Newsagent and Off Licence in South London For Sale

Situated in a parade, excellent main road trading position, residential, office and commercial area, SE, LONDON.

Turnover £ 12,000
Price £220,000

Features

Busy Newsagents & off Licence

SINGLE FRONTED PREMISES in the region of 400 ft² with electric shutters. Tiled floor, suspended ceiling with LED lights, sales counter, EPOS till, cigarette gantry, modern adjustable shelving, glass fronted upright double door drinks display fridge, glass fronted upright double door door Coca-Cola drinks display fridge, ice cream freezer, CCTV system (8 cameras, 1 monitor)

Basement in the region of 460 ft².

Staff toilet with w.c. and wash hand basin
Office
Stock room

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,000 p.w. with a gross profit of 23% approx. Wholesale newsbill £200 p.w. WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

NATIONAL LOTTERY £200 per week approx.
OYSTER £250 per week approx.
UPS £300 commission per month
Rent received from mobile phone repair section £120 per week.

Staff

The business is at present operated by 2 partners with 1 full time staff employed. 2 newsboys employed.

Trading Hours

7 Day week
MONDAY - SUNDAY 7am - 10.30pm

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 25 years in 2015 with reviews every 3 years (next review 2024) at a current rent of £22,800 p.a.

NIL Business Rates after full relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2015 AND IS SOLELY OFFERED FOR SALE DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £220,000 plus STOCK AT VALUATION (£25,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 110,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote