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Leasehold Dry Cleaners and Launderette Located In Worcester

Worcester, WR2 6HH
£69,950 plus SAV
Business ID:
#2385
£69,950
  • Ref: 2385
  • Type: Launderettes, Retail, Services
  • Availability: Sold
  • Business ID: 2385
  • Price Postfix: plus SAV
  • Commercial Tenure: Leasehold
  • Commercial Price: 69950
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Full Details

Leasehold Dry Cleaners and Launderette Located In Worcester
Coin-Operated
2 Bedroom Flat Above (currently sub-let)
Ref 2385

Location
Veritas Business Sales are delighted to offer for sale this established Dry Cleaners and Launderette business which is located in St Johns, Worcester. Posh wash stands within a prominent and highly visible trading position next door to Tesco Express which is part of a small parade of shops to include a pet supplies shop, hairdressers and fish and chip shop. The parade benefits from a free customer car park and is just set back from the B4204 Marley Road. Worcester town centre is approximately 2 miles away and the M5 Motoringway 8 miles.

Business information
Asking Price: £69,950 plus SAV (£500)
Turnover: £75,045
GP: £70,609 (94%)
Business Rates: zero

Leasehold
Original term: 10 years
Remaining: 5 years
Rent: £18,000 pa
Service charge: £1,400 pa
Rates: zero

Business Description
Veritas Business sales are delighted to offer for sale this respected Dry Cleaners and Launderette concern which is located in St Johns, Worcester. The business was established back in 1963 and has been in the careful hands of our client for the past 9 years and is now being offered for sale so that they can enjoy a well deserved retirement. Since ownership they have continually invested in new equipment and machinery along with fixtures and 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 have to be spent for some time. Posh Wash is owner operated with the help of 3 part time member of staff and has an annual turnover of £75,045 with a GP of £70,609 (94%). Services include dry cleaning, service washes, coin-operated launderette, wedding and prom dress cleaning and duvet cleaning. We believe that there is further potential to increase revenue by adding additional services such as alterations, key cutting and expanding the commercial work which is currently only 10% of the annual turnover. The business enjoys a strong reputation within the local community and beyond and as such has a high level of regular and repeat trade which is a great base to build upon and as such, early viewing is strongly recommended.

Opening Hours
Manned
Monday - Saturday - 8.00am - 6.00pm
Coin-operated
Monday - Saturday - 8.00am - 8.00pm
Sunday - 8.00am - 8.00pm

Ground Floor
Retail area comprising: 6 gas operated dryers (Electrolux), 3 electric washers (Electrolux Wasiator), 2 electric washers (Electrolux W75), 1 electric washer (Electrolux W3105N), 2 electric washers (Electrolux W31 30N), high capacity washer (Electrolux W84), speedy press, dry cleaning machine (Firbmatic), ultrasonic cleaner (spot removal), bagging machine, wall mounted washing powder dispenser, clothes hanging rails, hydro extractor/spinner (Electrolux), wall mounted change machine, various clothes baskets, air compressor (Hydrovane) and mobile press (Speedy plus 2).
Office and stores comprising: cash register, fridge, shelving, gas hot water generator (Dorchester), CCTV 8 camera system with monitor, floor safe, finished dry cleaning hanging rails, small electric press, 2 extraction systems and 2 ironing boards (Speedy press).
Press room with high capacity water pump, water tank, spotting table (Eton) and Pony Hoffman press.
W/C with sink drainer, base unit, water purifier (Elga) and tea and coffee making area.

First floor
Flat (sub-let for £650 PCM)
Hallway
Kitchen
Lounge
2 Double bedrooms
Bathroom with bath and shower over, w/c and wash basin