Old Established Motor Spares & Accessories Business For Sale

Business description

Outstanding opportunity to acquire an old established business which has been in the same hands for the past 30 years and there are genuine reasons for sale.

SPACIOUS SALES SHOP comprising 2 intercommunicating shops approx. 1,500 sq. ft. ceramic tiled floor, shelving, display stands, glass display cabinets, counter, computer system for stock control.

Large storage area with racking
Office
2 w.c's plus 1 wash hand basin

Property information

Property:

Freehold

Lease terms:

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 15 years full repairing and insuring lease at a rental of £20,000 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years.

Uniform Business Rates: £5,000 p.a. approx.

AS STATED THIS OLD ESTABLISHED BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 30 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Location:

Situated in a parade, excellent main road trading position, densely populated residential and commercial area, S.E. LONDON

Other information

Expansion potential:

WE ARE INFORMED the turnover averages £6,000 p.w. in our opinion offering further potential to increase in the right hands. Gross profit 30% approx.

Reasons for selling:

OFFERS INVITED TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS in the region of £60,000 plus STOCK AT VALUATION (£100,000 approx). SUBSTANTIAL LOAN TO AN APPROVED APPLICANT The vendor is also prepared to sell the freehold shop, together with the business. ASKING PRICE FOR THE FREEHOLD, GOODWILL, FIXTURES & FITTINGS £350,000 plus STOCK AT VALUATION (£100,000 approx). SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT The 2 flats over are also available as an optional extra. Flat No. 1 with full gas fired central heating, comprises: 1 Double Bedroom, Bathroom with bath, w.c. and wash hand basin, Lounge Kitchen and is at present let on a shorthold tenancy and provides a rental income of £650 per month. Asking price £149,000, subject to contract. Flat No. 2 with full gas fired central heating, comprises: 2 Bedrooms (1 double, 1 single), bathroom with bath, w.c. and wash hand basin, Lounge, Kitchen. Also at present let on a shorthold tenancy and provides a rental income of £850 per month. Asking price for flat no. 2£170,000, subject to contract.

Trading hours:

Monday - Saturday inclusive - 8.30 a.m. - 5.30 p.m.
Sunday opening - 10 a.m. - 2 p.m.

Financing available:

SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT