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Retail premises for sale

£35,000

51 Park Street, Leamington Spa CV32

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Property description

Business
Spooks Hair Design was founded by the current owner over 40 years ago and has flourished significantly through offering a reliable and welcoming service which has been a real labour of love, whilst at the same time being successful and lucrative. The time has come to sell, albeit reluctantly and with a heavy heart so the owner can take a well-earned retirement and spend more time at her Spanish holiday home. The owner is especially keen to see her business to an ambitious and entrepreneurial new owner who can take this already thriving business to the next level.

Spooks Hair Design is a popular unisex hairdresser that welcomes all ages to experience a personal and professional hair styling service and offers the following;

Blow dry for long and short hair
Trims
Wet cuts
Restyles
Perms
Tints
Foils
Men’s cuts and restyles
Men’s wash cuts
Shampoo and sets.

Spooks Hair Design enjoys great visibility on the internet via sites such as , , , , etc.

Scope to Improve:

Website to extol the services offered perhaps with an online booking facility
Maximise the use of social media particularly Facebook, Twitter and Instagram
Advertising and marketing campaign
Extended opening hours
Sublet the second floor rooms to a complimentary business
Rent chairs in the salon
Reintroduce Tanning with sun beds and spray tans
Introduce other beauty treatments or a nail or eyebrows concession
Investigate online discount offerings from the likes of Groupon and Wowcher.
Introduce a customer loyalty card/ scheme.

Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Spooks Hair Design is Located in Leamington Spa in Warwickshire.

Royal Leamington Spa commonly known as Leamington Spa is a Spa town in Warwickshire. In the town centre there are a variety of shops from High Street chains to independent retailers, plus an indoor shopping centre, The Royal Priors, which is very close to Spooks Hair Design.

The out of town retail park is called the Leamington Shopping Park (formerly The Shires Retail Park) Leamington Spa and the surrounding area, known as Silicon Spa, is a significant global centre for the video game industry with a higher than average proportion of digital media companies, digital design and publishing with well over a thousand employed directly in game development. From Leamington centre it is 3 miles to the M40 motorway which links it well to Birmingham and London.

Spooks Hair Design is ideally located in the main shopping area of this lovely Spa town alongside other complimentary retail businesses many of which are independents and as such benefit from high levels of footfall and passing trade.

Premises
The business is beautifully presented and maintained with an upmarket look and clear visible signage and distinctive livery. There is inexpensive, metered car parking across the road from the premises and additionally a number of public car parks within easy walking distance.

This business really needs to be viewed to appreciate both the size of the premises and the quality of the fixtures and fittings. This business is likely to attract considerable interest.

Spooks Hair Design occupies four floors of a brick built, inner terraced property and briefly comprises;

Ground Floor

Salon
Windows and glazed door to front creating a light, airy and inviting interior, cleverly designed to maximise the space available with wood effect flooring and mood lighting, bespoke curved counter with space for cash register, card machine and appointment book. Two work stations each with mirror, shelf and electrical sockets, feature upright ‘trendy’ radiators x 2, backwash, wall mounted hair dryers, leather effect tub chairs creating a pleasant customer waiting area.

First Floor
Generous salon with three period style sash windows to front aspect, each with roller blind, window to rear aspect, again with roller blind, three work stations each with mirror, shelf, electrical sockets and hair dryer holder, back wash, drawer unit on castors, feature upright black radiators, wall mounted hair dryer and built in alcove cupboards.

Store Room
Useful walk in cupboard with a range of base units and a run of worktop which is currently used for the storing of colours and tints etc.

Second Floor
Landing
Large landing with wood effect flooring and a window to front aspect and a fitted backwash. This is a generous space and offers potential as an additional treatment area

Treatment Room
Currently unused, a generous Room with window to front aspect and suspended ceiling which offers sub-letting possibilities.

Kitchenette
With a range of base units, worktop, stainless steel sink and space for fridge, microwave etc.

Boiler cupboard
Containing water tank and Vaillant Boiler.

Lower Ground Floor
Good sized cellar with decent head height complete with power and light.

Tenure
Spooks Hair Design is being sold as a leasehold business opportunity. The vendor owns the freehold of the premises and is happy to negotiate a mutually acceptable lease with a new owner. A rent of £16,640 per annum is proposed which represents good value given the size and location of the business.

There were no business rates payable at the time of instruction

Hours
Monday closed
Tuesday to Thursday 9-5
Friday 9-6.30
Saturday 8.30-5
Sunday Closed

Staff
The business is run and managed by the current owner with the help of one-part time and self-employed member of staff. It is worth mentioning that the business has previously employed 4 or 5 additional stylists but is now being run at a pace to suit.

Financial Profile
Spooks Hair Design generated an advised turnover of circa £43,000 as of the 2017 accounts with a gross profit of roughly 57% and an adjusted net profit of approximately £20,000. The business has enjoyed higher turnover previously which could easily be achieved once more.

What Zoopla users think of Leamington Spa

Overall rating:

  • currently 4.5 stars
Very good - 88% (124 ratings)

Ratings breakdown:

  • currently 4.5 stars
Community & safety
  • currently 4 stars
Entertainment & nightlife
  • currently 4.5 stars
Parks & recreation
  • currently 4.5 stars
Restaurants & shopping
  • currently 4.5 stars
Schools & public services
  • currently 4.5 stars
Transport & travel

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Community & safety
  • currently 0 stars
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  • 3
  • 2
  • 5
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  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
Parks & recreation
  • currently 0 stars
  • 4
  • 1
  • 0
  • 3
  • 2
  • 5
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  • currently 0 stars
  • 4
  • 1
  • 0
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  • 5
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  • 4
  • 1
  • 0
  • 3
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  • 5
Transport & travel
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  • 4
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  • 2
  • 5

Nearby transport

  • Leamington Spa (0.5 miles)
  • Warwick (2.1 miles)
  • Warwick Parkway (3.4 miles)
  • Coventry Airport (5.9 miles)
  • Birmingham International Airport (14.4 miles)
  • East Midlands Airport (38.3 miles)
  • Sharpness Old Docks (56.2 miles)
  • Lydney Harbour (57.7 miles)
  • Castle Park Ferry Landing (73.3 miles)

Nearby schools

View all schools in Warwick
  • St Peter's Catholic Primary School (0.2 miles)
  • St Paul's CofE Primary School, Leamington Spa (0.5 miles)
  • Milverton Primary School (0.5 miles)
  • The Sixth Form College, Solihull (12.8 miles)
  • Arrow Vale RSA Academy (15.4 miles)
  • East Birmingham Network Academy (16.6 miles)
  • The Kingsley School (0.3 miles)
  • Arnold Lodge School (0.4 miles)
  • Trinity Catholic School (0.8 miles)
Note: Distances are straight line measurements

Local info for Warwick

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For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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