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Well Established Electrical & Hardware Business

City of London, London
Leasehold Price:
£24,995
Status
FOR SALE
Advert ID
248448
Reference
B05509 / Rightbiz
Business
Hilton Smythe are delighted to offer the opportunity to purchase a multi-faceted electrical business first established in London in 1920. Our clients have owned business for over 20 years and due to ill health are now being forced to sell the business and lease quickly. We have placed a very low premium on the shop and business to gain a quick sale.

W.H. Fox & Sons are -

Electrical Contractors - serving the tenants of 4 x local letting agents, local businesses, hotel, local landlords and absent landlords who trust the electrical experience of our client. They can carry out full installations and electrical repairs, minor faults detected, certificates issued and much more. A same day service can be offered in emergency cases.

Appliance Repair Centre - agents for AEG, Delonghi, Kenwood, Numatic, Electrolux, Goblin, Haden, Hoover, Karcher, Miele, Magimix, Nilfisk, Panasonic, Vax, Morphy Richards, Sebo Belling.  Mail order spares service also available. Full repair and service offered on dish washers, refrigerators, vacuum cleaners, electric cookers/ovens and microwaves. (Domestic and Commercial customers).

Hardware Stockists - in store there is an excellent choice of DIY ranges from decorating paints & brushes, adhesives, hand tools, ironmongery, plumbing parts and spares, bulbs, fuses and electrical parts, a full key cutting service and more.

W.H. Fox & Sons are a ‘NIC EIC ‘approved contractor - fully experienced to offer inspection & testing (incl Pat Testing) plus Landlord certificates for Employees, Landlords or Letting Agents.  Our client offers both a telephone and walk in advice service, highly regarded in this loyal and affluent area.

The business is split 50% electrical services and 50% walk in shop sales.

The shop comes fully stocked and will be available at separate negotiation on the needs of any new owner.

Our client admits the business is just being run to suit due to family health, currently combined sales average at £2,000 per week while previous sales were more than double due to more electrical work being undertaken. Any new owner could significantly impact sales by investigating any of the following -

  • New website and social media presence
  • Local advertising and re focus of the services offered
  • Adding new letting agents and landlords to the current list
  • Adding more local hotels to the current list serviced
  • Establishing a new link with local builders and contractors
  • Adding more services to the existing shop to drive footfall
A lease with 2 x floors of space available in this area rarely comes to the market and we strongly advise early viewing to avoid disappointment.

The price placed on the business is focused on the internal assets and lease value, therefore we recommend other retailers to also consider this favourable lease opportunity.



Location
W.H Fox & Sons Ltd occupies a prominent trading positions along one of the most sought-after streets in Earls Court/Kensington area of London.

Kenway Road offers an unusual mix of period homes to one side, facing a parade of high-end independent retailers and businesses to the other. Very rarely does a unit come to the open market on this street and we would recommend any similar business type looking to relocate or any retailer looking for new premises to contact us as soon as possible.

Kenway Road is a one-way street just off Earls Court Road which leads back on itself onto Redfield Lane. It is surrounded by many desirable streets of period housing, shops, bars and restaurants including an excellent choice of high-end hotels. The Bupa Cromwell Hospital is also directly behind just off Cromwell Road.

Nearest Underground station is Earl’s Court, less than 2 mins walk away.

There is limited meter parking in the street as well designated resident parking bays.



Premises
Ground floor -

Attractive window display area

Hanging rail display units to the left and right sides of the shop

2 x central gondolier units

Rear display stand

Service counter - key cutting machine, pc, card machine, work diary and storage

Rear staff area - access to lower ground floor

Lower Ground Floor -

Staff kitchen

Rear stockroom with shelving

Large front stockroom with shelving

The premises are circa 107sqm.



Tenure
We are advised the business is being sold as a Leasehold with 8 years remaining in a 12-year lease, currently paying just £19,000 per year. Current business rates payable are now just £8,000 per year.



Hours
MONDAY TO FRIDAY - 9am to 6pm

SATURDAY - 9am to 5pm



Staff
The business is run and managed by our client with the help of 2 x self-employed field repair contractors.



Financial Profile
The business currently is run to suit with approx. £2,000 of combined sales, the value placed on the business is focused on the asset / lease transfer. Gross profit of £44,000.



Listing Details
Leasehold Price: £24,995
Tenure: Leasehold
Location: City of London, London
Sector: Electrical Retailers
Financials
Annual Turnover: £104,000
Contact Agent
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Advert Reference: B05509 / Rightbiz
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