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Reference G8887

Convenience Store with Off Licence in North London For Sale

Register to see map and to make an appointment Situated in a parade, excellent main road trading position, residential, office and commercial area, not far from Underground station, CENTRAL LONDON

Turnover 16,500
Price 185,000

Features

Convenience Store with off Licence, Atm, Paypoint, Parcel Collect / Delivery Services

DOUBLE FRONTED PREMISES WITH ELECTRIC SHUTTERS 1600 sq ft. Air conditioning. Sales counter, cigarette gantry, 2 EPOS tills, 4-3.75m open chillers, 1-2m chiller, 2 double door upright freezers, modern adjustable shelving, Cocoa Cola fridge, Redbull fridge. CCTV (16 cameras)

2 large stockrooms

Cloakroom with toilet and sink

2 kitchens with sinks

Turnover

WE ARE INFORMED by the owner the turnover currently averages 16,500 p.w. with a gross profit of 26% approx. WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

ATM 400 per month
BUS PASSES 115 per week approx.
NATIONAL LOTTERY 210 per week approx.
Parcel services 110 per week approx.

Staff

The business is at present operated by the Manager with 1 full time staff plus the assistance of 2 part time staff employed. We are informed the wage bill averages 1,200 p.w. approx.

Trading Hours

7 Day week
MONDAY - SUNDAY 7am - 9pm

Outside

Yard to rear with access for deliveries.
Parking for 2 cars

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on 2 SECURE RENEWABLE leases from a private landlord, granted for 20 years in 2003 with reviews every 5 years (next review 2023) 6 months left to run total rent 39,000 p.a. We understand the landlord is prepared to grant a new lease at terms to be agreed.

Business Rates from April 2022 11,200 approx. (Please contact local authority to confirm)

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS 185,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to 92,500 (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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