Bittacy Hill, Mill Hill , London, NW7 - LEASE ASSIGNMENT

**3D VIRTUAL TOUR** A long established business which has been owned and operated by our client for 5 years who has now bought the business to market with a genuine reason for sale. When purchasing the business our client undertook a substantial refurbishment decorating and fitting the salon out to the high standard it currently trades in. The business has built up a fantastic reputation over our clients period of ownership, supported by a 4.6 Star Google Review and strong social media presence, VIEWING RECOMMENDED. Cost of Stock to be paid on Completion. 

Location
This beautiful salon trades from a sought after location in the heart of Mill Hill. g, set within a busy street of small independent traders adjacent to residential and retail area providing a high level of footfall. Pay by phone parking available at front.

Tenure
We are advised there are approximately 6 years remaining on the lease at a rental of £18,000 per annum exclusive.

Premises
Retail shop with glazed frontage, facia board and single glazed entrance door leading into the premises which benefits from an ALARM SYSTEM, measuring approximately 635 sq. ft. and is arranged as follows:
Salon

FRONT SALON AREA with  porcelin flooring, hanging lighting with reception desk to the front right hand side, customer sofa on the left 6 hair stations to either side.

TREATMENT ROOM with couch, sink,. The door on the left hand side of the small landing area leads into a STAFF ROOM / KITCHENETTE with wash hand basin, a door from this room leads into a WC with wash hand basin.

Trading Hours
Tuesday 10 am - 5 pm Wednesday 10 am - 6 pm Thursday 10 am - 8 pm Friday 10 am - 6 pm Saturday 9 am - 5 pm closed Sunday and Monday.

Staff
The business is run by the vendor 6 days a week, with the assistance of four barbers

Turnover
Year End 2023 accounts confirm a turnover of £209,189. Full financial information will be disclosed to seriously interested applicants following a viewing of the business.

Legal Costs
Each party are to be responsible for their own, with the landlord's legal costs to be split 50/50 based on a lease assignment. If a new lease is granted, each party to pay their own, with the landlords legal costs for surrendering the existing lease to be responsibility of the vendor and the landlord legal costs involved in the granting of the new lease to be the responsibility of the Purchaser.

The property is available to occupy by way of an assignment of the existing lease which expires in September 2030. The current passing rent is £18,000 pa with the next rent review scheduled for September 2024. 

A premium of £150,000 is being sought in respect of the rent saving and assignment of the existing lease and company.