TV And Audio Retail Business In East London For Sale

Business description

Long established business with a turnover of approximately £1,249,998 pa, gross profit approximately 19%, reconstituted net profit approximately £107,673 pa. Busy High Street location in densely populated area. Outstanding business opportunity.

Property information

Property:

Leasehold

Location:

LOCATION
This business has been located in this High Street location for approximately 30 years and is well established with in the local area. The premises are located in Walthamstow London E17. The premises occupies a corner plot in one of the busies locations in the area. Walthamstow is situated approximately 8 miles east of the city of London. It is our opinion that this location offers an excellent business opportunity.

BUSINESS PREMISES
The business premises consist of a corner shop retail unit with a full length L-Shaped window display. With a centrally situated customer door leading to a retail area measuring 21.72m x 8.33m (1950sqft) approximately. To the rear of the premises there is further storage, office, car parking, ladies and gents staff toilets and various other rooms with in the premises offering overall an exceptionally large retail unit.

BUSINESS
This business has been trading in the same location for approximately 30 years and offers a turnover of approximately £1.6 million pa. We are informed that the gross profit is approximately 18% with a reconstituted profit currently of approximately £145,000 pa. This successful business trades in the retail and wholesale of domestic appliances including fridges, freezers, cookers, microwaves, televisions, washing machines, including a range of brand names including Panasonic, Samsung, sony, Hotpoint, etc. It also sells a range of smaller electrical items including kettles, DVD's etc.

HOURS
The business is currently open 6 days per week closed Sunday.

STAFF
The business is operated by one working owner with the assistance of two full time sales staff.

RENT
We are informed that the current rent is approximately £30,000 pa.

RATES
We are informed that the current rates are approximately £11,500 pa, however any potential purchaser should check with the local authority to established the current rateable value and charges.

LEASE
We are informed that a new 15 year lease was signed in 1996 and is due to expire 2011.

STOCK
The current stock at value is approximately £142,000. However any potential purchaser wishing to reduce the current stock this can be done by negotiations.