PROFITABLE LAUNDRETTE WITH SEPARATE STUDENT ACCOMMODATION

Ref : M3246

Price

Freehold : Offers in the Region of :: £370,000.00 SAV SOLE AGENTS

Unless otherwise stated all rental figures and asking prices quoted in the above details are exclusive of any Value Added Tax that might be applicable.

  • Profitable self-service laundrette with separate student accommodation.
  • Prime location thriving parade close to university and city centre.
  • Substantial premises well maintained throughout.
  • Fully equipped laundrette with office and large basement storage area.
  • Self-contained four bedroom maisonette with Rental Income approx. £9,000 per annum.
  • Turnover approx. £58,500 per annum (i.e. approx. £49,500 income from laundrette, with £9,000 income from maisonette).
  • Healthy net profit achieved with very little owner input.
  • Retirement sale after 25 years.
  • Viewing strongly recommended.

This profitable and well established laundrette is located in a highly prominent trading position at the southern end of Mutley Plain, at the junction of Mutley Plain, North Hill and Alexandra Road. Mutley Plain is one of Plymouth’s busiest shopping thoroughfares which currently has three national supermarket chains, a number of national retailers, as well as a full and varied selection of independent trades and businesses, all of which are serviced by a large public car park.

The unit enjoys a highly visible trading position and is within easy walking distance of Plymouth’s expanding university and main student halls of residence. Mutley Plain generates a consistent year round custom from local residents and, of course, students, all of whom live within the surrounding residential areas of Mutley, Peverell, Mannamead and Greenbank. As a result, the business enjoys an excellent and profitable year round trade.  

Plymouth, with a population of over 250,000 is the largest city in the West Country.  Largely rebuilt since World War II it is now a thriving industrial and commercial centre and is still one of the Royal Navy's principal base and warship repair dockyards.  The city has excellent educational, recreational and entertainment facilities and access to the rest of the country is gained by road via the A38/M5 motorway and by rail.  Europe is also accessible by the car/passenger ferry which is operated from its terminal at Millbay Docks.

The premises comprises a four storey mid-terraced Victorian property which is believed to date back to the 1880s and for the main appears to be of stone construction with rendered and painted elevations under a slate roof.  Under the present ownership, it has been well maintained. The laundrette is well presented and is comprehensively fitted and equipped throughout, with a small office and stockroom to the rear, together with a large lower ground floor basement storage area which in the past has been utilised as a service laundrette area. There is a self-contained four bedroom maisonette to the upper floors which lets consistently to students due to its close proximity to Plymouth University and which has been recently refurbished and redecorated.  An early viewing appointment is highly recommended to fully appreciate the location and appeal of this profitable business which generates a healthy income with limited owner input.

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Office Address

Huntley & Partners
117 Ridgeway
Plympton
Plymouth
Devon
PL7 2AA

Telephone

01752 206020

(24hr answering service)