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Thriving Convenience Store in Sunderland for Sale

Sunderland, Tyne and Wear
Status
FOR SALE
Advert ID
267985
Reference
5703 / Rightbiz
0161 763 5000
Leasehold Price: £99,950
Annual Turnover: £374,935
    Established Since 1984

    **Latest Year End Accounts To 31 March 2019**

    Annual Turnover (Year End 31.03.2019) £374,935

    Gross Profit (Year End 31.03.2019) £64,390

    Accounts Available After Viewing

    Large and Loyal Customer Base

    Well Linked by the A1 and A1231 Transport Routes

    Multiple Income Streams

    Positioned on a Busy Road

    Parking Available

    Retirement Sale

    EPC - E

Description:
REF 5703 – Leasehold Convenience Store

Blacks Business Brokers are proud to bring to the market this leasehold convenience store located in the much sought after area of Sunderland, Tyne & Wear.

INTRODUCTION
Kens Londis Store has been trading since 1984, with a similar business at this location for over 33 years. During that time, the business has firmly established itself within the local community and gained a large and loyal customer base along with an excellent reputation.

LOCATION
Sunderland is a large city in Tyne & Wear. The area is well linked by the A1 and A1231. Lincoln Avenue is located in the Silksworth area, this is a densely populated and much sought-after area within Sunderland. The business is positioned on this busy road, close to local parks, schools, churches and the cricket club. Parking is available directly outside.

REASON FOR SALE
Kens Londis Store is only being offered for sale due to retirement.

LEASE
The building will be available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease.
A new lease will be offered with the business sale, which will be 10-20 years in length with rent reviews every 3 years and running at a cost of £346 Per Week

BUILDING LAYOUT AND DESIGN
Kens Londis Store is housed within a large, purpose built retail unit with 4 parking spaces. This single storey unit is already fitted with the standard “Londis” banner and branding. Inside, the retail area is fitted with mounted shelving, wall shelving, central gondolas and display fridges and freezers. There is a single point sales counter and a National Lottery stand in place. To the rear of the unit is a large stock room with kitchen and staff toilet. All areas are fitted with tiled flooring and strip ceiling lighting and are well presented, finished to a high standard.

STAFF
Kens Londis Store is currently operating with four, part-time members of staff.

FINANCIAL DETAILS
Financial details are available upon a viewing of the business and Kens Londis Store has traded solidly over its trading history. The business generates an annual turnover of £374,935 including pay point with no rates payable and gross profits of £64,390. Most customers are from the local area as one would expect, with some passing trade due to this prime location.

SUMMARY
This leasehold business is well known and popular in this area. A new owner would benefit from the long trading history in place and the large customer base already established. There is plenty of scope to develop the business further with a change of opening hours to meet local demand for business and ideally, this proposition would suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations, thus saving on wage costings and boosting profits further. Early viewings are strongly advised.

Fixtures & Fittings:
Chiller Units
EPOS Till
Air Con
CCTV
Display Units


Opening Hours:
Mon - Sat - 6am - 8.30pmSun - 8am - 8.30pm


Weekly Rent:
£346 Per Week. Weekly Rent:
£346 Per Week.
Listing Details
Location: Sunderland, Tyne and Wear
Marketed By: Blacks Business Brokers Limited
Sector: Convenience Stores, Off Licences
Contact Agent
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Agent Name: Upgrade to view
Advert Reference: 5703 / Rightbiz

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