Project Description

Ref: GAT2049

Gator Business Sales is pleased to be able to offer for sale this well-established (in excess of 50 years) launderette, which is ideally situated in one of the most popular suburbs of Bournemouth.

Above the launderette, and included in the lease, is an HMO (House in Multiple Occupation) which is currently fully occupied with 4 tenants. The rents derived from the HMO are close to the total annual lease cost.

The launderette is exceptionally well equipped and is benefitting from recent significant investment in both machinery and infrastructure.

Currently operated principally under management, with only minimal day-to-day involvement from the owners.

Genuine retirement sale.

Property Details: Leasehold

Asking Price: £59,950

Trading Hours: The launderette operates on time-locks 8.00am-8.00pm 7 days per week. It is staffed Monday-Friday: 9.30am-4.00pm, Saturday: 10.00am-4.00pm.

Employees: There are 2 employees, one usually works approx. 32.5 hours per week, and the other for 6 hours per week.

Location: Prominent high street location surrounded by complementary businesses with plentiful parking close by.

Premises Details: The ground floor launderette totals approx. 59 sq m/635 sq ft and in addition there is a basement of approx. 53.8 sq m/579 sq ft. The HMO comprises of 3 floors directly above the launderette.

Lease Terms: Current 15 year lease runs through until December 2022. Passing rent, which includes the launderette and the HMO, is £20,000 per annum. Rent is paid quarterly in advance. Incoming tenant will be required to lodge a rent bond with the landlord.

Reason for Selling: This is a genuine retirement sale.

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