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Well Established Newsagents Kiosk

Middlesex, London
Leasehold:
£55,000
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THIS BUSINESS IS NOW SOLD OR WITHDRAWN FROM THE MARKET
Further Details
Status
SOLD OR WITHDRAWN FROM MARKET
ReferenceC7714 / RightBiz
Advert ID63352
LocationMiddlesex, London
SectorNewsagents, Card Shops, Sweet Shops
TenureLeasehold
Leasehold Price£55,000
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Full Details
Features : Well established KIOSK selling counter news, confectionery, tobacco, soft drinks plus Oyster.

SPACIOUS KIOSK with shutter providing open front approx. 150 sq. ft. area. Display counter with confectionery display, electronic cash register, cigarette gantry (on loan), 2 upright glass fronted display fridges (1 on loan from Lucozade whilst the other we understand is owned), magazine display racks etc.

Location : Entrance to Tube Station, MIDDLESEX

Opening Hours : OPERATED ON A 5 DAY WEEK BASIS
MONDAY - FRIDAY INCLUSIVE - 6 A.M. - 6.30 P.M.
SATURDAY OPENING - 6.30 A.M. - 2 P.M.
NO SUNDAY TRADING

Turnover : WE ARE INFORMED the turnover averages £3,000 p.w. in our opinion offering tremendous potential for further increase in the right hands. Wholesale newsbill £600 p.w. Gross profit 25% approx. THE BUSINESS HAS OYSTER AND WE UNDERSTAND FROM THE PRESENT OWNERS THAT THEY ARE RECEIVING A COMMISSION ON AVERAGES OF APPROXIMATELY £400 P.W. IN ADDITION THERE IS PAYPOINT WHICH WE UNDERSTAND IS PROVIDING A FURTHER REVENUE OF APPROXIMATELY £20 P.W.

Tenure : We understand the premises are held on a secure renewable lease from London Transport, the present lease having approximately 2 years unexpired at a rental of £11,000 p.a. exclusive of rates. (We further understand that the lease contains a 6 months Break Clause in the event of London Transport deciding to redevelop).

It should be noted that this Kiosk as frontage to the main road and indeed is situated at the entrance to the Underground Station.

Uniform Business Rates: £1,280 p.a. approx. (after small business relief)

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Price : TO INCLUDE THE SECURE LEASE, GOODWILL, FIXTURES & FITTINGS £55,000 plus STOCK AT VALUATION (£6,000/£7,000 approx).
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT

Staff : At present operated by the vendor's nephew on a full time basis plus no further staff employed.
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