Convenience Store for sale in West Midlands

West Midlands


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This business is marketed by

Nationwide Businesses Ltd View more business for sale by this agent

Occupying a corner position, busy road, densely populated residential area, WEST MIDLANDS

WE ARE INFORMED the turnover averages £2,000 p.w. in our opinion offering further potential to increase in the right hands& especially with the introduction of additional stock. Wholesale newsbill £200 p.w. Gross profit in the region of 20% approx. We are further advised that the business is also agents for the sale of on line national lottery tickets plus scratch cards & we are advised this provides a commission of approximately £70 p.w.

The vendors own the freehold and subject to satisfactory references are prepared to grant a new 16 years full repairing and insuring lease in respect of the shop with 2 flats over at a rental of £20,000 p.a. for the first 4 years, with rent review at that time and thereafter every 4 years. THE PROPOSED TENANT WOULD ALSO BE RESPONSIBLE FOR THE UNIFORM BUSINESS RATES EACH YEAR. Alternatively should the 2 flats not be required, the vendors subject to satisfactory references are prepared to grant a new 16 years full repairing and insuring lease in respect of the shop only (excluding the 2 flats) at a rental of £12,000 p.a. exclusive of rates for the first 4 years, with rent review at that time and thereafter every 4 years. We understand the vendor is also prepared to consider letting 1 of the flats at terms and rent to be agreed, if required.

Uniform Business Rates: £740 p.a. after small business relief

THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 8 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

REDUCED FOR IMMEDIATE SALE

The accommodation comprising 2 SELF CONTAINED FLATS:

Flat No. 1 at present let on a shorthold tenancy and providing a rental income of £100 p.w. however, we understand that vacant possession can be given on completion, if required. The flat comprises:

2 Double Bedrooms
Bathroom with bath, w.c. and wash hand basin
Lounge
Kitchen with fitted units and electric cooker

Flat No. 2 is also at present let on a shorthold tenancy and provides a rental income of £70 per week, however, again we understand vacant possession can be given on completion, if required. The flat comprises:

1 Bedroom
Bathroom with bath, w.c. and wash hand basin
Lounge with fitted kitchen area

It will be appreciated upon inspection that this flat could be extended into the first floor restroom/stockroom, if desired.

Monday - Saturday inclusive - 7.30 a.m. - 10 p.m.
Sunday opening - 10 a.m. - 9 p.m.

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £15,000 plus STOCK AT VALUATION (£15,000/£10,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

OR COMPLETE WITH THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS £250,000 plus STOCK AT VALUATION (£5,000/£10,000 approx).
SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT
Viewing Strictly by appointment.

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business information

Sale price: £15,000
Tenure : Leasehold
Status: Available
Sectors:
Convenience Stores
Newsagents
Off Licences
Supermarkets
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