6904 / Rightbiz
- Prominent Main Road Location
- Annual Turnover £26,239
- Gross Profit £24,606
- Net Profit £16,446
- Accounts Available Y/E 31st August 2017
- Rental Income From Flat £15,000 P/A
- Established 1983
- Retirement Sale
- Owner Operator / No Staff
- Also Offers Key Cutting & Carpet Cleaning
- No Previous Advertising Done
- Scope To Develop Online Presence
- Additional Income From Holiday Coach Trip Bookings
- EPC – TBC
REF 6904 – Freehold Dry Cleaners With Accommodation
Blacks Business Brokers are pleased to bring to the market this freehold dry cleaners with accommodation located on a busy main road in Enfield, London.
New Image Dry Cleaners was established in 1983 and our client took owner ship in 1985. The property operates the business within the ground floor only. Our client enjoys a lucrative second income stream from the impressive two bedroomed flat on the first floor which is currently rented out. The business is very well known and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to this excellent trading position within the M25 circular. Our client has provided exceptional service over the past four decades and this is reflected in its excellent reputation and superb reviews on Google and Yell. The business also benefits form additional income and custom form the booking of holiday coach trips via Enfieldian Holiday Bookings.
New Image Dry Cleaners occupies a prominent trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including car repairs, nail salon, independent retailers and large multiples such as Tesco and Lidl. Enfield Lock Station and Turkey Street Station are also close by. This area is very well linked by the M25 with strong public transport links and parking is available to the front of the shop.
REASON FOR SALE
This lucrative dual income stream proposition has only become available due to our client’s retirement plans and is the first time this proposition has been available to purchase in four decades of trading. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.
The business operates with our clients who are a husband and wife team who work on a full time basis within the business.
New Image Dry Cleaners has traded solidly since opening and our client has established a strong customer base. Accounts for year ending 31st August 2017 show annual turnover of £26,239, gross profits of £24,606 and net profits of £16,446. In addition to this, the first floor generates £15,000 per annum in rental income. Further financial information is available upon request.
The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.
This property offers a range of options to a new owner, from full owner occupier use to full rental of the business and accommodation if preferred. There is plenty of scope to develop the existing business further with the introduction of a collection and delivery service along with the implementation of a website and the potential for Sunday opening. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.
BUILDING LAYOUT AND DESIGN
New Image Dry Cleaners operates from the ground floor of this spacious, two storey property. The business has large branding and signage on display above a fully glazed frontage. Inside, the main shop area is well presented with large counter in place with garment hanging space to the side. To the rear of the counter is a workshop area fitted with a range of equipment including dry clean machine, sewing machine, commercial iron, compression, cutting machine, carpet cleaning machine, key cutting machine and passport photo booth. All are of good quality and have been well maintained.
The first floor of this property is let as a two bedroom property. The current tenant is on a one year lease which began in February 2019 - There is a 2 month notice period which a new owner can enforce should they wish.
Fixtures & Fittings:
Dry Clean Machine
Sewing Machine x 3
Carpet Cleaning Machine
Key Cutting Machine
Passport Photo Machine
MON - SAT: 07:30 - 18:30
Freehold Price: £494,995
Location: City of London, London
Sector: Dry Cleaning Businesses
Annual Turnover: £26,239
Annual Net Profit: £16,446
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