Crescent Road, Woolwich, SE18

For Sale - £65,000

Arrange a Viewing of this property >

  • LiICENSED CONVENIENCE STORE FOR SALE
  • TOGETHER WITH 3 BED ACCOMODATION
  • ADVISED WEEKLY SALES OF £8,000 (GP 20%)
  • AGENCIES FOR LOTTERY / PAYPOINT / BUS PASSES
  • NEW LEASE / COMMENCING RENTAL £24,000pa

LOCATION:
Woolwich is a district of south-east London within the Royal Borough of Greenwich situated some 11 miles from Charing Cross, around 4 miles from Greenwich and approximately 7.5 miles from Bexleyheath.

Woolwich itself has an extremely busy shopping centre with a good mix of both local and national retailers.

The subject property enjoys a prominent corner position within a densely populated residential area some half a mile from the main town centre.

THE PROPERTY:
That of a ground floor lock-up retail together with a three bedroom flat arranged over the ground and first floors. The News Centre occupies the ground floor only and has frontage on to Crescent Road.

The accommodation can be accessed either internally at the rear of the shop or via an external door at the rear of the property.

INTERNAL DETAILS:
The public areas are adequately fitted and presented for the current use with the trading area approximately 600 square feet. There is also a storage room of around 130 square feet.

ACCOMODATION:
Ground floor
Hallway
Kitchen 13'09 x 10'10
Bathroom

First floor
Lounge 15'03''x 13'11''
Bedroom 14'02'' x 6'02''
Bedroom 11'11'' x 7'09''
Bedroom 13'x 12'06''

The accommodation benefits from both double glazing & central heating.

THE BUSINESS
The current owners acquired this property in 1992 and are now selling due to their wish to retire.

The customer base comprises a broad mixture of local residents and some passing trade.

The product range comprises a wide range of beers, wines and spirits, groceries, frozen foods, ice creams, toiletries & household cleaners, newspapers and magazines.

Supplementary income is generated from the National Lottery Agency, a PayPoint Agency and the sale of bus passes.

We are advised that the National Lottery achieves weekly sales in the region of £1,200 at a commission rate of 5%, PayPoint sales to be in the region of £5,000 and bus passes of approximately £1,300 at a commission rate of 4%.

TRADING INFORMATION:
At the time of our inspection we were able to discuss recent trading levels with our client who informed us that average weekly sales are in the region of £8,000 (GP 20%). Interested applicants are advised to seek their own confirmation of these figures.

FIXTURE & FITTINGS:
We have been advised that all fixture and fittings are owned with no items held on either loan or lease agreements.

STAFF:
There are two working owners who are assisted in the day to day running of the business by one member of part time staff.

TENURE:
Our client will be retaining the freehold and granting a new lease for a term between 10 and 15 years at a commencing rental of £24,000 per annum. The rent will be subject to a review every 5 years.

A rental deposit will be required subject to status.

EPC RATING:
Shop rating C - 69
Flat rating E - 47

RATES:
We understand that the rateable value is £7,261 per annum. Interested parties are advised to contact the relevant council with regards possible rate relief.

LEGAL FEES:
Each party are to be responsible for their own legal costs

VIEWING ARRANGEMENTS:
No direct approach may be made to the property / business. For an appointment to view, please contact the agent.


IMPORTANT NOTICE

Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.