DRY CLEANERS AND LAUNDRY BUSINESS LOCATED IN HOVE

This established dry cleaners and laundry business has been under the current vendors stewardship for 15 years and during this time has developed an excellent repeat trade with domestic and clients. The dry cleaners benefit from a high footfall as it is located in a thickly populated residential area of Portland Road which is adjacent to Poet’s corner. The premises are surrounded by a variation of many different retail outlets, such as household furniture shops, convenience store, offices, treatment and wellbeing Centre, Post Office as well as a West Hove infant school being only a short walk away.  They offer a complete laundry, ironing and dry-cleaning service and will also collect and deliver items. The vendor now only wishes to sell, due to their wish to retire.

THE PREMISES: The business occupies a single fronted unit on a busy main road in Hove. On entering the dry cleaners, you walk into the reception area with a fitted serve over counter. To the rear of the premises is a  Renzacci dry cleaning machine, an air compressor, a water softener, four ironing tables, Ironing Egg, 1x commercial 50lb tumble dryer, an Electrolux wet cleaning machine, 40lb washing machine, rotary steaming cabinet, a spotting table and a top loader washing machine. To the rear of the premises is also the staff toilet with wash hand basin and a large storage area. There is ample street parking available to the front of the building for customers.

TURNOVER: At present the vendors work full time in the business, with the assistance of one part time staff member who works in the dry cleaners and one part time delivery driver.  The business trades between 9am-5pm Monday-Friday and Saturday 9am-1pm.  Accounts are available upon request to any bona fide purchaser. The vendors are happy to offer a handover/training period as part of the sale. All fixture and fittings are included in the sale.

LEASE TERMS: The landlord will grant a new lease at a commencing rental of £14,000 per annum. Exact terms can be negotiated with the landlord.

 RATES: We have been verbally informed that the business receives the benefit of the Small Business Rate Relief and the amount payable at the present time is zero.  Prospective occupiers should make their own enquiries to verify same.

GENERAL REMARKS: Established business. Solid repeat domestic customer base. This business was personally inspected by the vendor sole selling agents. Offering a full range of services. A wealth of valuable fixture and fittings. Early Inspections Advised.

PRICE: We are instructed to quote for goodwill, equipment, trade fixtures and fittings and lease Price £110,000

LEGAL FEES:  Each party to be responsible for their own legal costs. The incoming purchaser to cover the landlord’s legal costs associated with the new lease.

VIEWING: On no account should any approach be made to the Manager or the staff without a prior appointment through the vendor’s agents, Watkins Commercial, Telephone: 01273 709090. 

ENERGY PERFORMANCE CERTIFICATE: Our client has been informed an EPC should be made available for this property. 

DISCLAIMER: Neither the Vendor nor the Agent gives or implies any warranty that the premises are fit for any particular use or that they comply with any relevant regulation or statutory requirement.

The agents have not tested any apparatus, equipment, fittings or services so cannot verify that they are in working order.  The buyer is advised to obtain verification from their solicitor or surveyor before proceeding with the purchase.

VAT: All prices and rents are quoted exclusive of VAT.  Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

MORTGAGE & FINANCIAL         PLANNING:       We shall be pleased to assist any purchaser in arranging finance to acquire this business or any other business you may be considering subject to status. 

Prop. Ref:               6691M

These particulars are believed to be correct but their accuracy is not guaranteed and they do not form any part of any contract.

APPLICANTS CONFIDENTIALITY AGREEMENT

I understand and agree that any information regarding any business supplied to by Watkins Commercial will be kept strictly confidential.  I also undertake that I will:

i)                View businesses registered with Watkins Commercial by appointment only.

ii)               Not contact any owner, staff, suppliers, competitors or customers of any business registered with Watkins Commercial

iii)              Not pass on any information supplied by Watkins Commercial to any third party other than a professional advisor etc. Bank, solicitor, surveyor accountant, etc.

iv)              Submit any offers direct to Watkins Commercial with whom I will conduct all negotiations

v)               Be liable for any commission which would have been due to Watkins Commercial should I be party to negotiations or actions which seek to preclude, or are contrary to the interest of Watkins Commercial