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Reference G8686

Impressive Convenience Store in East London For Sale

Impressive Convenience Store in East London For Sale

Register to see map and to make an appointment Situated in a parade, excellent High Street trading position, residential, office and commercial area, EAST LONDON

Turnover £ 12,000
Price £145,000

Features

Impressive Convenience Store

DOUBLE UNIT in the region of 700ft² WITH ELECTRIC SHUTTERS. Suspended ceiling with concealed lighting, tiled floor. Sales counter (new 2020), cigarette gantry, modern adjustable shelving (new 2021), cash register, 5m open cool display unit (owned by landlord), 2m open cool display unit (used for fruit and veg), open cool display unit for sandwiches, coffee machine, Slushie machine, pasty hot display counter.

Basement in the region of 785ft², used for storage purposes

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,000 p.w. with a gross profit of 22% approx. plus American snacks, in our opinion tremendous potential to increase especially with the introduction of the sale of wines, beers & spirits, subject to obtaining the necessary licenses. WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

PAYZONE £20 per week approx.
ATM Machine

Staff

The business is at present operated by the vendors on a part time basis with 3 full time staff employed.

Trading Hours

7 Day week
MONDAY - SUNDAY 7am - 11.30pm

Outside

Garage to the rear with parking space for 1 car.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 5 years in 2018 at a current rent of £26,000 p.a.

Business Rates from April 2021 £5,000 approx. payable (Please contact local authority to confirm)

NB **Please note the purchaser is to be responsible for the Landlords legal fees**

Price

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £145,000 plus STOCK AT VALUATION (£40,000 Aapprox).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 72,500 (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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