Retail premises for sale in London, London EC4V

£40,000
Retail premises for sale
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Property features

  • Busy central London location with heavy footfall
  • Income c. £5,000 - £5,500 per week with high gp
  • Limited trading hours though choice
  • Owner run/ Retirement sale

Property description

Reference - 47601

Description
St Paul’s Tobacco is a well-established, traditional newsagent and convenience store located right in the heart of Central London, within easy reach of St Paul’s Cathedral.

The business benefits from heavy passing footfall during the day and is situated amongst other independent retailers along with a number of food and drink led establishments.

Both St Pauls and Blackfriars underground train stations are within approx. 0.3 and 0.5 miles away.

The business is only open Monday to Friday through choice and stocks a good selection of every day goods along with beers, wines, spirits, newspapers and magazine titles.

We have been advised that the business generates an income in the region of £5,000 to £5,500 per week with good gross margins plus additional commissions from Collect Plus.

We have been advised that the business has been run under the current ownership since approx. 2007 and is now only being offered for sale due to our clients wish to retire.

Given the location this is an ideal purchase for a young and energetic family who can maximize the profits or an existing operator who is looking to expand in to a prime Central London location.

Sales
We have been advised that retail sales currently average £5,000 to £5,500 per week with high gross profit margins.

Additional Sales
Oyster and Lotto sales are in the region of £1,500- £2,000 per week along with commission for Click & Collect +.

Accounts
Current records and accounts can be inspected when viewing.

Trading Hours
Monday – Friday 06:15 – 18:00 Closed Saturday and Sunday through choice

Staff
Managed by the owners.

Building External
Operating from the ground floor of a corner plot period property with good exterior signage.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

Building Internal
Compact retail area with ample shelving and central carousal. Modern chiller for soft drinks plus upright fridge for beers and wines. CCTV and one retail till.

Whilst compact, the business stocks a good range of every day goods, newspapers and magazines.

The business also benefits from Collect Plus parcel service which generates a commission each week.

Residential Accommodation
There is no residential accommodation for owners/management available.

Tenure
We are advised that the property is held on a 20 year lease which commenced in 2007.

The rent is currently under review with a proposed rent of £50,000 per annum (correct as advised on 07.12.19). Rent reviews are at 5 yearly intervals.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

Arrange Viewing

For more information about this property, please contact
Kings Business Transfer, PR2 on +44 1772 913303 * (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 Kings Business Transfer, and do not constitute property particulars. Please contact Kings Business Transfer 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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