Convenience Store with Off Licence in East London For Sale

Situated in a Parade, excellent main road trading position, residential, office and commercial area, EAST LONDON

Turnover £ 14,000
Price £225,000

Features

Convenience Store and off Licence


SINGLE FRONTED PREMISES, in the region of 900 ft², WITH ELECTRIC SHUTTERS - CCTV (8 cameras), industrial non slip vinyl flooring, suspeded ceiling with LED lights.

Sales counter, electric cash register, 3 open display chillers, ice cream freezer, 2 additional freezers, modern adjustable shelving.

Staff cloakroom (with toilet and wash hand basin.)

Basement, in the region of 550 ft², used for storage

Turnover

WE ARE INFORMED by the owner the turnover currently averages £14,000 p.w. with a Gross profit of 30% approx. Tremendous scope to introduce newspapers, fresh fruit and vegetables.

Staff

The business is at present operated by the vendor with 3 full time staff employed.

We are informed the wage bill averages £1,500 p.w. approx.

Trading Hours

7 Day week

24 HOURS OPENING

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 2024 with reviews every 5 years (next review 2029) at a current rent of £42,000 p.a. plus VAT

Business Rates from April 2024 £5,000 approx. after small business relief (Please contact local authority to confirm)

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £225,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 112,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote