus Lockdown measures impacted sales for the years ended 5th of April 2020 and 2021 with annual sales of £108,289 and £36,435 respectively reflecting the impact of 8 months of closures. Management Accounts inspected by Adams & Co covering 1 April to 31 December 2021 show 9 months' sales of £82,009 with gross profits of £75,583 (92%) confirming a return to normal business levels.
Please note that if a business is VAT registered, all figures exclude VAT.

HOURS:

Monday Closed
Tuesday 10:00 to 19:00
Wed/Thurs 10:00 to 20:00
Friday 10:00 to 18:00
Saturday 09:00 to 16:00
Sunday Closed

STAFF:

The Vendor only generates 20% of revenues with the balance from her experienced, well-trained team of two full-time members working 36 ½ hours, 4 ½ days per week (with alternate Saturdays) and two part-time staff members working 16 hours 3 days per week.

STOCK:

The vendor informs us that the value of the stock varies throughout the year but is highest in July/August at approximately £5,000.

LEGAL FEES:

Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.

COMMENTS:

With a growing family demanding more of her time, the vendor has reluctantly decided to offer her popular, well-presented salon for sale creating an exciting opportunity for a hands-on experienced beauty therapist to build on the solid foundations laid down over the past 17 years.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.