Hilton Smythe welcomes to the market The Cabin. Established in the 1980’s our client has been successfully serving the local community since inception in 2015, with the business reluctantly coming to the market due to a family member’s ill health.
The Cabin is immaculately presented both externally and internally with stock clearly displayed throughout. Revenue is derived from the sale of newspapers, magazines, alcohol, confectionery, Oyster cards and convenience items. The business reports a healthy turnover of circa £231,000 per annum as of 2016 accounts. and increasing with a gross profit in the region of 29%.
The business generates a steady income from Paypoint services, Lottery sales, Oyster cards and News sheets with 5 delivery rounds in the vicinity. The business is licensed until 11.00pm each day, allowing for the potential to extend opening hours. A new owner may also wish to consider extending the retail area into the living accommodation on the ground floor to allow for additional product lines.
The Cabin also offers superb living accommodation with 4 bedrooms and large secure garden. Ideal for a family or if let out we believe the flat could generate an income of approximately 1,800 - £2000 per calendar month, which would cover the rent of the full property and business, making the overheads extremely low.
This is a superb business in this much sought after location and we urge early viewing to realise the full potential of this going concern.
The business is located on Barnehurst Road, a well presented street in Bexleyheath, Southeast London.
The Cabin is located in a prime trading location at the end of a popular parade of retail outlets with the benefit of parking directly to the frontage and bus stop within easy walking distance. The business sits within a busy residential area from which the business derives much trade.
Bexleyheath is easily accessible from the A220 with the station at Barnehurst providing an easy commute into the City centre, making the area a very popular place to live.
Stylish Tudor style end premise briefly comprising:-
Vibrant signage and we have been advised there is bay parking at the front of the shop with 7-8 spaces that our clients receive weekly rental of £10 a week.
Retail area including:- large open drinks chillers, central and wall display units, ice cream freezer, news and magazine units, lottery stand, fixed counter with pay point, lottery unit, cigarette gantry, till, store shelves and glass topped freezer.
Ground floor housing large kitchen with wall and base units, substantial lounge
3 x double beds, 1 x single and family bathroom
Large private garden to side and back laid mostly to lawn with 2 large storage sheds.
We are advised new windows have recently been installed throughout the owner’s accommodation. We have also been advised there is bay parking at the front of the shop with 7-8 spaces that they receive weekly rental on.
We are advised leasehold
Original lease length 10 years
10 years remain on the lease
Review period is 5 years
Rent is £16,500 per annum.
The business currently opens:-
Mon & Thurs 5:30am - 7pm
Tues, Wed, Fri 5:30 - 7:30pm
Sat: 8am - 7:30pm
Sun: 8am – 1pm
The business is owner run and managed.
The business reports a healthy turnover of circa £231,000 per annum and increasing with a gross profit in the region of 29%, as of 2016 accounts.
The business generates the below average weekly takings of:-
Paypoint/Oyster cards £1,000
Lottery £800 - £900, could be £1800 if rollover week.
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