Counter Newsagent and Off Licence in Barbican For Sale

Situated in a parade, densely populated residential and commercial area, EC LONDON BARBICAN

Turnover £ 7,000
Price £80,000

Features

Well Established Counter Newsagents Plus off Licence

SINGLE FRONTED PREMISES in the region of 300 ft² (excluding the basement) WITH ELECTRIC SHUTTERS and CANOPY. Wood strip floor, suspended ceiling with LED lighting. Air conditioning with hot air. Sales counter, EPOS till, cigarette gantry, 3m open cool display unit, ice cream freezer, modern adjustable shelving. CCTV system (6 cameras, 2 monitor).

Store room

Staff toilet with w.c. and wash hand basin

Basement (240 ft² approx), used for storage purposes.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000 p.w. with a gross profit of 20% approx.. Wholesale newsbill £2,000 p.w. WE ALSO UNDERSTAND that in addition to the turnover the business also enjoys a commission of:

NATIONAL LOTTERY £180 per week approx.
PAY POINT £135 per week approx.
ATM £1,000 per month approx.
BUS PASSES £70 per week approx.

Staff

The business is at present operated by the vendor with 2 full time staff employed.

Trading Hours

7 Day week
MONDAY - SUNDAY 7 a.m - 10 p.m

Tenure

The private landlord owns the Leasehold and subject to satisfactory references are prepared to grant a new SECURE RENEWABLE 16 years full repairing and insuring lease with rent reviews every 4 years at a rent of £20,000 p.a. for the first 4 years.

Business Rates from April 2022 £4,800 approx. (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 1999 AND OFFERED FOR SALE SOLELY DUE TO OWNERS RETIREMENT

Price

TO INCLUDE THE NEW SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £80,000 plus STOCK AT VALUATION (£30,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 40,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote