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Lots Of Repeat Trade And Word Of Mouth Recommendations.

Kingston upon Thames, London
Leasehold Price:
£210,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
222265
Reference
B04406 / Rightbiz

Details

BUSINESS

Hilton Smythe welcomes to the market Classic Cleaners.

Our client has owned this business for 3 years however, Classic Cleaners has been in operation for almost 50 years, providing specialist dry cleaning to individual customers, hotels and schools in the local area.

Due to the length of time the business has been trading it has built up a very loyal customer base and is always gaining new customers due to recommendations and its fantastic location.

Dry cleaning services offered include,

•Wedding dresses,
•Designer outfits,
•Curtains,
•Sofa covers,
•Hand finished laundry,

Other services offered by the business include,

•Alterations,
•On-site repairs,
•Lengthening and shortening of garments,
•Curtain relining,

Scope To Improve,

•Advertising and marketing campaign,
•Expand services to include more hotels,
•Loyalty scheme,
•Maximise the use of social media,
•Extend the opening hours to include Sunday.

Reasons To Buy

•A well-established business with an enviable reputation and many existing customers.
•Prime trading position in a busy and vibrant parade of shops.
•Ideal owner managed or partnership.
•Valuation based on 2.5 x the adjusted net value of £84,500.

This establishment also comes with the benefit of a 3 double bed maisonette above the business.

We are advised the owner is currently renting this out for £1,600 per month.

Hilton Smythe highly advise early viewing as this business is likely to attract considerable interest.

LOCATION

Classic Cleaners is located along Park Road in Kingston Upon Thames and approximately 1 mile from central Kingston, here you will find a busy predominantly retail centre, with a small number of commercial offices and civic buildings. The shopping centre includes a shopping mall, "The Bentall Centre", containing the Bentalls department store and large branches of chain stores found in many British high streets.

Classic Cleaners, is ideally and prominently situated along a parade of shops with other complementary businesses such as a barbers, cafe and an off-licence.

Norbiton train station is 0.3 miles away which is in Travelcard Zone 5, the station and all trains serving it are operated by South Western Railway and is on the Kingston Loop Line calling at stations such as Waterloo, Shepperton, Clapham Junction and Richmond.

The premises is nicely presented and maintained with clear, visible signage.

There is also convenient parking for customers to use across the road from the business.

PREMISES

Classic Cleaners, is located on the ground floor of a 3 level mid-terraced property and briefly comprises.

Shop

Ground Floor

Full length windows and glazed doors to front creating a light airy and inviting interior.

As you enter the premises you are greeted with tiled flooring and counter which houses the till system, to the right of the counter is a garment storage rail and to the left is another garment storage rail with an alterations desk.

Behind the counter is a doorway which leads to an office area which then leads to a large area where the machines and presses are in operation, there is also a kitchen area and toilet facilities within this area.

There is a back exit which leads to the bin area and to another building which houses 2 further machines.

Basement

Here you will find a good sized room which is currently being used for alterations and another good sized room which is currently being used as a storage/staff room.

Equipment

The shop equipment includes,

•Till system,
•Counter,
•CCTV,
•Shirt Machine,
•2 x Finishing Tables,
•Dry Cleaning Machine,
•Suzy Cabinet,
•Compressor,
•Washing Machine,
•Tumble Dryer,
•2 x Sewing Machine,
•Cabinet Storage Equipment,
•Railings,
• Desk.

TENURE

We are advised that Classic Cleaners is being offered as a Leasehold business with 14 years remaining from the original 17 years Lease.

The rent is £30,000 per annum which is very reasonable given the size of the premises and with the rental income from the maisonette above.

We are advised that the business rates payable are currently £5,000 per year.

HOURS

Monday-Friday 7:30am to 6:30pm
Saturday 8:30am to 5:30pm
Sunday Closed

STAFF

The business is run and managed by our client with the assistance of 3 members of staff.

FINANCIAL PROFILE

In 2015 Classic Cleaners, generated an advised turnover of £146,447 per annum with an advised £84,500 adjusted net profit.

This rose in 2016 to an advised turnover of £173,973 and from this year’s takings our client has advised that they are on target to achieve a turnover of £179,200.



£210,000
Listing Details
Leasehold Price: £210,000
Tenure: Leasehold
Sector: Launderettes, Dry Cleaning Businesses
Financials
Annual Turnover: £146,447
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