Retirement sale of family owned launderette business plus three-bedroom maisonette, which is self contained and could be rented separately.
Location
The business is situated on a parade in Chadwell Heath near Romford. Chadwell Heath is split between the London Borough of Barking and Dagenham and the London Borough of Redbridge. It is a large suburban development, 12 miles east of Charing Cross Station in London. The population is 10,000 and has recently become a more multi-cultural mix. The town is served by London Buses (there is a bus stop right outside the premises), Chadwell Heath railway station and Becontree tube station is also close by. Several very large residential developments are under way in the near vicinity, which can only make this already thriving area more vibrant.
Premises
The 1960’s brick built semi detached property has three good-sized double bedrooms plus bathroom on the first floor and below that, the shop area with staff area behind, leading through to the downstairs residential area comprising kitchen and good-sized living room. The residential areas of the property benefit from gas central heating and UPVC double-glazing and they can be accessed from the side and the rear of the building.
Business
The business was started when the property was built in 1960 and has been run by the current owners for the last 24 years. It is totally unopposed in the area and consists of eight washers and five driers. Service washes are provided for local businesses, care homes etc.
Assets
The valuable freehold of the property as well as the fully equipped launderette are included in the sale price, making this an attractive proposition as a long-term investment and as a business opportunity.
Marketing
The business does no advertising whatsoever. Relying on its reputation, repeat business and word of mouth.
Turnover
The accounts to June 2007 show a profit of £16,000.
Full accounts will be available to prospective purchasers on request.
Trading Hours
Monday – Saturday 7.30 am to 7.00 pm
Sunday 7.30 am to 2.00 pm
Personnel
The business is currently run entirely by the vendor.
Reason For Sale
Having worked extremely hard over the years building up the business the owner has decided to retire and take a well-earned rest.
Potential
The business has brought steady income over recent years, however new owners with a more aggressive approach, may decide to market the business to increase turnover. Particularly in the area of service washes for local hospitals, care homes, hairdressers etc. and also pushing the dry cleaning service that they offer.
Another possibility is to introduce a repair and alteration service as there is plenty of room for this and it would compliment the launderette perfectly, as would an ironing service.
The fact that the three bedroom living accommodation is self-contained, means that it could easily be let separately or converted into bed sits or possibly two flats.
There is a large (21 sqm) garage at the rear of the property with shutter that faces a service road at the rear. This could either be used for storage or possibly sub-let for a small car repair business or similar
Comments
This business would be an ideal add on for a chain of launderettes or as an entrepreneurs first business.
The current owner is happy to provide an adequate handover period, to provide an opportunity for the new owners to become acquainted with the business, the staff, and the customers.
Price £285,000
The Next Step
If you require any further information or would like an appointment to view the business. Please telephone 0844 561 1806. Viewing is strictly by appointment only, through ABC Business Brokers and no approach whatsoever should be made directly to the vendor.
Early viewing is advised
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