Business for Sale in West Bromwich, West Midlands - POST OFFICE & CONVENIENCE STORE IN WEST BROMWICH. CORPORATE DISPOSAL - Leasehold: £19,995

Key Information

Ref
S33763K
Type
Retail Businesses: Convenience Stores
Location
England: West Midlands
Tenure
Leasehold
Status
For Sale
Annual Sales
£480,000 Inc Vat
Post Office Remuneration
£16,441
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Spacious & Well Fitted Store

c. 1400 Square Foot Sales Area

Includes Self Contained Living Accommodation

Leasehold Price £19,995

CORPORATE DISPOSAL

Description and Trade:

Having a prominent corner location in a small parade of shops in a residential area of West Bromwich, with roadside parking to the front and side of store.

As well as the Post Office trade the store sells a range of grocery items, news & off licence products etc. It also has National Lottery and ATM.

Premises:

The well-presented and spacious Sales Area ( c.1400 square foot) is well fitted throughout and has lots of refrigeration equipment.

Leading to a Kitchen, Office, three Stock Rooms, and w.c facilities.

Accommodation:

There is self-contained accommodation above the shop included which currently brings in extra income of £4,800 per annum.

Comments:

This business is staff operated which would give obvious benefit to an owner/operator.

Our Client Informs Us That:

Trading Information:

Year ended 30 Nov 2017

Gross Sales £481,320

PO Income £16,441

Gross Profit (including commissions & PO) £150,847

Part Year to Oct 2018 (47 weeks)

Gross Sales £415,992

PO Income £12,285

Gross Profit (including commissions & PO) £120,465

NB Retail sales exclude service commissions and include VAT.

Trading Hours:

6.00am – 10.00pm Monday to Sunday.

Tenure:

Leasehold. Held on a lease until 2028 at a present rent of £35,881 for the business and accommodation.

Price:

Very realistically priced at £19,995 plus stock at valuation for the lease, business, fixtures and fittings.

Deposit:

Successful bidders will be required to pay a non-refundable deposit to the vendor's solicitor, via their own solicitor, equivalent to £5,000 per transaction. The deposit will be set off against the agreed purchase price on completion of a sale. In the unlikely event that the vendor withdraws from a sale, deposits will be repaid in full. However, in the event that a purchaser reneges on the agreed terms and conditions of a sale and purchase, the deposit/s will be forfeited.

The Business:

The business currently trades under the ‘McColl’s’ banner and any purchaser will be expected to change the trading name.

Copyright © EM & F Group Limited 2019 - Company No: 03035561 - VAT: 631 4000 02