Retail premises for sale in Eastern Avenue, Ilford IG2

£54,995
Retail premises for sale
Interested in this property? Call +44 1204 351867 * or Request Details

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Property description

Business
Hilton Smythe welcomes to the market Mayuras Food & Wine, a well-stocked convenience store that specialises in Indian foods along with everyday essentials and alcohol.

Due to the high Asian population in the area the store takes around £8,000 per week and this can be extended on as PayPal and National Lottery have only just been added to the business along with a card machine. The business is also being sold with a 2 bedroom flat, located directly above the premises which is currently let on an assured shorthold tenancy at £1000 per month.

Mayuras sells products from the following ranges and more besides:
Indian food and spices
Everyday essentials
Confectionery and crisps
Soft drinks
Alcohol
Tobacco products
Household goods

The business was taken over by our client in 2019 and our client has added new lines to the stock and undergone a minor refurbishment programme, however, due to recent family news is reluctantly looking to sell and is marketing at a lower price than the figure paid.

Reviews website

There are many reasons to buy Mayuras including:
£8,000 per week turnover without Lottery, PayPal and card machine
High footfall area
Densely populated area
Main road location close to schools
There is scope for further development of the business by considering:
The addition of a butcher’s counter, no other local butcher
Addition of social media site to promote the business
Addition of a website to promote the business

Hilton Smythe highly advise early viewing to avoid disappointment.

Location
Mayuras Food & Wine is a convenience store that is located on Eastern Avenue, Ilford, close to a major junction, many bus routes, schools and in a highly populated residential area.

All these factors along with the diverse range of local shops bring a high footfall to the area.

There has been a convenience store on this site for over 10 years and our client is looking to sell due to family reasons.

Premises
The business is located on Eastern Avenue, which is the main A12 leading into Ilford.

There is a canopy to the front of the shop covering the outside sales area which also has shelving for fruit and vegetables, this is slightly inset into the shop with a lockable shutter.

The entrance door takes you into the well-stocked shop with 3 aisles of double sided shelving units. The floor is tiled and there is and air conditioning system.

To the front left of the shop is the service counter with tobacco gantry behind, till, card machine and confectionery stand to the front.

To the left of the shop is multiple shelving for alcohol, the aisles are filled with tins, jars, cereal, biscuits, Indian products, baby products as well as many other lines. There is a large open display chiller for drinks, an enclosed drinks fridge, further chillers and several freezers. Within the shop there is a small under stair stock room and to the rear for the rear of the shop are two further display areas.

To the left rear is a large area with shelving for different rice and spices etc and a glass door that leads to a large walk in chiller with shelving for fruit and vegetables.

To the right rear there are many display freezers and further shelving, this area is mainly designated for household goods. The toilet is located off this area. There is a door to the rear courtyard which is used for storage and there is one allocated parking space here which is for both the shop and the flat above.

The flat is a 2 bedroom flat with kitchen, lounge and bathroom, the flat has double glazing and gas central heating via radiators. The flat is currently let to a family at £1000 per annum on an assured shorthold tenancy.

The premises have CCTV with 7 cameras that can be remotely operated.

Tenure
We are advised the business is being sold as a leasehold business opportunity with a 26 year lease from 2017 and an annual rent of £26,000 to include the 2 bedroom flat, which pays rent at £1,000 per month, £12,000 per annum.

Our client informs us that they pay business rates at approximately £5,000

Hours
Monday - Saturday: 7am – 11pm
Sunday: 8am – 10.30pm

Staff
The business is run and managed by our client, with the help of 2 members of staff

Financial Profile
Mayuras Food & Wine generates an advised turnover of circa £8,000 per week, giving an annualised figure of around £400,000

Arrange Viewing

For more information about this property, please contact
Hilton Smythe Commercial, BL1 on +44 1204 351867 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Hilton Smythe Commercial, and do not constitute property particulars. Please contact Hilton Smythe Commercial for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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