Property for sale

Lawrence Avenue, Awsworth, Nottingham NG16

A freehold ground floor retail unit of approximately 50sqm of space, currently trading as a long established hairdressers. To be sold as a going concern. This turn key property is situated in a small parade of shops within an established residential suburb. Great potential for similar or complimentary owner/occupier businesses.

An interesting opportunity has arisen to purchase a freehold ground floor commercial premises currently used as a hairdressers. Viewing by appointment only.

To be sold as a going concern, Baileys Hair Design Ltd trading as Cutz Hair Design has been trading for around two decades and prior to this, the building was also used as a hairdressers. Currently set up with three work stations and two back wash stations, two of which are occupied by a part time hairdresser and stylist. Therefore, there is ample space to expand and increase revenue.

Offering around 50sqm of internal space, which around 37sqm is the open plan salon, there is a rear lobby providing access to a kitchenette, staff/client toilet facility and a store room/office that could be used as a private room for a beautician, etc.

Situated in a small parade of similar sized units which includes a convenience store, barbers and micropub. The parade is situated in an established residential suburb within Awsworth, which has recently been expanded with the development of around 200 new homes by Avant Homes. The area is served by good transport links and is close to the A610 which links Nottingham and Derby, as well as Junction 26 of the M1 motorway.

We believe this turn key property is ideal for similar businesses, as well as complimentary services such as a beautician, nail bar and non-surgical cosmetic treatments.

Salon (7.5 x 4.9 (24'7" x 16'0"))

Double glazed windows and central entrance door, currently with three hairdresser stations and two back wash stations. Fitted sink, electric heater. Door to rear lobby with fire escape door to communal rear courtyard.

Kitchen (1.55 x 1.09 (5'1" x 3'6"))

Stainless steel sink unit with single drainer, work surfacing, plumbing and space for washing machine.

Staff/Client Wc (1.56 x 1.21 (5'1" x 3'11"))

Two piece suite comprising wash hand basin and low flush WC.

Store/Office (2.42 x 2.15 (7'11" x 7'0"))

Double glazed window. Could potentially be a private consultancy room, etc.

Business Profile

The business owner is not currently involved within the business and benefits from an income from the chair rents of the two self employed stylists/hairdressers. This generates a turnover of just over £26,000 per annum. Baileys Hair Design Ltd is being sold as a going concern and we believe that this offers a great opportunity for individuals who are in similar trades to generate additional income. There are no employed staff within the business although the principle hairdresser and salon manager is keen to stay on and look after her clients. There maybe the possibility of vacant possession through negotiation.

Rateable Value

The current rateable value is £4500 per annum. This is not the amount payable, but used to calculate annual business rates. As the rateable value falls below £12,000, it is possible to claim small business rate relief, depending on the profile of the purchaser and we suggest that any intending buyer should approach the Local Authority, Broxtowe Borough Council, for more information on this.

Freehold

The building sits on a freehold title. Above the shop, is a self-contained apartment which is owned by a third party. The apartment is leasehold and pays ground rent to the freeholder of 19 Lawrence Avenue. The freeholder is responsible for the buildings insurance with the leaseholder paying a proportion. This will transfer to the new owner upon completion.

Leasehold Details

Leasehold start date 1st December 2005
Lease Term 99 Years
Ground rent £52 pa payable in 6 month instalments

Freehold ground floor commercial premises.