Shop for saleEast Terrace, Penzance, Cornwall, TR18
- Business for sale
- Use class orders: A1 Shops
- Established business
- Freehold commercial property
- 2 bedroom flat above
- Easy to run
- Ideal bolt on business
- Ideal first business
This established Launderette business is located on a busy main through road adjacent to the train station so enjoys high levels of visibility. Penzance is the major tourist and commercial centre of West Cornwall. This coastal town is steeped in history, while providing all the facilities of modern life for residents and visitors alike.
Asking Price: £249,950 plus SAV
Turnover: £65,407 pa
GP: £60,507 (92.5%)
Adjusted net profit: £39,979
Veritas Business Sales are delighted to offer for sale this respected Freehold Launderette concern located in Penzance. The business has been established since 1968 and has been in the careful hand of my clients for the last 7 years and is reluctantly being offered for sale but they feel that it's time to move on. Since ownership they have continually invested in new equipment along with fixtures & fittings which are all bought and paid for and included within the sale price which is a huge plus for any new purchaser as additional funds will not need to be spent for some time. The business is owner operated and requires the help of just 1 part time member of staff and has an annual turnover of £65,407 with an exception GP of 92.5% and an adjusted net profit of £39,979. The business is made up of walk in customers, commercial washes and service washes in that respective order. We believe that there is further potential to increase turnover as they have never advertised or undertaken any promotional leaflet dropping and there is scope to build on the commercial work should any new purchaser want to. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade. This is a superb opportunity to purchase an established business which is a great base to build upon and as such early viewing is highly recommended as this business is not to be missed.
(Shop) Monday - Sunday - 8.00am - 8.00pm
(Service) Monday - Friday - 8.00am - 4.00pm
Saturday - 8.00am - midday
Retail shop comprising: 12 x Electrolux (T33005) tumble dryers, 6 x Electrolux (75KG) washing machines, 1 x Electrolux (160KG) washing machine, 1 x Electrolux (180KG) washing machine, change machine and a customer seating.
Service room comprising: 1 x Electrolux (W3240H) 240KG washing machine, 1 x Electrolux tumble dryer, 1 x Primus roller iron, , shelving, TV, table & chairs and tea & coffee making facilities.
W/C and hand wash basin
Flat is sub-let for (£600 PCM)
Kitchen (fully fitted)
Bathroom with corner bath, shower cubicle, w/c and hand wash basin
Double bedroom x 2
Front off road parking for 3
The flat above benefits from double glazing and the business rates are zero
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