Commercial Property for sale

Clarendon Road, Shanklin

Offers in Region of £85,000

Property Description

Full description

Tenure: Leasehold

DESCRIPTION
An excellent opportunity to acquire a well established laundry and laundrette business with good year round clientele. The business occupies two lock-up shops which are held on the balance of a 15 year lease granted in February 2006 at a current rent of £5,800 per annum. We understand that the Head Leasholder would be prepared to enter into a new 25 year lease with a purchaser of the business.

The business is well situated at the junction of Clarendon Road and the main A3055 and benefits from good regular local customers, hotels, guest houses and visitors to the island. The laundrette is open to the public seven days a week from 8am - 9pm, the owners also run a full laundry service for many hotel and guest house establishments across the Isle of Wight.

The current owner has successfully run the business for the past 8 years but is now looking to retire owing to some health problems. The business would be ready to be taken over any time and there would be immediate income from the ongoing clientele. The business and premises comprise:-

LAUNDRETTE having a 17´ frontage x 16´7 depth (5.18m x 5.02m) a slightly irregular shape with equipment that comprises: 6 Ipso washing machines (3 x 40lb and 3 x 30lb load) and 8 x 30lb load tumble dryers arranged in a double stack. Flight of 4 steps and doorway leading to:

LAUNDRY having a frontage of 15´8 and a depth of 16´7 (4.77m x 5.02m) with its own separate entrance door and fake glass windows and this shop houses: 2 x 1.6m roller irons, 1 x 1.4m roller iron, 2 x 1m roller irons. There is also shelving, counters and CCTV equipment. Door to:

KITCHENETTE 8´4 x 8´8 (2.53m x 2.63m) with sink unit, cupboards under and original shelving. Door to:

REAR YARD

OUTSIDE is a WC for the sole use of this business and there is also access to the Boiler Room which houses a very large Potterton Osprey 2 gas fired boiler together with a large hot water storage tank and large cold water tank.

UNIFORM BUSINESS RATES The rateable value of the premises is £9,100 but the current owners have 100% rate relief as this is their only business.

SERVICES All mains connected

TENURE A new 25 year Lease at a rent of £8,000 per annum will be granted with three yearly rent reviews. We understand that the Head Leaseholder would be prepared to sell the shop premises to a tenant at market value. The owners of this business have recently acquired the Freehold of the shops and the flat above but do not own the Head Lease.

PRICE £95,000 for the business including the fixtures, fittings and goodwill plus stock at valuation. The business purchaser will be responsible for the costs of the preparation of the new Lease which is expected to be in the region of £1000 plus VAT.

N.B. For a prospective purchaser looking for a business and property with accommodation, the one bedroom flat directly above the business is currently being offered for sale for £95,000. Please enquire for further details.

VIEWING STRICTLY BY APPOINTMENT THROUGH ARTHUR WHEELER ESTATE AGENTS (01983) 868333


More information from this agent

Nearest stations

  • Shanklin (0.2 mi)
  • Lake (1.1 mi)
  • Sandown (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Arthur Wheeler Estate Agents, Shanklin

46 Regent Street, Shanklin, PO37 7AA

01983 646064 Local call rate

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To view this property or request more details, contact:

Arthur Wheeler Estate Agents, Shanklin

46 Regent Street, Shanklin, PO37 7AA

01983 646064 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Shanklin (0.2 mi)
  • Lake (1.1 mi)
  • Sandown (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Arthur Wheeler Estate Agents, Shanklin

46 Regent Street, Shanklin, PO37 7AA

01983 646064 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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