CTN Wanstead E11

Price:

Leasehold - £45,000

Turnover:

Seller Ref:

T26513LN

Location:

London

Business Type:

Retail businesses

See Other:

Newsagents for sale in London
Retail businesses for sale in London

Description:

THE BUSINESS:

LOCATION

Situated in the highly desirable Wanstead High Street close to all amenities and with excellent travel links with North Circular M11 nearby and close to two central line stations together with bus stops close by.

DESCRIPTION

Sale due to poor health this well presented CTN with tremendous potential to improve upon sales as there is no commission income. Aluminium frontage glazed with single door and electronically operated shutters. Internally the shop measures approx 400 sq ft comprising retail area. magazine and greeting card racks and serving counter together with tobacco gantry. The shop also sells stationary and cold drinks as well as Ice cream. To the rear are an office area. kitchenette. WC and stock room and door to side entrance with single garage that is leased separately and parking space for a vehicle. Full inventory available.

THE BUSINESS

Run by owner plus assistance from his wife. Owned for only 3.5 years and reluctantly being sold due to ill health however established as a newsagent for many years. The business enjoys an excellent reputation with local clientele which includes many retired people. Accounts to 31st March 2011 show turnover of £181.989 and GP of £40.646. The news bill is £2.000 pw and there are several paper rounds. There is considerable potential to improve on these figures as the owner has not felt up to introducing an off licence element or even introducing such basics as Oyster card. Top up or Paypoint. increasing the hours or adding to the lines sold. The shop is therefore operating at a bare minimum level and this is reflected in the price.

HOURS OF OPENING

7am to 5 pm Mon-Sat. closing 1pm on Sunday

TENURE

Rent 10.200 pa. Rates £4.100. 4 year reviews on renewable lease with next review in 2013

Trading Hours:

7am to 5 pm Mon-Sat. closing 1pm on Sunday

Accommodation: