Designer Menswear Shop in St Albans For Sale

In a parade, busy, thriving pedestrianised precinct, prominent position, historic TOWN HERTFORDSHIRE ST ALBANS

Turnover £ 5,000
Price £95,000

Features

Bespoke Long Established Designer Menswear Spcialising In Couture Clothing and Footwear

5 DAYS OPENING

IMMACULATE DOUBLE FRONTED PREMISES in the region of 585 ft². Air conditioned. Tiled flooring, suspended ceiling with light panels. Sales counter, electric cash register.

Fully equipped, first class showroom with garment displays, rails and staging.

2 Customer changing rooms

Cloakroom with toilet and sink

Storage

Kitchen area, sink, fridge, microwave

Turnover

WE ARE INFORMED by the owner the turnover currently averages £5,000 p.w. with a Gross profit of 60% approx.

Staff

The business is at present operated by the vendor with the assistance of 1 part time staff.

Trading Hours

5 Day week
WEDNESDAY - SUNDAY 12 noon - 6 p.m
CLOSED MONDAY AND TUESDAY

Accommodation

THE SELF CONTAINED ACCOMMODATION, entrance to rear, with Storage Heaters, Double-glazed windows, at present let on a shorthold tenancy providing a rental income of £900 per month. The accommodation comprises:

First floor
Lounge
Fitted Kitchen
Toilet with wash hand basin

Second Floor
3 Bedrooms (2 doubles, 1 single).
Bathroom with bath, w.c. and wash hand basin

Outside

Small garden

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 15 years in 2010 with reviews every 5 years (next review 2025) at a current rent of £35,000 p.a. (As will be appreciated with the current rent of £10,800 from the accommodation, the net rent payable at the present time is £24,200 p.a). We are advised the landlord is happy to grant a new lease at terms to be agreed.

Business Rates from April 2023 £4,800 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2001 AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £95,000 plus STOCK AT VALUATION (£70,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 47,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote