A High Street, West Mersea, Colchester, CO5

A ground floor retail premises situated in a main high street location, currently being used as a hair salon for the past 60 plus years with the current owner running the business for past 23 years. The property benefits from forecourt parking to the front and an additional carpark to the rear. The property comprises of an open plan L shaped area currently being used as a reception area, eight cutting stations in the main area and a hair washing room with three basins. To the rear is a staff room and kitchen, utility room and cloakroom.

Location
The business is located on the High Street surrounded by a vibrant mix of independent retailers, including a craft shop, home interiors, a delicatessen, fish & chip shop, supermarkets, estate agents, pub, restaurant, and cafe. The businesses on the High Street benefit from forecourt parking, along with residential elements directly above, creating a highly enviable passing trade. Occupying a central position on the High Street which adjoins roads leading to the beach. The immediate surrounding area is highly built-up residential, with the beach being a popular destination for day-trippers, weekenders, and holidaymakers, as well as local residents increasing footfall.

Tenure
Virtual freehold, subject to a lease of 99 years from the 25th of December 1976 with the current ground rent being £30 per annum exclusive. The premises is subject to a maintenance charge with the last annual premium being £768.16.

Hair Salon
Open-plan, L shape and measuring 26.01 x 12.09 = approximately 334.54 sq. ft. fitted with 5 x chandeliers on an artexed ceiling with coving, wood-type flooring throughout and is tastefully decorated inclusive of quality fixtures & fittings. Currently arranged as a small reception area/customer waiting area that has a till serving counter with a retail display stand directly behind. There are 8 cutting stations within the salon, 6 of which have wall-mounted back-lit mirrors and the 2 additional cutting stations being of a dressing table style with freestanding mirrors. All the cutting stations benefit from faux-type leather bucket-style hydraulic chairs. Towards the rear of the main cutting area and on the left-hand side is an open archway into the washroom measuring 13.07 x 10.04 = approximately 141.83 sq. ft. with a comfy seating waiting corner and fitted with 3 backwash stations that have display shelving directly above.

Kitchen/Utility Room
An internal door within the washroom leads to the kitchen which is fully equipped with eye-level and base-level units, counter-tops. Within the kitchen area is the entrance to the utility room. The utility room provides access to the toilet and a separate door leads to the rear parts with private car park that is signed with space for 5 vehicles.

Staff & Trading Hours
The vendor works part time and is assisted by a manager, senior stylist and assistant, sharing approximately 50 hours per week combined. The business currently trades Tuesday 9 am until 6.30 pm, Wednesday 9 am until 2 pm, Thursdays & Fridays 9 am until 5 pm, Saturdays 8 am until 1 pm. We are advised the trading hours are unrestricted and can be extended.

Turnover
Turnover on accounts shows sales of £72,840 with the usual high gross profit margins being achieved, yielding adjusted net profits in excess of £19,500. Full financial information will be disclosed at our client's discretion on or after a meeting.

Business Rates
The premises are subject to a rateable value of £5,000 resulting in zero business rates being payable.

Legal Costs
Each party are to be responsible for their own legal costs incurred in the transaction.



Tenure: Freehold
Tenure

Virtual freehold, subject to a lease of 99 years from the 25th of December 1976 with the current ground rent being £30 per annum exclusive. The premises is subject to a maintenance charge with the last annual premium being £768.16.