Convenience Store with Off Licence in East London For Sale

Occupying a corner position, end of terrace, densely populated residential area, EAST LONDON

Turnover £ 3,750
Price £50,000

Features

Old Established Convenience Store with off Licence

DOUBLE FRONTED PREMISES WITH ELECTRIC SHUTTERS, tiled floor, sales counter, EPOS till, cigarette draw, modern adjustable shelving, 3 x open cool display unit, 2 x walls Ice Cream Freezer, scales, Vegetable stand, CCTV system (11 cameras, 1 monitor)

Basement, used for storage purposes.

Room
Kitchen
Bathroom with bath, w.c. and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £3,500 - £4,000 p.w. with a Gross profit of 30% approx.

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

INPOST £240 per quarter approx.

Staff

The business is at present operated by the Husband & Wife team

Trading Hours

7 Day week
MONDAY - SATURDAY 7 a.m. - 11 p.m.
SUNDAY 6 a.m. - 10 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 2013 with reviews every 4 years (next review 2029) at a current rent of £11,400 p.a.

We further understand that the landlord, subject to satisfactory references, is prepared to grant a new lease at terms to be agreed with a starting rent of £13,800.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2022, AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £50,000 plus STOCK AT VALUATION (£10,000 APPROX.)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 25,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote