Butcher shops for sale in City of London

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Butchers Business That Has Been In The Area For 34+ Years

City of London, London, England

  • Leasehold Price: £475,000
  • Turnover: £887,064
  • Gross Profit: £218,395
Seller Reference: B05701
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Business Description
 
 
 
 
 
 
 
 
 
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Seller Reference: B05701
Request Details
Business Description
Business
Hilton Smythe welcomes to the market Baldwin's Butchers, a butchers and delicatessen that has been in the area for 30+ years and owned by our client, who is now looking to retire, since 1985.

The business is being sold along with the lease of the two-storey flat above which has 5 letting rooms, communal lounge, kitchen and bathrooms. The flat generates an income of circa £34,500 per annum on an HMO basis.

Baldwin's is a master butcher and delicatessen that supplies to the trade as well as to many retail customers. The income that is generated to the trade is in the region of £9,000 to £10,000 per week and there are many clients including local cafes and restaurants in the west end, a full list of these clients will be given to the new owner of the business.

Baldwin's specialises in fresh and free-range meat and eggs and sells around 200 – 250KG of freshly prepared sausages each week. Restaurants take around 300 burgers per week from Baldwin's and the experience and customer service has meant that Baldwins has been voted a top 3 butcher with write ups in the Evening Standard.

Retail customers have also complimented the business online by giving 4.7/5* Google reviews, 5* Yelp reviews and 4.8/5* reviews on the business’ Facebook page. The business is also being sold with the business website.

As our client is looking to retire there is scope for development by canvassing for further outside catering leads as our client has not pushed these in several years and has been known to turn down new clients if they are out of the area.

However, Baldwin's is a great purchase for many reasons including:


  • Income from the flat above.

  • Long established in the area.

  • Known across North London and into the City.


Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Baldwin’s Butchers is located on Green Lanes, Harringay, London N4. Baldwin’s is in a parade of similar retail shops and upper parts on the West side of Green Lanes, A105 in Harringay. The local area is vibrant with a large variety of independent and multiple traders, restaurants and bars, all bringing in a high footfall to this densely populated part of North London.

There are rail services to London Moorgate via Harringay station and Manor House tube station is approximately a quarter of a mile south of the business. There are several bus routes that run along Green Lanes taking passengers in and out of the city centre.

Baldwin’s sits in a corner position with prominent signage and a canopy above each window display.

Premises
Baldwin’s is set in a corner position on Green Lanes, Harringay. To the ground floor is the shop area with cold store and staff area behind. The total square footage of the shop is 947. There is a yard and a 2-storey outbuilding at the end of the yard, the outbuilding has a total square footage of 657.

Above the shop is a two-storey flat, that is currently let on an HMO basis, the flat has a total square footage of 1,435.

The shop is entered from Green Lanes and has window displays to the front and side, both having canopies over.

The main shop area, which has a 5* hygiene rating, has a large service counter with display chiller displaying a variety of meats. Behind this area are 4 large blocks, mincer, scales, air conditioning unit, shelving and access to a 4m x 3m chiller.

In the foyer of the shop is a display chiller for the delicatessen goods including cheeses, meats etc. there is also pasta, tomatoes, eggs etc displayed in this area.

Behind the main shop is a lobby that leads to the staff area with CCTV, tea making facilities, preparation table access to the courtyard to the rear and access to the sausage preparation room with sausage making equipment.

To the rear of the shop is a courtyard area with side access and access to the rear outbuilding that is used for storage with the ground floor area being a walk-in chiller.

The flat is set over 2 floors, on the first floor there are 3 rentable bedrooms, a kitchen and 2 bathrooms. On the second floor are 2 rentable rooms and a communal lounge. It is our understanding that the tenants in the flat are on one month rolling contracts.

Tenure
We are advised the business is being sold as a leasehold business opportunity with a 16-year lease from 2011 and an annual rent of £50,000, the lease is for the shop, the flat, the yard and the outbuilding.

Rates are currently paid at around £12,000 per annum.

Hours
Monday - Saturday: 7am – 6pm

Sunday: 7am – 4pm

Staff
The business is run and managed by our client, with the help of 6 members of staff.

Financial Profile
Baldwin’s Butchers generated an advised turnover of circa £887,064 as of the 2018 accounts, with a gross profit of 24.6% and an adjusted net profit of £76,044.

The average turnover for the last 3 years has been £954,585 with an average adjusted net profit of £85,206.

The assets being sold with the business are conservatively worth in the region of £15,000.

The average stock value is in the region of £42,000.

The average income from the flat, which does not appear on the accounts, is in the region of £34,500.

Tenure:
Leasehold
Listed by:
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