Well Fitted General Store & Post Office in East London For Sale

Situated in a terrace, densely populated residential area EAST LONDON

Turnover £ 6,200
Post Office £ 30,000
Price £128,000

Features

Well Fitted Self Service Convenience Store, Counter News, Confectionery, Tobacco, Full Free off Licence with Post office Local

SPACIOUS SALES SHOP probably in the region of 700 sq. ft. sales area with lino non-slip floor, suspended ceiling with lighting & well equipped including retail counter with electronic cash register, post office combination counter, 1-3.75m open cool display unit, 1-1.15m open cool display unit, 1 double door glass fronted display deep freezer, ice cream deep freezer, modern adjustable shelving etc.

Stockroom
Staff w.c. & wash hand basin
Kitchen

Small cellar

Turnover

WE ARE INFORMED the turnover averages £6,200/£6,400 p.w. in our opinion offering further potential to increase in the right hands. We are further advised that the gross profit is in the region of 25%. We understand the current post office income is in the region of £30,000 p.a. In addition the business is agents for the sale of on line national lottery tickets plus scratch cards & we understand this provides a further commission of approximately £70 p.w. The business also has a bus pass agency.

Staff

At present operated by a husband & wife team & no staff are employed.

Trading Hours

Monday - Saturday inclusive - 7 a.m. - 8.30 p.m.
Sunday opening - 8 a.m. - 4 p.m.

Accommodation

Available as an OPTIONAL EXTRA is a SELF CONTAINED FLAT over, with FULL GAS FIRED CENTRAL HEATING & in the course of modernisation, comprises:

1 Double Bedroom
Bathroom with bath, w.c. & wash hand basin
Lounge
Kitchen

As stated the flat is available as an optional extra on a shorthold tenancy at a rental of £1,250 per month

Tenure

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 16 years full repairing and insuring lease in respect of the shop premises at a rental of £20,000 p.a. exclusive of rates for the first 4 years with rent review at that time and thereafter every 4 years.

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £128,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 64,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote