Business for sale

Business description

Location this business is located in east london.


Turnover we are informed the turnover averages £10,000 p.w. In our opinion offering tremendous potential for further increase in the right hands. Wholesale newsbill £1,400/£1,500 p.w. In addition, we understand the business receives a commission of approx. £100 P.w. In respect of paypoint and a further commission of approx. £60 Per month in respect of the sale of bus passes. We are further advised that the trading and profit and loss accounts year ending 31st may, 2007 showed £359,135 with a gross profit of £50,687.

Price to include the new lease, goodwill, fixtures & fittings £89,950 o.n.o. Plus stock at valuation (£25,000 / £30,000 approx).
Substantial loan to an approved applicant

Features this old established business has been in the same hands for the past 18 years and is now solely offered for sale due to the vendor's semi-retirement.

The shop has recently been all modernised and well fitted at considerable expense approx. 3 Years ago.

Single fronted sales shop with double door, ceramic tiled floor, suspended ceiling with fluorescent lighting. 2 Air conditioning units. Sales area in the region of 750/800 sq. Ft. 3 Greeting card display stands with drawers, ice cream deep freeze (owned), large glass topped chest display deep freeze, 3 upright glass fronted drinks display fridges, 1 upright double door drinks display fridge, open cool display unit, 2 centre display gondolas, modern adjustable shelving, counter, 2 electronic cash registers, cigarette gantry (on loan) etc.

Rear office/store
staff cloakroom with w.c. And wash hand basin

Basement suitable for storage purposes

Staff the business is at present operated by a husband and wife team with the assistance of 1 full time staff.

Opening hours monday - saturday inclusive - 6 a.m. - 7 P.m.
Sunday opening - 6.30 a.m. - 2 P.m.
We are further advised that the business closes halfday on all bank holidays.

Tenure the vendor owns the freehold and subject to satisfactory references is prepared to grant a new 16 years full repairing and insuring lease at a rental of £14,500 p.a. Exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years.

Uniform business rates: £3,200 p.a. Approx. + Water rates

As stated the business has been in the same hands for the past 17 years and is now solely offered for sale due to the vendors semi-retirement.

Personally inspected and highly recommended

Must be seen to be fully appreciated


reference : c6899