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Earlsdon Barbers Shop for Sale with 4-Bedroom Rental Income in Coventry West Midlands

Coventry, West Midlands

CONFIDENTIAL SALE

  • Status

    SOLD / WITHDRAWN

  • Date Submitted:

    20/09/22

  • Advert ID

    500553

  • Reference

    2761L / Rightbiz

  • Call Agent:

    Registered members »

  • Leasehold: £49,950
  • Turnover: Not Applicable
  • Net Profit: Not Applicable

Business Details

Leasehold Barbers Shop Located In Earlsdon

Leasehold Barbers Shop Located In Earlsdon
Freehold Option Available
4 Bedrooms Above Producing (£22,080 pa)
Tattoo Licence
Ref 2761

Location
This established and well respected Barbers Shop is located in the highly desirable area of Earlsdon in Coventry. Situated within a prominent and highly visible corner position on Hearsall Lane where it meets Sovereign Road. Hearsall Lane leads to the business park and the shop is between Warwick university and Coventry university. Both university's bring approximately 230,000 students to the area which is great for business. The shop has a bus stop outside and the area has an abundance of residential houses along with other businesses which bring decent levels of footfall to the area and Coventry city centre is within (1 mile).

Leasehold Asking Price: £49,950
Freehold Asking Price: £375,000

Business Description
Veritas Business Sales are delighted to offer for sale this delightful Barbers shop which is located in Earlsdon. The business was established by our client back in 2010 and is now reluctantly being offered for due to ill health.
Since ownership she has undertaken refurbishment, redecoration and invested in bespoke fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. Rio Barbers is owner operated with an additional barber who operates on a rent a chair basis. Due to the owners ongoing health problems the business has operated at a gentle pace and comes with huge potential.
We believe that a young owner operator could take the business to a new level and also increase income by letting additional cutting chairs to other barbers or hairdressers. The space to the side and rear would also lend itself to maybe a coffee shop or other retail use. This premises are adaptable and the income from the first floor virtually pays for the rent of the whole building so with that in mind this is a great opportunity and as such early viewing is highly recommended.

Opening Hours
Monday – Friday – 10:00am – 5:00pm
Saturday – 9:00am –1:00pm
Sunday – closed

Leasehold
New lease to be granted
Term: negotiable
Rent: £24,000 pa
Rates: zero

Ground Floor
Salon lower level comprising: customer seating area, barbers chair, table, cloak rack and wooden retail display unit.
Salon upper level comprising: cutting station with barbers chair (Belmont) and wall mounted mirror, backwash with barbers chair and wall mounted mirror, barbers chair, electric water heater (Aquatronic), 2 x wall mounted shelves, wall mounted soap dispenser and wall mounted paper towel dispenser.
W/C with wash basin and electric water heater (Redring).
Retail area with barbers char, backwash, 2 x leather sofas, 2 x tables, door leading to the kitchen and rear patio doors leading the rear yard.
Fully fitted kitchen.
Hallway with stairs leading to the first floor.

First Floor
Double bedroom (Rented out for £480 PCM)
Double bedroom (Rented out for £480 PCM)
Single bedroom (Rented out for £440 PCM)
Single bedroom (Rented out for £440 PCM)
Shared bathroom to service the four tenants
Landing
The property benefits from gas fired central heating and UPVC double glazing.

External
Rear yard/garden with banana tree and rear gate. Brick built outbuilding with Double bedroom and bath ensuite.

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SOLD OR WITHDRAWN FROM THE MARKET
Advert pending deletion

Stay Safe

Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

Stay Safe

The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

Stay Safe

Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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