Old Established Counter Newsagents and Convenience Groceries Store For Sale

Business description

SINGLE FRONTED MEDIUM SIZED SALES SHOP approx. 12ft frontage x 24ft depth. Recently refurbished and partly refitted. Laminated strip floor, fluorescent lighting. The equipment includes counter, electronic cash register, ice cream deep freeze (owned), 1 upright double door glass fronted display fridge (owned), 1 additional double door drinks display fridge (on loan from Coca Cola), 1 single door drinks display fridge (on loan from Pepsi Cola), shelving etc.

Small Stockroom
Staff w.c. and wash hand basin

In addition there is a cellar suitable for storage purposes

Property information

Property:

Leasehold

Lease terms:

The vendors own the freehold and subject to satisfactory references, is prepared to grant a new 15 years full repairing and insuring lease in respect of the shop with accommodation over at a rental of £13,000 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years. (Alternatively if the living accommodation is not required, the vendors, subject to satisfactory references, are prepared to grant a new 15 years full repairing and insuring lease in respect of the shop only (excluding the accommodation) at a rental of £7,800 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years).

THIS OLD ESTABLISHED BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 8 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

RECOMMENDED FOR EARLY INSPECTION

Living accommodation:

The accommodation comprises: 2 Double Bedrooms Shower room with shower, w.c. and wash hand basin Kitchen The 2 roomed accommodation is at present let to students on a shorthold tenancy and provides a rental income per room of £160 per month plus b

Location:

Situated in a parade of shops, main road trading position, residential and student area, not far from University and Hospital, WEST MIDLANDS

Other information

Expansion potential:

WE ARE INFORMED the turnover averages £4,000/£4,500 p.w. in our opinion offering tremendous potential for further increase, especially with the introduction of the sale of wines, beers and spirits, subject to obtaining the necessary Licence. Wholesale newsbill £200 p.w. Gross profit 20% approx. In addition the business is agents for Payzone and we understand this provides a further income of approx. £25/£30 p.w. We understand the business also has a Western Union Money Transfer Agency.

Reasons for selling:

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £25,000 plus STOCK AT VALUATION (£10,000 approx). SUBSTANTIAL LOAN TO AN APPROVED APPLICANT OR COMPLETE WITH THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS £225,000 plus STOCK AT VALUATION (£10,000 approx). SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Trading hours:

Monday - Friday inclusive - 7 a.m. - 7 p.m.
Saturday opening - 7 a.m. - 6 p.m.
Sunday opening - 10 a.m. - 4 p.m.
It will be appreciated upon inspection that there is potential for additional opening hours.

Financing available:

SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.