Electrical Retailer in Essex For Sale

Situated in a parade, main road trading position, ILFORD, ESSEX

Turnover £ 13,500
Price £58,000

Features

Well Established & Spacious Domestic Appliances (including Cookers, Fridges, Washing Machines, Tumble Dryers Etc)

The business has been in the same hands since established 20 years ago & there are genuine reasons for sale.

SPACIOUS SALES SHOP probaby in the region of 1,700 sq. ft. sales area with non-slip floor, suspended ceiling with concealed lighting, 2 desks.

Cloakroom with w.c. & wash hand basin

Turnover

WE ARE INFORMED the turnover is in the region of £13,500 p.w. in our opinion offering further potential to increase in the right hands. We are further advised that the sales year ending 30th September, 2018 we are advised showed £725,000 net of VAT with a gross profit of 30% approx.

Staff

The business is at present operated by the vendor with the assistance of 2 sons plus 1 full time staff.

Trading Hours

Monday - Saturday inclusive - 9.30 a.m. - 6 p.m.
NO SUNDAY TRADING
The business is also closed on all bank holidays

Accommodation

Available as an OPTIONAL EXTRA is a SELF CONTAINED FLAT with separate front entrance & FULL GAS FIRED CENTRAL HEATING, comprising:

Large Double Bedroom
Shower Room with shower, w.c. & wash hand basin
Lounge
Separate Dining Room (or 2nd bedroom)
Large Kitchen

Outside

Small enclosed yard at rear

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 12 years full repairing and insuring lease in respect of the shop premises at a rental of £25,000 p.a. exclusive of rates for the first 3 years with rent review at that time and thereafter every 3 years. Or price to include the shop premises with self contained flat over, the vendor is prepared to grant, subject to satisfactory references, a new 12 years full repairing and insuring lease at a rental of £38,000 p.a. exclusive of rates for the first 3 years with rent review at that time and thereafter every 3 years.

Uniform Business Rates: £5,592 p.a.

AS STATED THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 20 YEARS AND THERE ARE GENUINE REASONS FOR SALE

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

REALISTICALLY PRICED FOR EARLY SALE

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £58,000 plus STOCK AT VALUATION (£80,000 approx.could be reduced)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 29,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote