Clothing Angel - Mornington Dry Cleaning and Alterations legend

12 days ago

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Summary

Don’t miss this opportunity to invest in a well-established and growing business in the bayside suburb of Mornington. Clothing Angel has long been a feature of the Mornington landscape...

Location Details

Bentons Square, Shop 15, 210 Dunns Rd, Mornington, 3931

About the Business

Don’t miss this opportunity to invest in a well-established and growing business in the bayside suburb of Mornington. Clothing Angel has long been a feature of the Mornington landscape and is now located outside the thriving Bentons Square Shopping Centre.

With no other competitors for miles the business is an essential provider of dry cleaning and alterations in an area which is known, both for its growing school-age population and as a haven for wealthy retirees. Bentons Square is increasing in popularity year on year and attracts customers from Mornington, Mount Martha and all the surrounding suburbs.

The business is highly profitable and its income is growing annually. With a turnover of around half a million dollars and net income of over $140,000 per annum and, with the benefit of a loyal and competent staff, it can be run directly either by its owners or under management. The 130 square metre shop is located at the entrance to the shopping centre and has two designated customer car parks at the front and one staff car park at the rear.

The shop is fully-equipped with over $200,000 (approx.) of commercial dry cleaning equipment including Italclean 300 dry cleaning machine, Unipress Forma puffer iron and automatic press, Falcon manual press, Fulton boiler, industrial compressor and vacuum, washing machines, dryers etc. Weekly takings are an average $8,000 per week with potential to further build on local industry and retail accounts (including milk bars, newsagents etc.) already in operation.

With a 5 x 5 x 5 lease (second term expires in April 2020) and a reasonable rental of $7,250 (approx.) p.c.m. including GST, plus outgoings of around $5,000 (approx.) per annum, the business can guarantee a stable income increasing on an annual basis.

Other features include a private bathroom located inside the shop, 24 hour security supplied as part of the lease agreement, rear access to the premises and a bright and sunny aspect with a prominent position and excellent signage.

So if your angels are telling you this could be the right place for you to build both a lifestyle and a business, or it is just too good a business proposition to ignore, then give Alan Maguire a call for more information or to arrange a time to inspect the business and meet the owners.

Price: $480,000

For enquiries and an inspection, with an opportunity to speak to the owners, please contact Alan Maguire, Maguires Real Estate, Mornington (0418 377 038).

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