Convenience Store and General Store in Essex For Sale

Situated in a small parade, unopposed trading position, residential area, Essex.

Turnover £ 7,000
Price £125,000

Features

Old Established Convenience Store with Huge Potential To Introduce An Off Licence

PLEASE NOTE THE NEWSPAPER SALES ARE NOT INCLUDED IN THE SALE

DOUBLE FRONTED PREMISES in the region of 1,080 ft² with lino floor, suspended ceiling with fluorescent lighting, sales counter, 2 x cash register, cigarette gantry, modern adjustable shelving, 2x open cool display unit, Coca-Cola fridge, drinks display fridge (glass fronted upright double-door), CCTV system (16 cameras, 1 monitor).

Stock room.

Kitchen.

Staff Toilet with w.c. and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000 p.w. with a Gross profit of 23% approx.

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

NATIONAL LOTTERY £40 per week approx.

It will be appreciated upon inspection that there is terrific potential to increase the sales by introducing alcohol subject to planning permission..

Staff

The business is at present operated by the vendor with the assistance of 5 part time staff.

Trading Hours

7 Day week
MONDAY - SATURDAY 6am - 5pm
SUNDAY 6am - 10am

It will be appreciated upon inspection that there is terrific potential for additional opening hours.

Outside

Shared rear parking

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (Council) granted for 3 years in November 2023 with reviews every 3 years (next review 2026) at a current rent of £9,636 p.a.

We further understand that the Council, subject to satisfactory references, is prepared to grant a New 10 year lease at a starting rent of £10,092 increasing by RPI yearly.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1992, AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

THE SALE EXCLUDES THE NEWSPAPER BUSINESS

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £125,000 plus STOCK AT VALUATION (£20,000 APPROX.)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 62,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote