Well Established Off Licence in Upper Edmonton For Sale

Situated in a parade, excellent trading position, residential, office and commercial area, NORTH LONDON UPPER EDMONTON

Turnover £ 7,000
Price £75,000

Features

Well Established off Licence & Confectioners

SINGLE FRONTED PREMISES in the region of 440 ft² with ELECTRIC SHUTTERS. Tiled floor, suspended ceiling with spotlights. Sales counter, EPOS till, cigarette gantry, 4.5m open cool display unit, 3m open cool display unit, modern adjustable shelving. CCTV system (6 cameras, 1 monitor).

Staff toilet with w.c. and wash hand basin.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £7,000 p.w. with a gross profit of 26% approx.

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

NATIONAL LOTTERY £150 per week approx.
OYSTER £200 per week approx.
PAY ZONE £30 per week approx.

Staff

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

Trading Hours

7 Day week
MONDAY - SUNDAY 6 a.m - 10 p.m

Accommodation

THE SELF CONTAINED ACCOMMODATION with Gas Fired Central Heating, Double-glazed windows, at present let on a shorthold tenancy providing a rental income of £1,500 per month. The accommodation comprises:

2 Bedrooms (1 double, 1 single)
Lounge
Kitchen
Bathroom with bath, w.c. and wash hand basin

Outside

Parking space for 1 car.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease from a private landlord, granted for 15 years in 2010 with reviews every 5 years (next review 2025) at a current rent of £25,000p.a. (As will be appreciated with the current rent of £18,000 from the accommodation the rent payable at the present time is only £7,000 p.a).

We are advised the landlord is prepared to grant, to an approved applicant, a new 20 year lease at an initial rent of £25,000 pa and rent reviews every 5 years.

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

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2020 AND IS SOLELY OFFERED FOR SALE, DUE TO THE VENDORS OTHER BUSINESS INTERESTS

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £75,000 plus STOCK AT VALUATION (£30,000 approx)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 37,500 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote