UNISEX HAIR SALON CLOSE TO NEW FOREST

0 Sq Ft
£27,500
  • Ref: HW1551
  • Type: Hairdressers
  • Availability: For Sale
  • County: Hampshire
  • Make Enquiry

Property Features

  • NEW LEASE AVAILABLE: ANNUAL RENT c.£10,000
  • 6 CHAIRS; 2 BACK-WASH
  • WEEKLY SALES AVERAGE £1,700
  • RETIREMENT SALE

Property Summary

HW1551

ESTABLISHED UNISEX HAIR SALON
SOUTHAMPTON SUBURB CLOSE TO NEW FOREST
NEW LEASE AVAILABLE: ANNUAL RENT c.£10,000
6 CHAIRS; 2 BACK-WASH
WEEKLY SALES AVERAGE £1,700
RETIREMENT SALE

LOCATION:

The salon operates from contemporary premises in a purpose-built community centre constructed in 1991 on the edge of The New Forest in the Southampton suburb of Totton. Tesco Express, a laundrette, greetings card shop, Pharmacy and both Chinese and Indian Takeaways occupy adjacent premises generating regular, local passing trade. There is also a Community Centre and a Church with ample parking in front of the shops plus a larger car park to the side of the Community Centre.
Situated on the River Test, the area has a long history of shipbuilding but also maintains strong links with the Forest. Until the 1950s New Forest ponies used to roam freely around the town. In 1974 Eling Parish Council became Totton & Eling Town Council due to the increase in size of Totton town. A tide mill has existed here for centuries and is mentioned in the Domesday Book. It was built for milling the local flour and is still producing today; one of a few such mills in Europe and a favourite tourist attraction. Next to the mill can be seen wharfs where once ship building thrived but is now owned by timber merchants and light industry, while Eling Creek is a popular place for the mooring of private boats. The Anchor Inn, which stands on the wharf, is a popular stop off for those sailing in Southampton Water.


BUSINESS:

The salon opened in 1991 when the Community Centre was built and has been in the same hands ever since. An independent Unisex hair salon, it enjoys a loyal following built over the past 31 years. Operating from modern ground floor premises in the purpose-built Community Centre with adjacent retail units which attract a steady flow of local residents. The salon's clientele includes not only local but also regular clients who supported the vendors' previous salon in Eastleigh.

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

The fully-glazed, maintenance-free frontage measures 12' 9" (3.9m) in width with a single casement door. The internal depth of these air-conditioned, ground floor premises measures 36ft 10ins (11.2m) offering approximately 500 sq ft (40sq m) of net internal space with a laminated cushion floor under a suspended ceiling with fluorescent light diffusers. There is a Customer Reception desk with a customer seating area. There are 6 dressing stations, 2 recently upgraded back-wash units and 3 free-standing hooded driers with seating under. To the rear of the salon are a toilet and a fitted kitchen/staff rest room measuring approximately 8'6" x 8'8"/2.8m x 2.4m. The kitchen is equipped with a Bosch washing machine, a Beko fridge, a microwave oven and a Worcester condensing boiler supplemented with a hot water storage tank housed in the ceiling void above. The salon benefits from a gas-fired central heating system.
Note:
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

TENURE:

This is a leasehold opportunity for which the existing lease expired in March 2016. The lease is an Internal Repairing lease protected within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £8,400 per year with 5-yearly rent reviews in place. We understand the Landlord will be seeking rent of £10,000 per year for the new lease. Annual service charges of approx. £439 are payable for maintenance of the common areas.
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 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:

The rateable value of the business premises is £7,000 therefore zero rates are payable for 2022/23.
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.


OUTSIDE:
Tesco Express, a laundrette, greetings card shop, a Pharmacy plus Chinese and Indian Takeaways occupy adjacent premises generating regular, local passing trade. There is also a Community Centre and a Church with ample free parking in front of the shops plus a larger free car park to the side of the Community Centre.

SERVICES:
The vendor advises that all main services are connected to the property including gas, electricity and mains drainage.

TRADE:
Accounts for the trading years ending 31 March inspected by Adams & Co provide the following financial history

YEAR TURNOVER GROSS PROFIT ADJ. NET PROFITS
2022 85,551 34,187 19,786
2021 (Covid) 37,823 29,629 15,857
2020 (Covid) 84,866 12,173 (2,181)
2019 84,217 31,191 16,450
2018 83,587 29,952 15,485
Please note that all figures exclude VAT.

HOURS:
Monday Closed
Tuesday 09:00 to 17:30
Wednesday 09:00 to 20:00
Thursday 09:00 to 17:30
Friday 09:00 to 18:30
Saturday 09:00 to 16:30
Sunday Closed

STAFF:
The vendor recently returned to work 7 hours per day, 3 days per week after a 3-year absence to cover a full-time employee on maternity leave since 1 July 2022. The vendors' daughter works 7 hrs p/day, 4 days p/w who also teaches hairdressing in the local college one day per week. 3 part-time employees work a flexible rota of 20 to 25 hrs per week, 3 or 4 days per week as required.






STOCK:

The vendor informs us that the value of the stock varies throughout the year but averages £1,000

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:

The vendors now wish to retire and enjoy travelling the UK in their motorhome. Their daughter decided not to take it on due to her own growing family commitments. This is an ideal opportunity for an experienced stylist to take ownership of their first salon and build on the solid foundations laid down by the vendors. Their daughter is keen to stay on and would consider a managerial role under the new owner if required.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

LOCAL AUTHORITY:

New Forest District Council: Telno 023 8028 5000

INTERNET:
Potential buyers wishing to find out more about the surrounding areas are invited to 'search' under 'Totton', where numerous sites are available for perusal, or specifically go to 'upmystreet.com' and use the post code 'SO40'.
VIEWING

If you wish to discuss this business opportunity in greater detail, or arrange an appointment, please call Nick on (023) 8025 3910

PLEASE DO NOT MAKE CONTACT DIRECTLY WITH THE BUSINESS