Convenience Store and Off Licence in North London For Sale

Situated in a parade, excellent main road trading position, densely populated residential & commercial area, NORTH LONDON

Turnover £ 12,500
Price £200,000

Features

Well Fitted Convenience Store and off Licence

DOUBLE FRONTED PREMISES in the region of 1,285 ft² WITH DOUBLE DOORS, ELECTRIC SHUTTERS & CANOPY, tiled floor, suspended ceiling with LED lights, sales counter, EPOS till, cigarette draw, modern adjustable shelving, 2x drinks display fridge (glass fronted upright four-door), open cool display unit (2.5 metres), ice cream freezer, ice freezer, 3x Coca-Cola fridge, wine fridge.

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

Kitchen

Stock room

Basement in the region of 415 ft², used for additional storage purposes.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £12,500 p.w. with a Gross profit of 22% approx.

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

PAY POINT £12.50 per week approx.
ROYAL MAIL Parcel, recently opened
OYSTER £50 per week approx.

Staff

The business is at present operated by the vendor with 2 full time staff & 3 part time staff.

Trading Hours

7 Day week
24 hours a day

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 15 years in 2010 with reviews every 3 years (next review 2025) at a current rent of £26,000 p.a.

We further understand that the landlord, subject to satisfactory references, is prepared to grant a new lease at terms and rent to be agreed.

Business Rates from April 2024 £880 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2023, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £200,000 plus STOCK AT VALUATION (£45,000 APPROX.)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 100,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote