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Reference G7384

Convenience Store & Off Licence in Islington For Sale

Register to see map and to make an appointment Situated in a parade, main road trading position, NORTH LONDON ISLINGTON

Turnover 9,500
Price 78,000

Features

Self Service Convenience Store, Full Free off Licence

SINGLE FRONTED SALES SHOP probably in the region of 600 sq. ft. sales area. We understand refitted approximately 3 years ago. Tiled floor, suspended ceiling with concealed lighting. The equipment includes counter, electronic cash register, 2 glass topped chest display deep freezers, 2 open cool display units, modern adjustable shelving, 1 greeting card display stand etc.

Large basement comprising 2 rooms used for storage purposes

Staff cloakroom with w.c. & wash hand basin

Turnover

WE ARE INFORMED the turnover averages 9,500 p.w. in our opinion offering tremendous potential for further increase in the right hands. We are advised the gross profit is in the region of 25%. In addition the business has Oyster which we understand provides a commission of 140/150 p.w. The business also has Paypoint.

Staff

At present operated under management. Staff employed 1 full time manager plus 2 part time staff.
It will be appreciated upon inspection that with an active husband & wife team, the wage bill could be reduced.

Trading Hours

9 a.m. - 1 a.m. seven days per week

Outside

Shared yard at rear

Tenure

We understand the premises are held on a secure renewable lease from a private landlord, the present lease expiring in 2025 at a current rental of 19,000 p.a. exclusive of rates up to November, 2019 with rent review at that time and thereafter every 3 years.

Uniform Business Rates: 6,510 p.a.

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS 78,000 plus STOCK AT VALUATION (20,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 39,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote

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