Spacious double fronted Sales Shop approx. 1,200 sq. ft. sales area. Fluorescent and spotlighting. Well fitted including display stands, counter, electronic cash register.
Stockroom
Office
Staff cloakroom with w.c. and wash hand basin
Stairs to basement providing additional storage and a workshop area for cycle repairs.
Turnover
WE ARE INFORMED the turnover averages £8,000 p.w. in our opinion offering further potential to increase in the right hands. We are further advised that sales year ending 31st March, 2007 showed £357,372 with a gross profit of £169,799 i.e. 48%. (It should be noted that the purchase of the business has the advantage of a Franchise Agreement).
Staff
The business is at present operated under management. Staff employed 1 full time manager plus 2 full time staff. It will be appreciated upon inspection that with an active husband and wife team, the wage bill could be reduced.
The spacious living accommodation, all in GOOD CONDITION, which we understand can be sub-let, if desired, comprises:
3 double bedrooms
Bathroom with bath, w.c. and wash hand basin
Large lounge
Kitchen with fitted units
Tenure
We understand the premises are held on a secure renewable lease having approx. 5 years unexpired at a rental of £37,000 p.a. exclusive of rates exclusive of rates up to April, 2009 with rent review at that time. We are advised understand the landlord has at this time not increased the rent and is prepared to consider the surrender of the existing and, subject to satisfactory references the granting of a new lease at terms to be agreed.
Price
OFFERS INVITED TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS in the region of £125,000 plus STOCK AT VALUATION (£60,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
Reference
M1843
Viewing is only via appointment contact Nationwide Businesses on 020 8763 1777.
