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Well Established Convenience Store

City of London, London
Leasehold Price:
£69,995
Status
FOR SALE
Advert ID
243349
Reference
B05246 / Rightbiz
Business
Hilton Smythe are delighted to present to the market a much loved newsagents and local convenience store, first established 50 years ago and recently purchased by our client just over 2 years ago. Due to family issues our client is reluctantly now selling the business.

The business comes with the added benefit of a new council owned 10 year lease in place as well as zero business rates payable in the current year.

The business offers a large selection of services and convenience items which include:

Newspapers, magazines and greeting cards

Lottery, lottery cards, Paypoint & parcel collection

Oyster cards, travel cards, stamps, stationery & photocopying

Elite vaping, cigarettes, mobile phone top up & accessories

Confectionery, crisps, loose sweets for children, soft drinks & ice cream

Grocery lines, dairy products, fresh bread & cakes

Household goods, frozen food lines, toiletries & pharmacy items

Large choice of alcohol lines including canned and bottled beers/lagers, wines & spirits

The business attracts a very loyal customer base, including local families and professionals as well as a very healthy passing trade form local businesspeople and tradesmen.

Any new buyer may look to extend the current opening hours as well as offer local deliveries to the already very good sales. Increasing the food to go lines including a takeaway coffee machine would add new sales.

Our client’s scheme of improvements over the last 2 years has resulted in a 15% growth in turnover which will undoubtedly continue in the forthcoming year.

Rarely businesses of this type with such low running costs comes to the open market and we strongly recommend early viewing to avoid disappointment.



Location
Terry’s News occupies a highly enviable trading position along a parade of community led shops on Dunton Road in Bermondsey, London.

This is the only independent newsagents within this large residential area, the business also benefits from metered parking directly outside.

Bermondsey is a thriving area offering both traditional family homes, newly converted warehouses and stylish riverside flats. There is an eclectic mix of cosy pubs, eateries and indie shops lining the village like Bermondsey Street including regular antiques markets and gourmet food stalls.

There are 2 popular schools within 5 minutes’ walk of the shop.

The area is accessed just off the busy A2 which links commuters from Kent into central London. Charing Cross is just under 4 miles.

Nearest tube station is Bermondsey



Premises
Ground floor - there are secure roller shutters to both the front aspect of the shop and to the rear access door.

  • Newspaper and magazine shelving, lottery stand, greeting cards stand
  • Large 3m open drinks chiller
  • Photocopier, 2 x glass topped display freezers
  • 2 x central display gondoliers, fixed shelving to right and left sides of the shop
  • Security alarm, CCTV and air con unit
  • Large raised service counter which includes till, card machine, lottery terminal, Paypoint with rear spirits shelving & cigarette gantry
  • Secure stockroom, staff kitchen area & toilet, rear access
Mezzanine level:

  • Purpose built storage area for back up stock
  • Private office


Tenure
We are advised there is now a new 10 year lease in place with Southwark Council currently paying just £6,400 per year.



Hours
MONDAY TO SATURDAY - 7am to 7pm
SUNDAY - 9am to 5pm




Staff
The business is run and managed by our clients only.



Financial Profile
The business generated a Turnover as of the 2019 accounts of £260,311, GP of £64,730 and an adjusted net profit of £44,349 (up £10,000 on the previous year)



Listing Details
Leasehold Price: £69,995
Tenure: Leasehold
Location: City of London, London
Sector: Convenience Stores, Newsagents
Financials
Annual Turnover: £260,311
Contact Agent
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Advert Reference: B05246 / Rightbiz
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Within 1 milei:
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