High street retail property for sale
Salon, Spitalfields, London
£46.36 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
755 sq ft
70 sq m
- SECTOR
High street retail property for sale
Description
The premises has been finished to an excellent standard throughout, boasting high-quality fixtures, fittings and professional equipment, allowing an incoming operator to commence trading immediately with minimal additional investment.
Our client currently sublets a section of the salon, generating £1,100 per calendar month (£13,200 per annum), which significantly offsets the rental liability. There is further scope to increase income through the subletting of:
A curtained-off treatment area
A separate, fully enclosed treatment room
Both areas could alternatively be retained for owner occupation, offering flexibility to suit a variety of salon or wellness concepts.
Key Features:
Prime Spitalfields location
High-spec fit-out and equipment included
Existing sublet income: £13,200 per annum
Further subletting potential
Long permitted opening hours
This is an ideal opportunity for an owner-operator or investor seeking a ready-to-trade, income-assisted salon in a sought-after London location. RX707477
Location
The premises is situated in an enviable trading location in the heart of Spitalfields, East London, an area renowned for its vibrant commercial and cultural scene. The property is surrounded by a diverse mix of independent boutiques, eateries and well-known national brands, creating a dynamic and attractive trading environment. The location benefits from consistently high levels of footfall, supported by strong vehicular passing trade, making it an ideal position for a customer-facing business.
Tenure
10 year lease from 2022 with 7 years unexpired at a current rental of £26,000 per annum exclusive. Our client currently sublets a section of the salon out at £1,550 per calendar month (£18,500 per annum ) which greatly off-sets the rent.
Trading Hours
The premises is permitted to trade from 7 am - 10 pm Monday - Sunday.
Business Rates
The premises is subject to a rateable value of £62,000 and we are advised that Business Rates are payable at £12,000 per annum.
Legal Costs
Each party to be responsible for their own legal cost incurred in the transaction, with the landlords legal costs to be split 50/50.
Disclaimer
Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
Salon, Spitalfields, London
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Aldgate East Station0.2 miles
- Aldgate Station0.3 miles
- Shoreditch High Street Station0.4 miles
Notes
Disclaimer - Property reference RX707477. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Gilbert and Rose Commercial, Essex Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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