Old Established Convenience Store in East London For Sale

Occupying a corner position, excellent main road trading position, residential, office and commercial area, EAST LONDON

Turnover £ 3,500
Price £55,000

Features

Old Established Convenience Store with off License

DOUBLE FRONTED PREMISES in the region of 450 ft² WITH ELECTRIC SHUTTERS, tiled floor & laminated strip floor, suspended ceiling with fluorescent lighting, sales counter, EPOS till, cigarette draw , open cool display unit (1.75 metres), 2 x drinks display fridge (glass fronted upright double-door), glass topped deep freeze, modern adjustable shelving, CCTV system (5 cameras, 1 monitor).

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

Turnover

WE ARE INFORMED by the owner the turnover currently averages £3,500 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:

NATIONAL LOTTERY £75 per week approx.
Oyster £40 per week approx.

Staff

The business is at present operated by the 2 partners with the assistance of 1 part time staff.

Trading Hours

7 Day week (off-licence timings from 7am to 2:00am)
MONDAY - SATURDAY 7am - 9pm
SUNDAY 10.30am - 4pm

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 2014 with reviews every 5 years (next review 2029) at a current rent of £15,180 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 IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS.

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £55,000 plus STOCK AT VALUATION (£7,000 APPROX.)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 27,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote