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Convenience Store in East London For Sale

Convenience Store in East London For Sale
Convenience Store in East London For Sale Buy a Convenience Store in East London For Sale Sell a Convenience Store in East London For Sale Convenience Store in East London For Sale for Sale

Register to see map and to make an appointment Situated busy road, residential area, EAST LONDON

Turnover 5,500
Price 60,000

Features

Self Service Convenience Store, Full Free off Licence with Paypoint, National Lottery and Collect Plus

Forecourt area to SPACIOUS DOUBLE FRONTED SALES SHOP in the region of 800 sq. ft. sales area with tiled floor. Fully equipped including counter, 2 tills with EPOS scanning system, 6m open cool display unit (used for soft drinks, milk & dairy produce, 1-2.5m open cool display unit (used for wines & beers), double door glass fronted drinks display fridge (on loan from Coca Cola), modern adjustable shelving, 3-door glass fronted upright display deep freezer, CCTV system with 4 camera, monitor plus recording.

Storeroom
Staff w.c.

Turnover

WE ARE INFORMED the turnover averages 5,500/6,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. We are further advised that the gross profit is in the region of 24%.

Staff

The business is at present operated by the vendor with the assistance of 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

Monday - Friday inclusive - 8 a.m. - 12 midnight
Saturday & Sunday opening - 11 a.m. - 12 midnight

Accommodation

The SPACIOUS accommodation in the form of a SELF CONTAINED FLAT over on the first floor, DOUBLE GLAZED & with FULL GAS FIRED CENTRAL HEATING, we understand is currently let on a long term contract a rental of 900 per month. The FLAT comprises:

2 Bedrooms (1 double, 1 single)
Half tiled bathroom with bath, w.c. & wash hand basin
Lounge
Fitted Kitchen

Outside

Yard at rear

Tenure

We understand the entire premises are held on a secure renewable lease for a period of 20 years from October, 2016 at a rental of 20,000 p.a. exclusive of rates up to October, 2020 with rent review at that time and thereafter every 4 years. (As will be appreciated with the rental income currently of 16,200 p.a. in respect of the letting of the flat over, the net rental payable at the present time is only 3,800 p.a. exclusive of rates).

Uniform Business Rates: 8,000 p.a. (under appeal) approx.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS 60,000 plus STOCK AT VALUATION (20,000/25,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 30,000 (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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