Ref: GAT2170
Gator Business Sales are delighted to be able to offer for sale this freehold property which provides three income streams.
Firstly, there is a launderette that has been continuously operating for circa 50 years. Currently only offers coin-ops and service washes, so there is immediate potential to expand to include ironing as well as collection and delivery. The launderette is equipped with 8 commercial washing machines and 6 dryers.
Secondly, there is a café that has been trading for in excess of 30 years. The café is currently operated as a lifestyle business with limited opening hours. Purchasers will have the opportunity to extend the hours or, alternatively, use the space to expand the launderette’s services.
Thirdly, there is a large first floor 2 bedroom flat. The tenants of 16 years have just vacated and the property is being sold with vacant possession. As such, new owners will be able to utilize the accommodation themselves or rent it out. Rental income for a 2 bedroom flat in the area is circa £1,000 per month.
Of particular note is the amount of parking that is included with the freehold sale. There are at least 10 spaces located to the front and side of the property. Ease and availability of parking is always beneficial to laundry and food service businesses. Additionally it means that the flat can be marketed with the availability of off-street parking which undoubtedly adds to the rent potential.
The property and businesses are being marketed for sale after some 37 years of continuous and profitable ownership by our client, and is a genuine retirement sale.
Property Details: Freehold
Asking Price: £399,000
Trading Hours: The launderette is open Monday-Saturday: 7.30am-5.30pm. The café trades 5 days per week (closed Wednesday and Sunday) 9.00am-1.00pm.
Employees: There are two long-serving employees in the launderette who are happy to transfer to the new owners if required. No employees will transfer with the café as it is currently staffed by relatives of the owner.
Location: Fantastic main road location in a densely populated suburb of Southampton.
Reason for Sale: This is a genuine retirement sale.
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