Convenience Store for sale in West London

Chancery Lane, West London


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This business is marketed by

Nationwide Businesses Ltd View more business for sale by this agent

Situated in a terrace, densely populated residential area, LONDON, WC1

WE ARE INFORMED the turnover averages £4,750 p.w. in our opinion offering tremendous potential for further increase, especially with the introduction of the sale of wines, beers & spirits, subject to obtaining the necessary Off Licence. Wholesale newsbill £350 p.w. Gross profit 20% approx. The business is also agents for the sale of on line national lottery tickets plus scratch cards & we understand this provides a commission of approximately £80 p.w. The business also has Oyster which we understand provides a further commission of approximately £40 p.w. In addition there is Paypoint which we understand provides a further revenue of approximately £45 p.w.
We are further advised that the sales year ending 31st March, 2014 showed £173,692 with a gross profit of £41,257 (including commission received of £7,256).

We understand the premises are held on a secure renewable lease from a private landlord, the present lease having approximately 3 years unexpired at a rental of £15,000 p.a. exclusive of rates for the remainder of the term. We understand that subject to satisfactory references, the landlord is prepared to grant a new 10 years lease at a rental of £17,500 p.a. exclusive of rates for the first 5 years with rent to be agreed thereafter.

Uniform Business Rates: Nil payable after small business relief

THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 11 YEARS AND THERE ARE GENUINE REASONS FOR SALE

PERSONALLY INSPECTED AND HIGHL RECOMMENDED

REALISTICALLY PRICED FOR EARLY SALE

Monday - Saturday inclusive - 7 a.m. - 7 p.m.
Sunday opening - 7 a.m. - 3 p.m.

TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £29,995 plus STOCK AT VALUATION (£15,000/£20,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT
Viewing Strictly by appointment.

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business information

Sale price: £29,995
Tenure : Leasehold
Status: Available
Sectors:
Convenience Stores
General Stores
Supermarkets
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