Ref 7031 – Leasehold Shoe Repair & Key Cutting Shop Blacks Brokers are pleased to bring to the market this leasehold shoe repair and key cutting shop located in Fitzrovia, London. Introduction
Brodie's was established by our client in this affluent area of Fitzrovia in 2004. The business offers a range of services including repair of shoes, bags & leather goods, key cutting, engraving, watch repairs, knife sharpening and much more. It has become very well known in this area and has a strong base of regular customers in place as well as benefitting from a huge amount of passing trade due to this excellent trading position. Our client has ensured the business has an excellent reputation and superb reviews are noted on Google. Brodie's has a comprehensive website in place. Location
Brodie's occupies a side road trading position within a parade of shops and offices. The area is densely populated commercially with neighbouring businesses including independent retailers as well as large multiples such as The Holiday Inn and Tesco. There are also a number of stations nearby including Warren Street, Regents Park, Great Portland Street and Euston Square as well as an exclusive development of apartments directly opposite. The business is right in the middle of Oxford Street, Great Portland Street, Euston Road and Tottenham Court Road which are four of the major road within the centre of London. The area is well linked by the A501 with very strong public transport links and two hour parking is available in the surrounding area. Reason for sale
The business is ideally suited to a hands-on owner-operator but sadly due to our client’s ill health, the business is offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level. Lease
The building is available on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial lease. The current lease is a twenty year lease which began in 2008 at a cost of £404 per week. Staff
The business operates with our client only in employment. Financial details
Brodie's has traded solidly since opening and our client has established a strong repeat customer base. The accounts year end 31st March 2019 show the business has an annual turnover of £70,770 with gross profits of £61,870. Full financial information is available upon request. Business rates
Purchasers should enquire with relevant local authorities to confirm the rates payable. Summary
This well known and long established business occupies an enviable trading position in a bustling area of London. Our client has secured a strong customer base including some celebrity custom and exceptional reputation. There is plenty of scope to develop the business further with the introduction of new services and longer opening hours including weekends, possibly a collection and drop off service where appropriate. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £130,000.
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