Business for sale

Business description

Location this business is located in east london.


Turnover we are informed the turnover averages £2,500 p.w. In our opinion offering terrific potential for further increase, especially with additional opening hours. Gross profit 40% approx.


Price to include the secure lease, goodwill, fixtures & fittings £29,500 plus stock at valuation (£15,000 approx).
Substantial loan to an approved applicant


Features spacious double fronted sales shop approx. 800 Sq. Ft. Sales area, carpeted, fluorescent lighting. The equipment includes adjustable shelving, display gondolas, counter, electronic cash register etc.

Small office
large stockroom at rear
staff w.c. And wash hand basin

Staff the business is at present operated by a lady vendor with the assistance of staff.

Opening hours at present operated on a strict 6 day week basis
monday - saturday inclusive - 9 a.m. - 5.30 P.m.
No sunday trading

In our opinion there is tremendous potential for additional evening opening and indeed for sunday opening

Accommodation the accommodation in the form of a self contained maisonette over, double glazed and with full gas fired central heating, is at present let on shorthold tenancy and provides a rental income of £12,000 p.a. However, we understand vacant possession can be given on completion. The accommodation comprises:

5 Bedrooms (3 doubles, 2 single)
bathroom with bath, w.c. And wash hand basin
separate w.c.
Lounge
kitchen


Tenure we understand the entire premises are held on a new 15 years full repairing and insuring lease from november, 2004 at a rental of £23,000 p.a. Exclusive of rates for the first 5 years, with rent review at that time and thereafter every 5 years. (It should be noted that with the rental income from the accommodation over, the net rental payable at the present time is only £11,000 p.a. Exclusive of rates).

Uniform business rates: £6,000 p.a. Approx. + Water rates

The business has been in the same hands for the past 15 years and there are genuine reasons for sale.

Personally inspected and highly recommended


Reference : M2367