Village Stationery, Greeting Cards with Sub Post office
Situated in a parade, residential area, NORTHUMBERLAND
DOUBLE FRONTED MEDIUM SIZED SALES SHOP in the region of 600 sq. ft. including post office section, fully double glazed. Fluorescent lighting. 1 greeting card display stand with drawers, 2 revolving card display stands (on loan). Post Office counter with anti-bandit screen.
Staff cloakroom with w.c. and wash hand basin
In our opinion there is potential to extend the shop at rear and develop an additional retail turnover if desired.
WE ARE INFORMED the turnover averages £50 p.w. in our opinion offering tremendous potential for further increase, especially with the introduction of additional lines. Gross profit 40% approx. Post Office salary £18,000 p.a. approx. increasing
The business is at present staff operated. 2 part time staff employed. It will be appreciated upon inspection that with an active husband and wife team, the wage bill could be reduced.
Monday - Friday inclusive - 9 a.m. - 5.30 p.m.
Closing 12.30 p.m. - 1.30 p.m. for lunch with halfday Wednesday closing at 1 p.m.
Saturday opening - 9 a.m. - 12.30 p.m.
NO SUNDAY TRADING
The accommodation in the form of a SELF CONTAINED FLAT over with FULL GAS FIRED CENTRAL HEATING and part DOUBLE GLAZING is at present let on a shorthold tenancy and provides a rental income of £350 per month, however, we understand that vacant possession can be given on completion, if required. The accommodation comprises:
2 Bedrooms (1 double, 1 single)
Bathroom with bath, w.c. and wash hand basin
Kitchen with fitted units
Yard with shed plus parking space for 2 cars.
The vendors own the freehold and subject to satisfactory references are prepared to grant a new 15 years full repairing and insuring lease in respect of the ground floor with accommodation over at a rental of £7,250 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years. Alternatively should the accommodation not be required, the vendors are prepared to grant subject to satisfactory references a new 15 years full repairing and insuring lease in respect of the ground floor only (excluding the accommodation) at a rental of £3,000 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years.
Uniform Business Rates: Nil payable after full relief
THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 24 YEARS AND THERE ARE GENUINE REASONS FOR SALE.
RECOMMENDED FOR EARLY INSPECTION
TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £21,500 plus STOCK AT VALUATION (£800 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
OR PRICE TO INCLUDE THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS £125,000 plus STOCK AT VALUATION (£800 approx).
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT
Alternatively the vendors are prepared to consider the sale of the Freehold Ground Floor, excluding the living accommodation
Please call 020 8763 1777 for an appointment to view
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