Convenience Store and Post Office in East London For Sale

Situated in a terrace, densely populated residential area EAST LONDON

Turnover £ 5,000
Post Office £ 24,000
Price £84,500

Features

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

SPACIOUS SALES SHOP 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 £5,000 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 £24,000 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 - 7.30 a.m. - 8.00 p.m.
Sunday opening - 9 a.m. - 3 p.m.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 16 years in 2022 with reviews every 5 years (next review 2027) at a current rent of £15,000 p.a.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2022 AND OFFERED SOLELY FOR SALE DUE TO THE VENDORS' PARENTAL RESPONSIBILITES TO THEIR YOUNG FAMILY.

RECOMMENDED FOR EARLY INSPECTION

Price

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £84,500 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Finance

Subject to status, you maybe able to borrow up to £ 42,250 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote