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Retail premises for sale

£54,999

London E18, UK

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Property description

Ref 5459 – Convenience Store & Off Licence

Blacks Brokers are proud to bring to the market this leasehold convenience store and off licence located on High Road in East London.


Introduction


This business has been trading here for over 30 years, our client recently took ownership and completed a superb refurbishment to the shop. The impressive trading history ensures a fine and solid foundation for any new owner.


Location


This area of London is popular with commuters and residents alike. This is a busy and densely populated area with high passing trade.


Reason for sale


This business is reluctantly offered for sale due to health issues.


Lease


The building is available on a competitive rent on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial property lease. The current lease is 20 years which began in late 2016 and costs £20,000 per annum. Please note that there is currently a tenant in the first floor living accommodation (detailed below) paying £14,400 per annum which means the lease has a net cost to the business of £6,600 for as long as the tenant remains in place.


Building layout and design


This business is positioned perfectly in a busy area, with local schools, churches, health centre and other local businesses close by.The business is housed within a large, two storey terraced retail unit within a busy parade of shops. The shop floor is approximately 850 square feet in size. There is a store room, kitchen and toilet to the rear of the shop area and a small, enclosed garden.
The business is housed within the ground floor.
On the first floor is a self contained, two bedroomed flat comprising of lounge, kitchen and bathroom. All areas are presented to a high standard with good quality fixtures and fittings.


Staff


The business currently employs one part time member of staff, with the vendor being there full time


Financial details


Financial details are available upon a viewing of the business. The business is currently generating weekly takings of £7,500 coming from general shop sales, groceries and alcohol sales with strong gross profits. Tobacco sales are between £2,000 - £2,500. In addition there is a strong and reliable rental income of £1,200 per calendar month from the self contained, two bedroom accommodation on the first floor.


Summary


This is an excellent opportunity to purchase a recently refurbished and extended, fully licenced convenience store on a busy main road in an affluent area of East London. Early viewings are strongly advised.
Business: £54,999.

Please quote ref: 5459

Property info

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Nearby transport

  • South Woodford (0.6 miles)
  • Woodford (0.8 miles)
  • Highams Park (1.1 miles)
  • London City Airport (6.7 miles)
  • London Stansted Airport (21.8 miles)
  • London Heathrow Airport (22.4 miles)
  • East India Pier (6.5 miles)
  • North Greenwich Pier (6.7 miles)
  • Canary Wharf Pier (6.8 miles)

Nearby schools

View all schools in Redbridge
  • Churchfields Junior School (0.1 miles)
  • Winston House Preparatory School (0.1 miles)
  • Churchfields Infants' School (0.2 miles)
  • Waltham Forest College (1.4 miles)
  • Sir George Monoux College (1.5 miles)
  • Beacon Business Innovation Hub (1.6 miles)
  • St Aubyn's School (0.3 miles)
  • Woodford County High School (0.6 miles)
  • Woodbridge High School (0.6 miles)
Note: Distances are straight line measurements

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For more information about this property, please contact
Blacks Business Brokers, BL9 on +44 161 937 5978 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Blacks Business Brokers, and do not constitute property particulars. Please contact Blacks Business Brokers for full details and further information. The Running Costs data displayed on this page are provided by Zoopla to give an indication of potential running costs based on various data sources. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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