Newsagent, Household Goods and Card Shop in Hatton Garden For Sale

Situated in a parade, busy road which hosts a renowned, prestigious Food Market estableshed over 100 years, densely populated residential & commercial area, CENTRAL LONDON, HATTON GARDEN

Turnover £ 11,000
Price £172,500

Features

News (we Understand Newspapers Are Shortly To Be Reintroduced, Previously Wholesale Newsbill £2,000 Pw), Confectionery, Tobacco, Household Goods, Cards, Gifts, Vaping, Oyster & Lottery

6 DAYS OPENING

Should the lease holder wish they have priority access from the Council to pitch a stall to the front of the business at terms to be agreed.

GROUND FLOOR DOUBLE FRONTED PREMISES WITH ELECTRIC SHUTTERS in the region of 540 ft². Suspended ceiling with light panels, vinyl flooring. 2 electronic cash registers, 3 double door fridges, 3 single door fridges, adjustable shelving, ice cream freezer, bespoke desplay cabinets for vape products.

Office/stockroom
Large basement ( in the region of 465 ft²) suitable to sublet for storage purposes
Kitchen area
Staff w.c. with wash hand basin

Turnover

WE ARE INFORMED by the owner the turnover currently averages £11,000 p.w. Gross profit of 26% approx. In our opinion there is scope for the sale of sandwiches plus the introduction of wines, beers & spirits, subject to obtaining the necessary Personal & Premises Licence.

WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

NATIONAL LOTTERY £150 per week approx.
BUS PASSES £60 per week approx.
ATM £200 per month approx.
2 Electricity points to front, used by stall holders providing an income of £100 per week
INTERNATIONAL SHORT TERM LUGGAGE STORAGE £25 per week approx.

Staff

The business is at present operated by the 2 partners

Trading Hours

6 Day week
MONDAY - FRIDAY 8.30 a.m - 6 p.m
SATURDAY 10 a.m - 4 p.m

Outside

Vendor parking to rear

Tenure

We understand the Council are prepared to grant to an approved applicant, a new 12 years lease, reviews every 4 years with a Break Clause every 3 years, at rent to be agreed.

Business Rates from April 2023 £2,400 approx. after small business relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1988

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £172,500 plus STOCK AT VALUATION (£15,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 86,250 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote