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Reference G8339

Convenience Store in Birmingham For Sale


Register to see map and to make an appointment Situated in a parade, residential area, BIRMINGHAM BIRMINGHAM

Turnover 10,500
Price 110,000

Features

Well Established Self Service Convenience Store, Counter News, Confectionery, Tobacco, Full Free off Licence

SPACIOUS DOUBLE FRONTED SALES SHOP probably in the region of 1,000 sq. ft. sales area with tiled floor, suspended ceiling with fluorescent lighting & fully equipped including counter, till with EPOS scanning system, 2 glass topped chest display deep freezers, 1 upright deep freezer, ice cream deep freezer, 2-2.75m open cool display units, modern adjustable shelving etc.

2 Stockrooms
Office

Turnover

WE ARE INFORMED the turnover averages 10,500/11,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. Wholesale newsbill 300 p.w. We are further advised by the owner that the gross profit is in the region of 25%. In addition the business is agents for the sale of on line national lottery tickets plus scratch cards & we understand this provides a commission of approximately 50 p.w. The business also has Payzone which we understand provides a further commissiion of approximately 30 p.w. There is also an internal ATM machine which we understand provides a further revenue of approximately 60 p.w.

Staff

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

Trading Hours

Monday - Saturday inclusive - 7.30 a.m. - 10 p.m.
Sunday opening - 8 a.m. - 9 p.m.

Accommodation

The accommodation which comprises 2 SELF CONTAINED FLATS, both recently refurbished & with FULL GAS FIRED CENTRAL HEATING are at present let & provide a rental income of 550 per calender month each, however we understand vacant possession can be given on completion, if required. Each FLAT comprises:

2 Double Bedrooms
Bathroom with bath, w.c. & wash hand basin
Lounge with fitted kitchen area

Outside

2 garages plus service area at rear providing additional shared car parking

Tenure

The vendor owns the long leasehold property and subject to satisfactory references is prepared to grant a new 15 years full repairing and insuring lease in respect of the shop with 2 flats over at a rental of 24,000 p.a. exclusive of rates for the first 4 years with rent review at that time and thereafter every 4 years. (As will be appreciated with the current rental income from the 2 flats over of 13,200 p.a. the net rental payable at the present time is 11,300 p.a. exclusive of rates). Alternatively should the 2 flats over not be required, the vendor is prepared to grant a new 15 years full repairing and insuring lease in respect of the shop only at a rental of 13,000 p.a. exclusive of rates for the first 4 years with rent review at that time and thereafter every 4 years.

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS 110,000 plus STOCK AT VALUATION (40,000/50,000 approx)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to 55,000 (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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