Newsagent and Post Office in East London For Sale

Occupying a corner position, busy road, densely populated residential & commercial area EAST LONDON

Turnover £ 5,000
Post Office £ 130,000
Price £190,000

Features

Superbly Fitted Counter News, Confectionery, Tobacco, Greeting Cards Slight Convenience Groceries, Full Free off Licence with Main Post office

SPACIOUS DOUBLE FRONTED SALES SHOP probably in the region of 1,400 sq. ft. sales area with quality tiled floor, suspended ceiing with concealed lighting. 2 air conditioning units. Retail counter, 1 till with scanning system plus post office combination counter, modern shelving, magazine display shelving, 2-3.5m open cool display units, upright double door glass fronted display deep freezer, ice cream deep freezer, 8 greeting card display stands. Post Office counter with anti-bandit screen (3 positions plus parcel hatch) etc.

Staff cloakroom with w.c. & wash hand basin

Basement - ideal for storage purposes

Turnover

WE ARE INFORMED the turnover averages £5,000 p.w. in our opinion offering tremendous potential for further increase, especially with additional opening hours. Wholesale newsbill £300 p.w. Gross profit 20% approx. We are advised that the post office income at the present time is in the region of £130,000 p.a. approx. including commission from the sale of on line national lottery tickets plus scratch cards & from the ATM machine.

Staff

At present operated by the vendor with in the retail section 1 full time plus 1 part time staff whilst in the main post office section 2 full time plus 1 part time staff.

Trading Hours

Monday & Tuesday - 7 a.m. - 6.30 p.m.
Wednesday - 7 a.m. - 7.30 p.m.
Thursday & Friday - 7 a.m. - 6.30 p.m.
Saturday - 7 a.m. - 7.30 p.m.
NO SUNDAY TRADING
It will be appreciated upon inspection there is potential for additional opening hours, if desired.

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 16 years full repairing and insuring lease at a rental of £25,000 p.a. exclusive of rates for the first 4 years with rent review at that time and thereafter every 4 years.

Uniform Business Rates: £8,000 p.a. approx.

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1996 AND THERE ARE GENUINE REASONS FOR SALE

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £190,000 plus STOCK AT VALUATION (£20,000 approx)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 95,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote