CASH OFFERS INVITED
PROOFS AVAILABLE FOR ALL WEEKLY TAKINGS inc POST OFFICE INCOMES (FORMAL VIEWING INSPECTION REQUIRED TO OBTAIN) No formal accounts are available. SOLD AS SEEN FOR QUICK SALE. plus SAV. (Currently carrying circa £12,000 in goods, and negotiable to clinch a deal)
Baker Payne are pleased to offer For Sale this extremely busy Leasehold confectionery, tobacco, news, convenience, and post office business, situated in a prime London high road location in Chelsea adjacent the A&E doors of the Chelsea & Westminster Hospital, with uber footfall, regular repeat and passing trade, having been in our clients' ownership for several profitable years now and the previous operators ownership in excess of 10 years.
For Sale due only to pressing family commitments and large commute, our client is looking for a quick sale by offering a huge discount against the usual valuation of this type of business.
Turnover (2019) currently averages £12,000 per week retail, and £2000 per month from the Post Office counter. (As per cashing up sheets and till returns) The turnover for the past 3 years has been a consistent £430,000 to £450,000 net pa.
Held on a 5 yearly renewable lease term subject to an annual rent of £85,000 pa, the business shows a gross profit margin of 40%, and recently benefited a £60,000 refurbishment and make over inside the last 2 years. Rates payable are currently £39,000 pa, although relief schemes may apply by consultation.
Circa 1150 SQFT | EPC Rated C
PRICED SENSIBLY & ACCORDINGLY for a swift sale and exit. (Cash buyers recommended only, as funding may be difficult without formal accounting information available)
Richard Payne viewed and valued this business & property, and will be pleased to discuss the opportunity in further detail, or to swiftly arrange a highly recommended viewing. (M) 07864 054440