Asking price: £60,000

Sales revenue: £232,000

Net profit: £18,299

Fixtures value: Undisclosed

Stock value: Undisclosed

Business description
Unique opportunity to acquire one of North London's leading bike shops situated in the heart of Finchley Central and close to the underground station

Within 7 years, the owners have built a busy and popular business, stocking a wide range of bicycles, accessories and components from major manufacturers such as Giant, Mongoose, Dawes, Pashley and Dahon. It also offers both repair and rental services. The established business, which has its own website, enjoys excellent repeat trade from a loyal following of customers within a 5 mile radius of the shop. Its year end turnover for 2007 (30th March) was £232,000 with £18,299 Net Profit. Having run the business since 2000, the owners have decided it is now time to pursue other goals and interests. There is considerable potential for a new owner to increase the current annual turnover by introducing online sales. This business is likely to appeal to an individual or couple who are bike enthusiasts and wish to turn their passion into a full time business. It is also likely to be of interest to an existing bike shop owner who wishes to expand his business into other territories.

OFFERS ARE INVITED IN THE REGION OF £60,000 FOR THE LEASEHOLD INTEREST TO INCLUDE TRADE FURNITURE, FIXTURES AND FITTINGS (AS SPECIFIED IN THE INVENTORY) AND GOODWILL. STOCK TO BE TAKEN OVER AT VALUATION.

Years established: 7

Property: Leasehold

Lease terms
We understand that the property is held on a renewable 15 year lease which commenced in 2000 and has 7 years remaining. The passing rent is £30,000 pa and there are rent reviews every 5 years. The rates payable are £7,507 pa.

Location
Finchley Central is in the Church End Finchley area of Finchley, North London. Its London Underground station is on the High Barnet branch of the Northern Line, between West Finchley and East Finchley stations and is the junction for the short branch to Mill Hill East station. The station is above ground in Zone 4 on the Northern Line. The premises is located on Ballards Lane, the busy high street of Finchley Central and 2 minutes walk approximately from the station. It is also on several major bus routes.