Established Catering Supplies Business In Valuable Freehold Property For Sale

Business description

Superb business, investment & potential redevelopment opportunity in rare freehold.

An established and profitable 'turnkey' catering supplies business with over 900 clients and A1 use in high street shop premises with warehouse, recently refurbished office, basement, loading bay with vehicular access & 4 flats above generating £27K rental income. Valuable rare freehold (3875 sq ft) with scope to extend warehouse to 3 floors for flats, offices, parking makes this a superb business, investment & redevelopment opportunity.

Property information

Property:

Freehold

Living accommodation:

Upstairs there are 4 flats on the first and second floors comprising: Flat 1: First floor studio (rear) with open plan kitchen and bathroom with shower. Flat 2: First floor studio (middle) with kitchen and bathroom with shower. Flat 3: First floor studio (front) with double bedroom, separate kitchen and bathroom with shower (recently refurbished) Flat 4: Modern second floor studio with open plan kitchen, bathroom with shower and velux skylight roof windows (recently refurbished) All first floor studios are presently occupied on assured shorthold tenancies. We are advised that the flats generate circa £27,000 rental income per annum.

Location:

This business is North London’s leading centre for all catering supplies. Based in bustling Tottenham, it is ideally positioned for supply and delivery to London and surrounding areas. Situated on the junction of Philip Lane and Dongola Road, within close proximity of both Tottenham High Road (A10), one of the major arteries to the City and Green Lanes, hub of a vibrant and diverse community, the business has excellent transport links with Seven Sisters and Turnpike Lane which are only a short distance away.

Premises details:

General Building Information
This business is located in a prominent corner property with entrances at the front and side. The building is of brick construction which has been rendered externally under a tiled roof. The property comprises a shop unit with A1 use, refurbished side office, basement and warehouse to the rear with vehicular access.

Ground Floor Details
We are advised that the internal area of the ground floor is approximately 3875 sq ft in total. The Main Shop area which is on the left hand side occupies approximately 1000 sq ft and has a cashier/payment area in the middle. As one would expect with the nature of this business, there is an extensive array of supplies on display but they are attractively and efficiently organised throughout on metal shelving which makes it easy to find and replenish items. The shop provides access to the Basement (approximately 570 sq ft) which is another useful storage room in addition to the warehouse. On the right hand side of the shop is the Office (approximately 325 sq ft) which has just been refurbished. The warehouse (approximately 1070 sq ft) lies to the rear of the shop and provides an excellent storage facility for the business’s stock portfolio. There is a staff WC and small kitchen area with sink. It has vehicular and pedestrian access via a yard with roller shutters.

Size in square feet:

3,875

Other information

Planning consent:

We are advised that planning permission has been granted to convert the side office into a self-contained studio flat and that there is potential (STPP) to extend the warehouse by up to 3 storeys for flats, offices & parking. Potential for change of use also to A2 or A3 (STPP).

Reasons for selling:

The business is very established and first opened over 30 years ago. As a result, it has over 900 longstanding clients on its books. Although clients tend to come from Central and Greater London, the business does have a professional website and we understand buyers come from as far a field as Blackpool, Bournemouth and even Falkirk in Scotland. We understand the business currently turns over approximately £850,000 per annum net of VAT with circa £109,000 adjusted net profit (inclusive of the rental income). The property also benefits from an advertising billboard on the side elevation of the premises which generates £1,700 pa with 14 years remaining. Apart from its longevity and loyal customer base, the business also benefits from a unique, lucrative rolling exclusivity agreement with a leading porcelain manufacturer. The owners have thoroughly enjoyed their time running the business but are now looking to relocate abroad permanently. This is a superb business, investment & potential redevelopment opportunity for an individual, couple or family to own an easy-to-manage yet highly profitable business, or a catering supplier who is looking to expand, or a property investor who is looking for a mixed use investment, or even a hotelier or restaurateur looking to branch out and vertically integrate (i.e. own their own supplier)