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£17,950
Kingtons Estate Agents in Radcliffe are delighted to bring to the market this busy Hair Salon in the Centre of Ramsbottom in Lancashire. With it's busy village location, the salon is surrounded by a host of other retail businesses as well as the surrounding densely populated residential area. Fantastic repeat local custom as well as passing trade.
Ramsbottom is a town in the metropolitan borough of Bury. An unspoiled Victorian mill town nestled in the West Pennine Moors. With a host of interesting shops and restaurants, Ramsbottom is a huge tourist area with attractions such as Holcombe Village, the Steam Railway and Peel Tower. The Town is situated on the course of the river Irwell, 3.9 miles Northwest of Bury and readily accessible via the M66 Motorway as well as public transport by bus and rail.
The Salon itself is on the main, busy through road surrounded by a host of retail outlets. The immediate area is densley populated, therefore offering fantastic, repeat, loyal custom as well as attracting a steady passing trade.
THE BUSINESS
This spacious, busy Hair Salon in the centre of Ramsbottom has been owned and managed by the current vendor for the last 2 years, only now being introduced to the market due to family commitments. Recently re-decorated and re-fitted throughout, there has been a salon established here for over 30 years. The current owner offers a wide range of hair treatments and also rents two chairs to a full time and a part time stylist.
THE MAIN SALON
25' 3'' x 18' 1'' (7.7m x 5.5m)
The main salon area is light, bright and modern with a near floor to ceiling window over looking the main street. There is a modern counter & till point, 6 cutting stations, sink and two backwashes, along with customer seating. There is a coffee Table along with a number of Equipment Trolleys and Display stands.
THE KITCHEN AND W/C
15' 1'' x 4' 11'' (4.6m x 1.5m)
The kitchen area has a range of fitted units along with a sink and drainer with window over looking the rear with door out to rear. There is a tumble dryer, fridge and washing machine. The W/c is located just off the kitchen.
STAFF, LEASE & FINANCIALS
There are currently 2 self employed staff on contract who would love to stay, 1 full time & 1 part time giving the current owner an income of 500.00 pcm.The current owner is due to have a baby which is the reason for the sale, but would also love to stay and work in the salon two days per week by also renting a chair.OPENING HOURSSUN & MON - CLOSED
TUES - 9-4
WED - 9-3
THUR - 9-9
FRID - 9-7
SAT - 9-3
We feel that there is huge potential to grow this business in numerous different ways. Not currently offering any beauty treatments, there is huge scope to add a nail station and other beauty treatments. A simple advertising campaign in the local newspapers and leaflets throughout the local area would certainly increase interest.
Early viewing is highly recommended as businesses and business premises are extremely sought after in this location.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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