This prime freehold property in the heart of Bury St Edmunds offers an excellent investment opportunity. Currently generating around £40,000 in rental income, with the potential to reach £50,000 when fully let, the property is in great condition. The ground floor unit, operating as a beauty salon, can be offered vacant or with a new lease, while the upper floors are tenanted by personal care businesses, providing a steady income stream. This property is well-located in the busy town centre, offering flexibility for investors or business owners alike.
THE BUSINESS
3 Woolhall Street, Bury St Edmunds encompasses a collection of well-presented units within an attractive and characterful property, with communal facilities for the shared use of the tenants. With a range of businesses occupying the premises all offering services centred around personal health and well-being, it has become a go to location for clients seeking these types of treatments.
Currently generating a gross rental income in the region of £40,000 per annum there is scope for this to increase to nearer £50,000 per annum if letting options are fully maximised, offering a competitive return on investment for a property in this sought after location.
We are advised that whilst the existing beauty salon business is not included within the shown freehold price and that they will vacate or sign a new lease, should a purchaser require, the vendor is also willing to consider a sale of the business by way of separate negotiation.
PREMISES
The property is located in an ideal spot in the heart of the town centre with good access and plenty of parking options close by. Being one of the largest and most well-known towns in Suffolk, there is not only a strong local trade but also many tourists visiting.
The salon which currently operates from the ground floor of the building includes:
- Reception Area: Tastefully decorated, offers a warm welcome. Split into two areas, one for product displays and a nail bar station, and another with a reception desk, client seating, display units, and a drinks making station.
- Treatment Rooms: Four treatment rooms in all, with black units, hydraulic beds, various lighting options, and one room with a large corner shower.
- Facilities: Disabled access w.c, laundry room, storage space, air-conditioning throughout, Sonos sound system, and wooden flooring.
ADDITIONAL INFORMATION
CONFIDENTIAL INFORMATION: In order to release further information on the business – such as the accounts, we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required.
REFERENCE NUMBER: BS35311E.
TENURE: The freehold property subject to the existing leases in place on completion.
The ground floor unit can be provided vacant or tenant to suit a purchasers requirements.
RATES PAYABLE: We are advised that the tenants are responsible for the Business Rates payable in respect of individual units.
This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.
EPC: Energy Performance Certificate shows a rating of ‘80/D’ – full Energy Performance Certificate available upon request.
PRICE: £595,000.–
For the benefit of the freehold property interest, subject to the existing leases. The freehold premises can be acquired with the ground floor only, vacant if desired, with no business to be included. The business though could be made available by separate negotiation. The purchaser may be able to apply to ‘Opt to Tax’ the property in order to not be liable to pay VAT on the purchase price.
VAT:
Please note that there is an Option to Tax on this property. It is being sold as a transfer of a going concern and providing the conditions are met for the sale as a transfer of a going concern (TOGC) there will be no VAT payable on the sale of the property. If these conditions are not able to be met then the buyer will be required to pay the VAT due on the agreed sale price.
VIEWING: Strictly by appointment only, please get in touch to make an appointment.
FINANCE: We may be able to help you with business financing or your commercial mortgage needs, subject to eligibility. Please let us know if you need our assistance with this and we will put you in touch with our recommended whole of market broker.
BUSINESS TO SELL: Thinking of selling your business? That’s our business!
If you are interested in finding out how much your business is worth, we offer a free and confidential valuation service. You can choose the time and day that suits you best, and we will give you an honest and professional assessment. Please contact our office at your convenience to book an appointment.
PREMIER MARKETING: We are passionate about showcasing our businesses in a way that sets us apart from others. We provide quality property details and comprehensive information on all online platforms and our own website. If you want your business to stand out from the crowd, call us to book a free valuation.
DISCLAIMER
1. Money Laundering Regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate, and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets, flooring, or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
