Newsagents for sale in Hackney

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Adam Warren (Jan 2017)
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Leasehold Price: £100,000 Annual Turnover: £312,000
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Business Description
Busy Trading Location
Annual Turnover £312,000
National Lottery & Oyster Top Up
Family Ran Business / No Staff
Genuine Reason For Sale
Alcohol Licence In Place
EPC - E
REF 6538 – Leasehold Newsagents, Convenience Shop & Off Licence

Blacks Brokers are pleased to bring to the market this leasehold newsagents, convenience shop and off licence located in a very busy and much sought-after area of Hackney, Greater London.

INTRODUCTION

Temple Palace has been trading on Hackney Road for over thirty years with our client in ownership since 2016. The business offers a range of convenience products and has an alcohol licence in place. Temple Palace is well known in this area due to its impressive trading history and has a good base of regular, local customers.

LOCATION

The business is located on Hackney Road in Cambridge Heath. This is a busy and much sought after area of East London that is well linked by the A10 and has excellent public transport links. Cambridge Heath Station is within walking distance along with Bethnal Green Underground. Other businesses in the immediate area include The RE Hotel London Shoreditch and The Post Office.

REASON FOR SALE

Our client has a lengthy commute each day which is proving difficult, meaning the business is offered for sale, presenting an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

The building is available on a competitive rent on a Full Repair and Insure lease (FRI lease). This is the most common form of commercial property lease. The current lease is fifteen years and began in 2007 at a cost of £346.15 per week.

BUILDING LAYOUT AND DESIGN

Temple Palace operates from the ground floor of a mid terraced property within a popular parade of shops and offices. The business has large branding and signage displayed with matching canopy cover. Inside, the shop is traditional in appearance with wall shelving, central gondolas and display fridges as required. To the rear are store rooms and toilet facilities.

STAFF

The business is currently operating with only our client and family members in employment.

FINANCIAL DETAILS

Temple Palace has traded solidly for over thirty years. We are advised that the business currently has annual turnover of £312,000. Full financial details are available upon viewing.

BUSINESS RATES

The business currently benefits from small business rates relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY

This leasehold business occupies a superb trading position and has established a good base of repeat customers. There is plenty of scope to develop the business further with the introduction of new product lines and a refurbishment. There is room to improve the food hygiene rating. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Fixtures:
Shelving

Racking

Till

Tobacco Gantry

Display Cabinets

Ice Cream Freezer

Fridges
Trading Hours:
Mon - Thur - 7am - 11pm
Fri & Sat - 8am - Up To 2am
Sun - 7am - 11pm

Tenure: Leasehold

Location Details: Hackney

Leasehold Term: Rent: £346.15 Per Week

Listed by: Blacks Business Brokers Limited

Find out more about this business opportunity.

 
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6538
Seller Reference:
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