Convenience Store for sale in Penge

Penge, South London


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This business is marketed by

Nationwide Businesses Ltd View more business for sale by this agent

Excellent main road trading position, densely populated residential, SOUTH EAST LONDON

WE ARE INFORMED the turnover averages £5,000 p.w. in our opinion offering further potential to increase in the right hands. Wholesale newsbill £550 p.w. Gross profit 22% approx. In addition the business is agents for the sale of on line national lottery tickets plus scratchcards and we understand this provides a commission of approx. £65 p.w. The business also has Oyster which we are advised provides a further commission of approximately £120 p.w.

We understand the premises are held on a secure renewable lease, the present lease having approximately 23 years unexpired at a rental of £12,000 p.a. exclusive of rates for the next 2 years, with ernt review at that time and thereafter every 4 years. (As will be appreciated with the current rental income of £9,600 p.a. in respect of the letting of the self contained flat, the net rental payable at the present time is only £2,400 p.a).

Uniform Business Rates: £2,000 p.a. approx.

RECOMMENDED FOR EARLY INSPECTION

The accommodation in the form of a SELF CONTAINED FLAT over with FULL GAS FIRED CENTRAL HEATING is at present let on a shorthold tenancy & provides a rental income of £9,600 p.a. however, we understand that vacant possession can be given on the completion, if required. The accommodation comprises:

2 Double Bedrooms
Bathroom with bath, wash hand basin
Separate w.c.
Large Lounge
Kitchen with fitted units
Roof Patio area

6 a.m. - 9 p.m. seven days per week

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £69,950 plus STOCK AT VALUATION (£25,000 approx. can be reduced)
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
Viewing Strictly by appointment.

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business information

Sale price: £69,950
Tenure : Leasehold
Status: Available
Sectors:
Convenience Stores
General Stores
Newsagents
Off Licences
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