Ref 6172 - Leasehold Convenience Store & 2 Self Contained Flats with Rental Income Blacks Brokers are pleased to bring to the market this leasehold convenience store with two, self-contained flats located in a busy and much sought-after area of Levenshulme, Manchester. Introduction
Oasis Convenience Store has been trading on Stockport Road for many years, with our client in ownership since 2017. The business has firmly established itself within the local community and has gained a large base of regular customers. It is also very well placed for plenty of passing trade. The building has two, self-contained flats on the upper floors - both of which are currently let out and generating a combined income of £10,800 per annum, making the net rent for the business around £90 per week. Location
Situated on a busy main road, this superb trading position in Levenshulme is well linked by the M60 and A6. Free parking is available close by and public transport links are excellent. Reason for sale
The business is reluctantly being offered for sale due to our client's ill health. 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 ten years with rent reviews every five. The current lease began in 2017 at a cost of £297 per week. Building layout and design
Oasis Convenience Store is operating from the ground floor of a substantial three storey, mid-terraced property. The business is branded well with clear signage displayed above a glazed frontage. Inside, the shop is well stocked with a range of convenience products and offers services including National Lottery, Payzone, Paypoint and a free cash machine. The shop is well presented, with wall shelving, central gondolas and display fridges and freezers as required. To the rear of the retail area are two storerooms and a staff toilet. There is a private car park to the back of the building with space for one vehicle and an outbuilding currently used for storage.
The lease also includes two, self-contained flats - these are accessed directly from Stockport Road. 830A Stockport Road is a two-bedroomed flat with bathroom, kitchen, lounge and dining room and brings rental income of £500 per calendar month.830B Stockport Road is a one-bedroomed flat with open plan living room/kitchen-diner and bathroom. This brings rental income of £400 per calendar month.Both are currently tenanted. Staff
Our client works full time in the business with the assistance of one part-time member of staff in employment. Financial details
Oasis Convenience Store has traded solidly during its impressive trading history. The business generates an annual turnover of £400,000 with gross profits of £90,000. Full financial details are available upon viewing. Summary
This leasehold business is long established, with a range of options for a new owner. It delivers impressive takings from multiple income streams. There is plenty of scope to develop the business further with additional marketing and the introduction of new product lines. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £29,950.
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