Retail premises for sale in Norwich, Norfolk NR8

Presenting an exceptional opportunity to acquire a renowned hair and beauty salon with a rich history spanning over 25 years. Located in the sought-after suburb of Drayton, Norfolk, this salon has built a solid reputation for delivering high-quality hair and beauty services. The business, incorporated 17 years ago, has grown steadily, supported by a dedicated team of long-serving staff and apprentices. Situated just a few miles from Norwich City centre, in Drayton, the salon benefits from a growing suburban population due to many new housing developments in the area.

The salon is recognised as a supplier and user of one of the top three cosmetic hair brands globally, enhancing its prestige and customer trust. In addition to its core services, the salon generates additional rental income from a beautician who operates on-site. The current owners are seeking to retire and pass on this thriving business, which is realistically priced based on a conservative multiple of ebitda and the high demand for commercial properties in the area. The salon boasts an active social media presence and a professional, attractive website, ensuring continuous engagement with its customer base.

The business

This well-established hair and beauty salon has been a staple in the community for over two decades. Known for its quality service and customer satisfaction, the salon offers a range of fashion styles tailored to individual client needs. The business has a strong, well-known brand name and operates with two directors, the beautician and three stylists. The salon’s consistent growth is attributed to its excellent reputation, low staff turnover, and prime location in a high population catchment area.

The business operates out of an extremely well presented freehold property, presenting a rare opportunity for ownership. Alternatively, a leasehold option is also available subject to the grant of a new 5 year lease. It is being sold as a going concern, including the freehold or leasehold interest, goodwill, fixtures, fittings, and equipment. Stock is payable in addition to the sale price at valuation. The sale is to be structured as a company share sale, as opposed to an asset and goodwill sale.

Premises

The salon operates from a freehold site (leasehold option also available) with a rateable value of £7,800. The hairdressing salon floor area totals 55 m2 (592 sqft), offering ample space for its eight cutting positions and two wash basins. The premises include a separate beautician room with rear access, which was extended approximately ten years ago and has been recently refurbished. Additional facilities include a staff room/utility room, a toilet/w.c, a stock cupboard, and an outside seating area. There is also an outside storage shed for cleaning materials.

The premises benefits from ample dedicated car parking spaces, with the potential to accommodate more than six vehicles. The salon operates Wednesday and Thursday from 9:00 am to 6:00 pm, Friday from 9:00 am to 7:00 pm, and Saturday from 8:30 am to 5:00 pm. It is closed on Sunday, Monday, and Tuesday, with the beautician available on Tuesdays.



additional information

agents note: This is a business for sale as a going concern, not an empty premises for sale or let.

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: L35965E.

Opening hours: The salon operates Wednesday and Thursday from 9:00 am to 6:00 pm, Friday from 9:00 am to 7:00 pm, and Saturday from 8:30 am to 5:00 pm. It is closed on Sunday, Monday, and Tuesday, with the beautician available on Tuesdays.

Tenure: Freehold or Leasehold (new 5 year lease to be granted).

The purchaser will be responsible for the landlords costs and fees in connection with the assignment of the lease in the case of a leasehold sale.

Rent payable: £1,800 per calendar month (£21,600 per annum). The in-house beautician pays £700 per month rental income to the vendors, which will be a net benefit to the new business owner.

Rates payable: Nil. We are advised that the business benefits from Small Business Rate Relief.

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.

Staff: Two directors, the beautician, and three stylists.

EPC: The Energy Performance Certificate shows a rating of ‘71/C’ - full document available upon request.

Price:

freehold: £450,000.-- plus stock at valuation.

Leasehold: £85,000.-- plus stock at valuation.

To be a company share sale for the benefit of the Freehold or Leasehold interest, goodwill of the business, fixtures, fittings and equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

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.