Retail premises for sale in Lower Addiscombe Road, Addiscombe, Croydon CR0

£36,995
Retail premises for sale
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Property description

Business
Hilton Smythe are delighted to present to the market a renowned dry-cleaning business first established in the area in 1964. The prominent business is now been offered for sale due to ill health of our client who is selling the business after 16 years of successful trade.

The business currently offers the following services -


  • Dry cleaning - (currently acts as a satellite shop to our client’s other business however a dry cleaning machine is in situ which would easily be reinstated). Dry cleaning provides 70% of the weekly turnover.

  • Garment Repairs/ Alterations - carried out on site by our client, includes alterations to coats, suits, shirts, dresses, jeans and more. Accounts for 20% of the weekly turnover.

  • Laundry services - accounts for 5% of the weekly turnover.

  • Key Cutting - there is high demand for key cutting services due to the high number of letting agents within the area, all carried out on site. Accounts for 5% of the weekly turnover.


There is an excellent loyal customer base included with the business which includes local families, London professionals, local business users and passing commuters.

Our client admits the business is now run to suit her health and there are many options for any new buyer to significantly increase current turnover -


  • Add a collection & delivery service

  • Add commercial laundry services and ironing

  • Add new website, a Facebook page to increase awareness to new residents

  • Add more staff members to the team

  • Add Sunday trading

  • Add a local advertising leaflet campaign

  • Add some linked services such a shoe repair


The business is priced to sell quickly and comes to sign a new 15 Year lease.

The business benefits from full small business relief paying 0 rates in the current year.

Location
Ossies Dry Cleaners occupies a highly enviable trading position along Lower Addiscombe Road in Croydon.

Lower Addiscombe Road is an extremely busy road offering a selection of independent retailers, cafes, estate agents, garages and services leading into the centre of nearby Croydon.

This part of Croydon is undergoing massive investment in both new housing projects, contemporary apartment developments and improved infrastructure.

Croydon is a large Town enjoying significant investment with thousands of new homes and apartments being built including with improved retail and leisure facilities. It is the largest commercial district outside of central London which is only 9 miles away. Fast train from East Croydon to Victoria only takes 18 minutes.

There a pay and display parking spaces available in the adjacent streets.

Nearest mainline station is East Croydon just 5 minutes away.

There is a main bus stop near the business

Premises
Double Fronted shop unit, leads into -


  • Customer waiting area - CCTV throughout

  • Key cutting / Alteration area - includes a sewing machine, worktable, hemming machine, over locker, key cutting machine

  • Service counter - bowe dry cleaning machine (not tested), hanging rails to both sides

  • Customer changing room

  • Rear areas - includes a spotting table, 2 x Hoffman presses

  • Staff kitchen and toilet facilities

  • Large cellar - used as storage

  • Rear external - private parking for staff



Tenure
The business is being offered with a new 15-year lease, an annual rent of just £12,000 is available.

Hours

Monday to Friday - 7am to 6.30pm



Saturday
- 8am to 6.30pm



Sunday
- closed



Staff
The business is run and managed by our client only.

Financial Profile
The business generates an annual turnover of around £78,000.

Arrange Viewing

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

Contact Hilton Smythe Commercial about this property

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Disclaimer

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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