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Retail Property (high street) for sale

Clarendon Launderette

Withdrawn from Market £95,000

Property Description

Full description

Tenure: Freehold

LOCATION
Located on a prominent corner on the junction between Clarendon Road and North Road. North Road is the main route between the towns of Shanklin and Sandown.

DESCRIPTION
Now offered for sale is this launderette/laundry business along with the assignment of the lease. the landlord has indicated that he would be willing to extend the lease in due course, potentially a 25 year lease may be made available to the right tenant. Current rent £5,800 per annum.

The business provides service washes and laundry service to local hotels and businesses. Additionally the launderette is open to the public seven days a week from 8:00 am to 9:00 pm.

The current owner has successfully run the business for the last 8 years and is now looking to retire.

This well presented unit occupies the site of what was originally two shop units. The extensive frontage has plate glass windows making for a light and bright unit. The unit is divided into two areas, the left hand area measures approximately 4.76m x 5.18m and houses 2 x 1.6 m roller irons, 1 x 1.4 m roller iron and 2 x 1 m roller irons.

The right hand unit measures approximately 4.7 m x 6.05 m and houses a range of Ipso washing machines ( 3 x 40 lb load and 3 x 30 lb load) and 8 x 30 lb tumble dryers arranged in a double stack.

To the rear of the left hand unit there is a kitchen/storage area approximately 2.65 m x 2.61 m and a WC.

The business is available on a remainder of a lease but the vendor of the business also owns the freehold of the property. there is a long lease on this freehold of 999 years which is owned by another party.

TERMS
Our client is asking for £95,000 for the business and the transfer of the existing lease, fixtures, fittings and goodwill plus stock at valuation.

OUTGOINGS
The rateable value is £9,100 for 2017/2018.
Rates payable will be approx. £4,400.

VIEWING
All viewings to be arranged via HRD Commercial. Please contact 01983 527727.


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