For Sale

Large International Food Supermarket

London, City of London

£249,995

Ref: 14573 H

Contact sales negotiator

Aidan Murphy

01204556301

Email Aidan Murphy

Share this property
Share

Description

Hilton Smythe are delighted to offer to the market Asos International Food Supermarket, the modern supermarket opened in June 2017, by our clients who spent over £150,000 on the empty unit to create a modern European supermarket with halal butchers and in-house bakery.

The thriving supermarket offers a large shop frontage and enviable trading position, which will appeal to both the branded High St Supermarkets as well as new independent retailers looking to expand into the European range of products.

The business averages a weekly turnover of £10,000 per week, 35% from grocery / bakery, 25 % from the halal butchers, 10% confectionery, 10% fresh fruit, 10% dairy and 10% from cold drinks.

Our client currently uses 15 different European suppliers who deliver direct to the business and plans to increase the current lines by 100.

This is the largest European supermarket in the area and with the increase of European families and students now living around the business, will undoubtedly see turnover reach the £1 million level in the next 18 months .

Opportunity to add outside catering, supply to local restaurants and add alcohol sales.

Tenure

Leasehold

Renewable 10 year lease with Family Mosaic housing association with 9 years remaining paying £72,000 per year.

Hours

The business opens:-

7.00am to 12.00pm x 7 days a week

Staff

The business is owner run and managed with the assistance of the owner, 4 part time and 1 full time member of staff.

Financial Profile

Steady average of £10,000 per week, projected minimum yearly turnover target of £520,000, and gross profit at circa 36% and adjusted net profit of £70,000.

Nil business rates currently as in first year of trading

Location

Asos International Food Supermarket occupies a prominent trading position on the famous Old Kent Road, South East London.

The mayor of London recently designated The Old Kent Road as an ‘Opportunity area’ in the London plan with a multi-billion investment programme which will include 1000’s of new homes, new public spaces, offices, retail units and an extension to the Bakerloo line.

Berkeley homes have proposed more than 1000 flats and townhouses on a 5-acre former meat factory site on Malt Street, close to the east side of 140 acre Burgess Park. The business is in the heart of the new development zone.

Transport for London are working to extend the Bakerloo line, with 2 stations along the Old Kent Road which will raise both the areas profile and house prices. The Old Kent Road (A2) links the area of New Cross to Southwark and north to London Bridge into the city of London. All major bus routes pass directly outside the business connecting south east London to the heart of London, nearest tube station is Borough and mainline station South Bermondsey.

The new shop unit sits on the ground floor of a newly built housing association building with over 40 new affordable housing directly above and behind. There is metered parking in the streets directly behind the business.

Premises

Complete refurbishment to include -

New shop front, electric shutters, security alarm, CCTV with 15 cameras.
Service area - 2 epos tills and electronic scales, rear cigarette gantry and storage.
Retail area 1 - 2 x glasses topped ice cream freezers, 3 x large glass topped food display freezers and 2 x 5m open drinks chillers.
Retail area 2 - floor to ceiling grocery shelving to the left and right of the store and includes two similar sized units to the centre area which are both double sides shelved.
Staff toilet.
Office / secure storeroom.
Bakery - 2 x deck oven, Shaan tandoori oven, dough mixer, prep benches and worktop with storage and sink.
Butchers area - 2 x 2.5m,2 walk in chillers (1 for fruit and 1 for meat), 3m glass fronted display chiller, butchers block, stainless steel prep tables and stainless steel chiller cabinet, meat cutter, meat slicer, mincer, window open topped display chiller, 2 x double width upright glass fronted display freezers and 1 x single.

Read some of our helpful guides and blogs

Blogs

10 brilliantly designed restaurants in the UK

7th October 2016

As a Business Brokers, we’ve come across many restaurants all different sizes […]

Blogs

10 ways to advertise your business for free

28th May 2015

Advertising can be expensive, however when you’re just starting out or are […]

Blogs

4 things to consider when you sell a business

4th January 2018

Every major decision requires careful thought and consideration, and very few decisions […]

Blogs

4 ways to attract buyers to your Fish & Chip Shop

19th February 2018

Despite the ever-increasing range of fast food options available to us in […]