Business for Sale in Cambridge, Cambridgeshire CONVENIENCE STORE & OFF LICENCE - CAMBRIDGE CITY CENTRE (CB1)

Leasehold Price £175,000

Key Information

Reference
T35427E
Tenure
Leasehold
Status
For Sale
Region
Cambridgeshire
Sector
Convenience Stores
Weekly Sales
£13,000.00 Exc. VAT
Rent Payable
£49,000 per annum. We understand that a service charge of £887 + VAT is payable per quarter. The purchaser will be responsible for the landlords costs and fees in connection with the assignment of/or grant of a new lease.
Business Rates
£9,730 per annum. This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.
Accommodation
No

Business Information

  • Prime City Centre Position
  • Significant Turnover
  • Large Basement Storage
  • Great Location Next to Bus Station & Park
  • Very Busy Area
  • 8:00am to 11:00pm Premises Licence
  • Parking Available Separately to Rear
  • Long Established
  • Scope to Extend Opening Hours
  • Call to Arrange Viewing

AGENTS NOTE

Sale to ideally be by way of a share purchase of the existing company on a cash free/debt free basis, for the benefit of the goodwill, fixtures, fittings & equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

PARTICULARS

We are delighted to bring to the market this exceptionally well positioned convenience store and off-licence in the centre of Cambridge, next to the bus station and between Parkers Piece and Christ’s Pieces parks. With many local businesses, residents and students in the immediate vicinity this has to be considered an ideal location for this type of business.

Long established and with many benefits including a strong weekly turnover, this is clearly going to attract much interest and we would expect it to be sold quickly. Please therefore contact us at your earliest opportunity should you require further information or to arrange a viewing.

THE BUSINESS ITSELF

The business has been in place for many years with the current owner having taken over back in 2009. Because of this, it is very well known and well utilised by the local community as well as those visitors coming into the city, especially by bus via the neighbouring bus station.

We are advised by the vendor that the weekly turnover is in the region of £13,000 and rising now people are returning to the city in significant numbers, with pre-Covid turnover being in excess of £20,000 per week. There would appear to be scope to increase this further, particularly given the premises licence which allows for the sale of alcohol from 8:00am to 11:00pm Monday to Saturday and 10:00am to 10:30pm on a Sunday. Currently the shop closes of an evening at 7:00pm and does not open either on a Sunday.

The shop sells a traditional range of products with an emphasis on drinks, tobacco, Lotto and confectionery as well as a smaller selection of newspapers, magazines and convenience products.

PREMISES | ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The shop stands in the centre of a small parade of other businesses with a striking red glazed and sign written frontage which ensures that it catches the eye of passing customers.

Inside the retail area measures approximately 8.9m deep by 4.2m wide and provides space for a selection of display units. As well as the main centre console for confectionery and snacks there is a large 6 door alcohol drinks fridge as well as 2 open fronted soft drink fridges. There is also an ice cream chest freezer and the usual display shelving for newspapers and magazines. The service counter has 2 EPOS till points with a Lotto display and tobacco cupboard behind. The retail unit benefits from a suspended ceiling, inset lighting, wood effect flooring, air-conditioning and CCTV.

To the rear of the premises is a smaller room of 4.4m x 4.9m overall to include w.c and a kitchenette area with sink and shelving. There is a large double door stainless streel fridge within this room as well as a secure steel door to the rear yard. We understand that parking is available to the rear by separate arrangement and cost however the business does have rights for delivery of goods to the store.

The premises also benefits from a very useful large dry, full height, basement store room, some 10m x 4.4m, with a further room to the back of 3.4m x 4.4m. This is ideal for storage and as use as a managers office.

FURTHER INFORMATION

REFERENCE NUMBER

T35427E.

OPENING HOURS

7:00am to 7:00pm Monday to Saturday. Closed Sunday.

TENURE

Leasehold. The existing 10 year lease runs from the 24/6/14. A new lease may be negotiable with the landlord if required.

RENT PAYABLE

£49,000 per annum. We understand that a service charge of £887 + VAT is payable per quarter.

The purchaser will be responsible for the landlords costs and fees in connection with the assignment of/or grant of a new lease.

RATES PAYABLE

£9,730 per annum.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

EPC

The Energy Performance Certificate for the property shows a ‘D’ rating and a score of 82.

PRICE

£175,000.

For the benefit of the goodwill, fixtures, fittings & equipment. The sale will ideally be by way of a share purchase of the existing company on a cash free/debt free basis. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING

Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE

Finance may be available to suitable purchasers.

BUSINESS TO SELL?

Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING

We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?

Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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