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Highly Rated Spar Convenience Store For Sale

City Of London, London, UK
Asking Price:
£224,950
Turnover:
£270,000
Net Profit:
Available on request

Business
Please quote reference B06659

Hilton Smythe is delighted to present to the market a newly refurbished Spar convenience store.

The modern Spar convenience unit was completely transformed by our clients in 2020 who purchased a very tired but well established convenience business.

Our clients have invested between £200,000 - £250,000 to create a modern and organised shop space which now stands out to any other similar business within the area.

As you can see from the business photographs attached, the attention to detail is outstanding and will allow any new owner the ability to walk straight and continue trading. The complete refit included -

New electrics/lighting
New flooring
New ceiling
New equipment installed throughout
New office, CCTV & security system

The business currently offers the following -

Fresh fruit and vegetables
Confectionery, crisp, snacks & cold drinks
Chilled beers, wines & spirits
Dairy products, sandwiches & bakery goods
Frozen food, household goods & personal care products
Fresh bean to cup coffees & ice cold slushes
Cigarettes, batteries

The advantage of being part of the Spar family is the many daily/weekly deals that keep customers coming in knowing they will always receive good value for money. In addition to the many special offers, being part of the Spar chain also comes with training and marketing support.

There is normally an excellent commuter footfall due to the location of two major underground stations however with many other businesses on the road they are experiencing reduced footfall as some people are still working from home.

The business is currently family run with the help of 1 part time member of staff.

The sale of the business includes the following -

5 x Large commercial double display fridges
1 x Double commercial display freezer
New lighting system throughout
New service counter/display unit
Bespoke display shelving units
Storage cages

Key selling points -

Very desirable location
Late trading licence in place
Business handover offered
Potential to achieve £10-15,000 weekly sales
Long lease term in place
Well known & trusted brand
Large basement area

Very rarely do Spar convenience stores of this high standard or location come on to the open market and we therefore highly recommend early enquiry to avoid disappointment.

The price placed on the business is a combination of the high level of investment and future growth potential.

Location
The Spar Shop occupies a very busy trading position in south London.

The business is surrounded by an excellent choice of destination retailers, coffee shops, estate agents, interior stores as well High Street brands such as the NatWest, Post Office, Nando’s & Betfred.

The shop sits between two very busy underground stations.

There are available parking spaces in the adjacent street.

Premises
Ground floor -

Large fully fitted retail space
Office
Toilet

Basement -

Large stockroom
Office
Dry Store

*** There is a shared rear garden space

Tenure
We are advised that the business is being sold on a Leasehold basis, with 13 years remaining on the 15 year lease. The rent is £2,666 per month.

Hours
The business hours are -

Monday – 7:00am – 11:00pm
Tuesday – 7:00am – 11:00pm
Wednesday – 7:00am – 11:00pm
Thursday – 7:00am – 02:00am
Friday – 7:00am – 02:00am
Saturday – 7:00am – 02:00am
Sunday – 7:00am – 11:00pm

Staff
We are advised that the business is run and managed by our clients, with the help of 1 part-time member of staff.

Financial Profile
We are advised as per the 2021 accounts, the business generated a turnover in the region of £270,000. Full financials can be made available upon further request.

Please quote reference B06659

Property Information

Property:

Leasehold

Contact Hilton Smythe

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