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Popular Convenience Store East London

City of London, London
Leasehold Price:
£159,995
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
213239
Reference
6142 / Rightbiz

Details

    Next to Forest Gate Station

    Annual Turnover £750,000

    One Person Business

    Retirement Sale

    Parking Available for Customers

    Includes Lottery, Payzone & ATM

    EPC - D

Description:
REF 6142 – Leasehold Convenience Store
Blacks Business Brokers are proud to bring to the market this leasehold convenience store located in a very busy and much sought-after area of Forest Gate, London.

INTRODUCTION
London Sweets & Grocery has been trading on Woodgrange Road since 2005 with our client in ownership since opening. The business offers a range of grocery products, along with National Lottery, Payzone, Oyster tickets and free cash withdrawals. The business is very well-established and has a good base of repeat customers in addition to much passing trade in this superb trading position.

LOCATION
Situated on a busy main road, the shop is close to Forest Gate Station along with many other local shops and businesses. This area is very busy with good public transport links.

REASON FOR SALE
The business is only being offered for sale due to our client’s retirement.

LEASE
The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is 15 years with rent reviews every 3 years. The current lease began in 2018 at a cost of £30,000 per annum.

BUILDING LAYOUT AND DESIGN
London Sweets & Grocery is housed within the ground floor of a mid-terraced property within a parade of shops, businesses and residential flats. The business is well branded with clear, colourful signage displayed above a fully glazed frontage. Inside, the main retail area is well presented and well-stocked with goods displayed on wall shelving, central gondolas and within display fridges and freezers. The shop as wooden flooring throughout with till positioned to the back of the space. To the rear of the unit is a small stock room and the business also has use of the lower-ground floor. Each area is presented to a good standard and a full inventory is available on request.

STAFF
The business is currently operating with only our client in employment. The business would benefit from additional members of staff to meet customer demand in this busy area.

FINANCIAL DETAILS
Financial details are available upon a viewing of the business and the business has traded solidly over its trading history. The business generates an annual turnover of £750,000 with gross profits to be confirmed.

SUMMARY
This leasehold business is well-established and occupies a superb trading position. It delivers impressive weekly takings from multiple income streams. There is some scope to develop the business further with new product lines. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Opening Hours:
Monday to Saturday: 06:00 - 21.30 Sunday: 10:30 – 21:00


Weekly Rent:
£577 Per Week.
Listing Details
Leasehold Price: £159,995
Tenure: Leasehold
Sector: Convenience Stores, Newsagents
Financials
Annual Turnover: £750,000
Map
Location Statistics
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