Retail premises for sale in High Street, Holbeach, Spalding PE12

£11,950
Retail premises for sale
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Property description

Business
Hilton Smythe welcomes to the market Coles Dry Cleaners, a family run dry cleaning business that has been owned by our clients since 1999 and has been a dry cleaner since the 1980’s, therefore a name that is synonymous with the area. Due to health reasons our client is now looking to sell the business.

Coles Dry Cleaners is a traditional dry cleaning company that also has an agent in Long Sutton, another town which five miles is approximately away. A pickup and drop off service happens twice a week. Coles cleans menswear, ladieswear, ball gowns, evening dresses, wedding dresses, curtains, duvets etc and also carries out repairs and alterations.

The business has a strong reputation locally with many repeat customers; however, it does not have a website or any social media pages, this is something that a new owner should consider boosting the awareness of the business.

There is scope for development by considering:


  • Creating a website to increase awareness of the business

  • Creating social media pages to increase awareness of the business

  • A leaflet/marketing campaign in the villages

  • Utilisation of the first floor area


There are many reasons to buy Coles including:


  • Only dry cleaning business in the area

  • Holbeach is undergoing development with around 200 new homes being built in the next few years

  • Our client would consider staying for a limited period for training etc


Hilton Smythe highly advise early viewing to avoid disappointment

Location
Coles Dry Cleaners is located in Holbeach, Lincolnshire, on the High Street along with many other local and national companies.

Coles is the only dry cleaners in the town and serves the surrounding villages. The town has plenty of free parking and there is a main car park close by.

Holbeach is a Fenland market town in south Lincolnshire and is located off the main A17 which gives access to south Lincolnshire and North Norfolk. Holbeach has a population of circa 10,460 as of the 2011 census.

Premises
The premises are entered directly off the High Street and into the reception area with service counter and hanging rails to both side walls.

Behind the counter are the stairs to the first floor and access to the dry cleaning area.

The dry cleaning area has:
Barbanti press
Firbimatic dry cleaning machine
Firbimatic trevil rotary cabinet
Further hanging space
Door to the rear area
Within this area is a spotting table
Samsung semi commercial 14kg washing machine
Door to the storeroom
Door to outside to a shared courtyard with side and rear pedestrian access and a further storage room
On the first floor are 2 large rooms, the front of which is used as a drying room with numerous hangers etc. The rear room is for storage and there is also a bathroom on this floor.
The first floor could be utilised further by the new owners.

Tenure
We are advised the business is being sold as a leasehold business opportunity with a 2 year lease from May 2019, we have been advised that the landlord will be willing to give a new lease and is open to 3,5 & 10 year leases.

The annual rent is just £7,860 and we have been informed that our clients do not pay business rates.

Hours
Monday: 9am – 3.45pm
Tuesday: 9am – 3.45pm
Wednesday: Closed
Thursday: 9am – 3.45pm
Friday: 9am – 3.45pm
Saturday: 9am -12pm
Sunday: Closed

The new owners should consider opening longer hours in the week and on Saturdays, along with opening on Wednesdays

Staff
The business is run and managed by our clients.

Financial Profile
Coles generated an advised turnover of circa £25,375 as of the 2018 accounts, with a gross profit of £22,365, a net profit of £7,650 and an adjusted net profit of £8,850.
The assets being sold with the business are worth in the region of £5,000
Stock generally runs at £200 - £250

Arrange Viewing

For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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