Hampden Square, London, N14

Long-standing and well-known hair-salon for sale.
SUMMARY
* Full height plate glass shop front
* Custom-built counter
* 6 cutting stations
* 3 washing units
* Been trading since:
* £11,000 per annum
* Lease expiring 23rd June 2026 (Contracted inside part II of the Landlord & Tenant Act 1954)

LOCATION

Occupying a prominent position within the Hampden Square shopping Centre in North London.

Hampden Nursery is within 15-25 yards on the same side of the road to the east.

There is consistent good foot fall past the shops in this Parade which includes an estate agent, a coffee shop, boutique clothing store, a kitchen retailer, a fish and chip restaurant/takeaway, a kebab restaurant/takeaway and a window/door retailer and manufacturer.

The business is located on the busier footpath of Hampden Square.

There is plenty of parking immediately within the parade which includes a free car park and plenty of parking in the surrounding areas which is excellent for customers.
Southgate Overground Station is approximately 0.9 miles to the north/north-east whilst Arnos Grove Underground Station is approx 1.3 miles to the south/south-east.
Bus routes (125, 184, 628 and 688) traverse Hampden Way, Osidge Lane and Brookside South connecting Southgate, Whetstone East/High Barnet and beyond.

There are a variety of retail and service trades in Hampden Square and also a Tesco Express on the same side of the road to the northwest.

DESCRIPTION

The subject premises includes a full height plate glass shop front and central glazed door.

ACCOMODATION

The Net internal measurements and floor areas are detailed below:

Shop: Shop front: 5.38m
Maximum Shop Depth: 9.56m
Net shop area: 61.51sq.m (662.09sq.ft) approx.
Understairs cloak cupboard
Staff room 4.14sqm (44.56 sq.ft)
WC, Wall mounted valiant boiler
Separate door leading to internal lobby with 6.47sqm (69.64 sq.ft)
further door off to:
Rear yard
THE BUSINESS
The premises are currently trading as a hair salon which has been operating in this location for approximately 40 years.
The salon opened on 24th June 1995.
The Sellers advise that they can show 4 years trading accounts which are available.
INVENTORY
The shop is fully equipped to a good standard and includes 6 cutting stations/styling stations and 3 wash bays.
CURRENT HOURS OF TRADING
Sun & Mon: Closed
Tues: 09.00 -18.00
Wed: 09.00 - 18.00
Thurs: 09.00 - 18.00
Fri: 09.00 - 19.00
Sat: 08.30 - 17.30


BUSINESS RATES
London Borough of Barnet
Rateable Value: No business rates are currently paid for this property (prospective buyers should however make their own enquiries). According to the government website, "You will not pay business rates on a property with a rateable value of £12,000 or less".
Rates payable: £8,400 (2017/2022)
£12,000 (2023)

Once again, interested parties should make their own enquiries via the Local Authority or Valuation Office

The premises are held on a 5 year full repairing and insuring lease from 24th June 2022 subject to a stepped as follows:

Year 1: £11,000 per annum
Year 2: 11,500 per annum
Year 3&4: £12,000 per annum

The Lease is contracted inside Part II of the Landlord & Tenant Act 1954.

PREMIUM

The premises are being sold as a fully operational trading entity. A premium of £60,000 subject to contract is sought for the benefit of the goodwill of the business, equipment, fixtures and fittings and stock at valuation.

The current owners who founded the business are now retiring.

Viewing and Further Information:
Viewing strictly by prior appointment with the agent:
Nicholas Georgiou/Patrick Notaro
Neway Chartered Surveyors
/12

Nicholas Georgiou


Patrick Notaro