The Semi-Detached Premises, being one of a pair of shops, are held on lease from an Housing Association which we are advised was granted in February 2009 for a term of 10 years at a current rent of £11,000 per annum.
NB. There are two Flats which the owners rent out for £850 per calendar month & £650 per calendar month (total £17,400 per annum) thereby, in effect, creating a profit rent for the Shop of £6,400 per annum.
The property, probably built in the 1930’s, comprises:-
Double Fronted Shop (approx. 540sq.ft.). Outside:- Garage. Standing area for two cars. Garden area.
Private Entrance to:-
a. Self-Contained Flat above (currently sub-let on an Assured Shorthold Tenancy at £850 per calendar month - £10,200 per annum).
b. Ground Floor Flat (currently sub-let on an Assured Shorthold Tenancy at £600 per calendar month - £7,200 per annum).
Main Services Installed.
We are advised that Takings average around £3,000 weekly including wholesale news bill of about £950 weekly (eight morning paper rounds - computerised system). Sales include commissions received from Camelot National Lottery, National Express Bus Tickets & PayZone / Phone Top-Ups. NB. There is no opportunity for an Off Licence to be added to this business as the shop next door is licensed for this purpose and Landlord will not agree to this shop selling alcohol.
The business is run by working partner together with boys for the morning paper rounds whose wages are covered by the delivery charges.
Price required for goodwill, lease, tenants fittings, fixtures, utensils and equipment, etc. £25,000 STOCK EXTRA AT VALUATION
Situated in a residential area towards the western outskirts of the prosperous Berkshire Thameside Town of Reading.
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