Convenience Store and Off Licence in East London For Sale

Situated in a parade, main road trading position, densely populated residential area, EAST LONDON

Turnover £ 11,500
Price £170,000

Features

Self Service Stores, Full Free off Licence, National Lottery & Parcel Service

SINGLE FRONTED PREMISES, in the region of 550 ft², WITH ELECTRIC SHUTTERS, CCTV (10 cameras), Tiled floor, suspended ceiling with LED lighting.

Sales counter, EPOS cash register, 2 large open display chillers, chest freezer, dairy fridge, modern adjustable shelving, etc.

2 Stockrooms

Staff cloakroom with toilet and sink.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £11,500 p.w. with a Gross profit of 28% approx.

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

NATIONAL LOTTERY £80 per week approx.
PARCEL PLUS £150 per week approx.

Staff

The business is at present operated by the vendor with 4 full time staff and 1 part time staff. We are informed the wage bill averages £1,250p.w. approx.

Trading Hours

7 Day week
MONDAY - THURSDAY 8 a.m. - 1130 p.m.
FRIDAY & SATURDAY 8 a.m. - Midnight
SUNDAY 8 a.m. - 11.30 p.m.

Outside

Garden.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 20 years in 2019 with reviews every 5 years (next review 2029) at a current rent of £14,800 p.a.

Business Rates from April 2024 £1,000 approx. after small business 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, GOODWILL, FIXTURES & FITTINGS £170,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 85,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote