Business for Sale in Penge - Newsagents with Premises Off Licence and Accommodation Potential, SE London - Leasehold: £75,000

Key Information

Ref
T31543SY
Type
Retail Businesses: Newsagents
Location
England: Surrey
Status
For Sale
Weekly Sales
£5,500 Ex Vat
Accomodation
2 Bedrooms
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EM&F are delighted to offer for sale this long established newsagents and greetings card business in South East London.

A long established newsagent (counter news only – weekly wholesale newsbill is around £600) with drinks, confectionery, tobacco, stationery, gifts and also a very substantial range of greetings cards. The business also has lottery, Paypoint and Oyster Cards. The business owner has also successfully applied for a premises licence to retail alcoholic drinks. 

At present weekly sales are in the region of £5,500 to £6,000 and the high profit margins on greetings cards means that the advised average gross profit margin on sales is a very impressive 28%.

In addition we are advised that commissions on Oyster, Lottery and Paypoint are currently averaging some £1,000 per month.

Rent payable is currently £24,000 and Business Rates £6,000.

The premises consists of a two storey building with ground floor retail area of some 1,000 square feet together with first floor storage, accessed via the store.

With a fully glazed double fronted shop front, the smart premises are extremely well presented with eye catching signage and in excellent condition.

Inside the shop the extensive retail area is well laid out and fitted out to a very high standard indeed with solid wood display units. The floor consists of solid tiles whilst the modern suspended ceiling has the benefit of inset lights and a feature area.

The range of equipment includes air conditioning, 2 electronic tills with touch screens, 16 greeting card display stands with drawers, 2 display gondolas, 2.5m open cool display cool drinks unit, quality glass display cabinets for gifts.

The first floor storage area has the potential in our opinion to be converted to residential and indeed most of the other premises in the same row have done this. Some work would be required to create a new entrance at the rear of the premises. This of course is subject to necessary planning permission.

PRICE:    £75,000 to include the benefit of the Lease, Goodwill, Fixtures, Fittings & Equipment, plus stock at valuation. 

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