For Sale

Well Known Convenience Store

Lewisham, City of London

£17,995 +SAV

Ref: B04574

Contact sales negotiator

Aidan Murphy

01204556301

Email Aidan Murphy

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Description

Hilton Smythe are delighted to welcome B & S News to the market.

B & S News is a well known convenience store which has been established for over 30 years and managed by our client since 2014.

This store prides itself on the level of service they provide to their customers, due to their ongoing commitment they benefit from 80% of their business being repeat customers from the local residential area and 20% passersby which is due to their prominent and convenient location.

B & S News provide a large variety of convenience goods including;

• Tea
• Crisps
• Milk
• Sweets
• Everyday toiletries
• Magazines
• Cigarettes

They also provide a lottery service, mobile pay-as-you to top-up and Oyster cards.

This profitable business is now being sold due to the owner wanting to concentrate on other business opportunities.

Scope to Improve;

• Advertising and marketing campaign
• Perhaps a loyalty scheme
• Add post office and parcel services

Tenure

Leasehold

We are advised that B & S News is being offered a Leasehold business, with 4 years remaining from the original 15 year agreement, however the owner has advised a potential brand new 15 years lease with rent of £18,000 per annum

Rates of £1,300 per annum can be offered to the new owner.

Hours

Monday - Saturday - 6:30 am -7:30 pm
Sunday - 7.00 am - 3.00 pm

Staff

The business is managed by our client along with one full-time employee

Financial Profile

B & S News generates an advised current turnover of £83,846 per annum with £63,183 gross profit and advised net profit of £26,195 with an adjusted net profit of £27,500

SAV is circa £2,000
Assets are £10,000

Location

B & S News is located in a residential area nestled within a small parade of shops along Manor Lane in Lee, the neighbouring shops include a Cafe and a hair salon.

Lee, also known as Lee Green, is a district of South East London, within the London Boroughs of Lewisham and Greenwich. It is located west of Eltham and East of Lewisham town centre.

B & S News is located 0.5 miles from Lee train station which provides a Southeastern service, calling at stations such as London Bridge, Charing Cross and Waterloo.

The business also benefits from restricted parking directly outside the store.

Premises

Full length windows and glazed doors to front creating a light airy and inviting interior.


Once in the premises, there is a chest freezer to the left which houses a selection of ice creams, further along the left-hand wall is the newspapers and magazines, to the right-hand side of the shop is the chiller unit which provides an array of soft drinks such as, milk, water, cans and bottles of pop.

The shop is split with a central aisle which leads to the rear of the shop where the counter is located and where the till system is kept, behind here is where the cigarettes are housed.

Past the counter is a doorway which leads to a very large storage area split into 5 rooms which includes a kitchen and shower room, so could easily be converted into a one bedroom home.

Equipment included in the sale of the business:

• 3 x till systems
• Chest freezer
• Display chiller
• Racking
• 6 x CCTV
• Remote electric shutters
• ADT alarm system
• Photocopier

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