Confectioners for sale in Chingford

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Imran Ahmed (Nov 2014)
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Leasehold Price: £135,000 Weekly Turnover: £11,000
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Business Description
Very well established Franchise Convenience Store is for sale in Chingford, Essex. Business is based in small parade of shops and surrounded by dense residential properties. This business is offered on a secure lease with 19 years remaining on a 20 years lease and passing rent is £18,000pa. Vendors are looking for a Premium in region of £135,000 + SAV for goodwill and leasehold interests.

Business is being run with help from staff and generating a turnover of £9,000 - £11,000 per week (unconfirmed) with the business provides Lottery, PayPoint, Western Union, Oyster Card, parcel service, grocery, newsagents, household, ice cream sales, and frozen goods sales.

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Description

Very well established Franchise Convenience Store is for sale in Chingford, Essex. Business is based in small parade of shops and surrounded by dense residential properties. This business is offered on a secure lease with 19 years remaining on a 20 years lease and passing rent is £18,000pa. Vendors are looking for a Premium in region of £135,000 + SAV for goodwill and leasehold interests.

Business is being run with help from staff and generating a turnover of £9,000 - £11,000 per week (unconfirmed) with the business provides Lottery, PayPoint, Western Union, Oyster Card, parcel service, grocery, newsagents, household, ice cream sales, and frozen goods sales.

Call now to view or discuss further

Location & Surroundings

This Franchise Convenience Store is located in Chingford which is a large suburb of London, England. Chingford now forms part of the north-east London Borough of Waltham Forest and is located approximately 10 miles (16 km) northeast of Charing Cross. Chingford is served by a railway station which is the terminus of a branch line from Liverpool Street station in the City of London. There is also a station at Highams Park.

The immediate surrounding areas are built up with dense residential properties which results in a strong community ties and demand for local trade. The business is situated on a promenade and benefits from close proximity to pharmacies, general stores, takeaway restaurants and Overground Station.

Property Description

This build premises is a double fronted retail unit spread over the ground floor as follows:

Description sqm sqft
Frontage 9.91m 32.51ft
Front Retail 68.75sqm 740.01sqft
Rear Storage 26.26sqm 282.66sqft
Office 6.41sqm 68.99sqft
Staff WC

The facilities include CCTV, ADT alarm system, and alcohol licence.

Business Description

Very well established Franchise Convenience Store is being run with help from staff and generating a turnover of £9,000 - £11,000 per week (unconfirmed) takings with the following additional service breakdown:

1) Lottery: £1,500 pw

2) Paypoint: £15,000 pw

3) Oyster Card: £12,000 pw

4) Western Union: £2,000 - £3,000 pw

5) Cash Point Commission: £7,000 pw

6) Parcel Collection Service: £200pm

The business also provides grocery, newsagents, household, ice cream sales, and frozen goods sales.

Opening Times & Staffing

The retail store is open from Monday to Friday 00:60 to 22:00, Saturday 07:00 to 22:00 and Sunday 07:00 to 22:00 and this owner managed business with part-time and full-time staff.

Lease Terms & Rates

The business is held by lease with an initial lease term of 20 years from 2014 with an unexpired term of 19 years and is subject to a four-yearly rent review period. The current passing rent is £18,000 per annum.

The current rateable value is £20,750 with effect from the 2010 ratings list. Interested parties are to make their own enquiries in to the business rates from the local authority.

Premium

The Business Owners are a premium of £135,000 for the leasehold interest, goodwill and fixture and fittings.

Legal Costs

Ingoing tenant to pay reasonable Landlords’ legal costs.

Viewings Arrangements

Viewings highly recommended. If you are interested in viewing this property please contact your agent at ORE on 02084729090.
Trading Hours:


The retail store is open from Monday to Friday 00:60 to 22:00, Saturday 07:00 to 22:00 and Sunday 07:00 to 22:00 and this owner managed business with part-time and full-time staff.


Tenure: Leasehold

Leasehold Term:

The business is held by lease with an initial lease term of 20 years from 2014 with an unexpired term of 19 years and is subject to a four-yearly rent review period. The current passing rent is £18,000 per annum. The current rateable value is £20,750 with effect from the 2010 ratings list. Interested parties are to make their own enquiries in to the business rates from the local authority.

Website:

Downloadable Documents

Listed by: Oakville Real Estates
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