Retail Property (high street) for sale

Barking Road - E6

£60,000

Property Description

Commercial information

  • Business for sale

Key features

  • Ideal for owner operator
  • Mainly eastern European retail sales
  • High street location with heavy footfall
  • Parking to the rear

Full description

Tenure: Leasehold

Description
Armin Supermarket is located on the main Barking Road within the well populated area of Barking, East London which is on the Essex boarders. The area is extremely busy throughout the day as the business is surrounded by a large number of residential dwellings along with independent retailers and national chains.

The business was purchased by our client in 2013 and since taking ownership the current owner has established a regular customer base, mainly Eastern European, given the location and continual footfall such is the main road which benefits from various bus routes, one of which is almost directly outside the shop. We have been advised by our client that since their acquisition the business has undergone a refurbishment program in order to provide the current set up which now includes modern fridges and Epos till system.

The store retails a good range of pre packed meats, dry goods and soft drinks all of which are all displayed in modern chillers and on good quality shelving. The business does not currently offer Oyster or alcohol through choice but there is an external ATM which we are lead to believe generates an income in the region of £170 per calendar month and a further £100 per month is generated by Lyca Mobile.

The three studio flats above the shop are rented out under the terms of the main head lease and produce an income in the region of £27,000 per annum therefore almost covering all of the main rent for the shop. However the vendor has been informed he could potentially get slightly more rent.

This store still offers terrific scope for future growth and would therefore ideally suit an energetic family unit who can develop the business to its true potential which will undoubtedly increase the weekly sales whilst ultimately enhancing the overall profitability.


Sales
Advised weekly retail sales in the region of £2500 to £2800 per week with good gross profit margins

Inside the shop is a cash machine which gives you approx £170 depending on the use plus £100 for Lebara and Lyca

Accounts
Current management accounts can be inspected when viewing.

Trading Hours
Monday to Saturday 10:00 to 23:00
Sunday 11:00 to 22:00


Staff
Managed by a mix of full and part time staff with additional help from the owner when needed.

Building External
Highly visible mid terraced property offering deceptively spacious ground floor retail space along with basement for storage and studio flats above which generate a substantial rent each year. Garden to the rear and car parking space.



Building Internal
The sales area is bright and airy creating a welcoming environment, was re-fitted in recent history and is therefore presented in good order throughout. The business has been fitted with a comprehensive range of good quality, modern fixtures and fittings, CCTV and ample refrigeration for soft drinks, dairy products and pre packed foods.

The business mainly caters for the eastern European market and stocks a wide variety of goods although it does not currently have an alcohol license through choice.



Ancillary Areas
Office
Staff WC
Kitchen area


Residential
Three studio flats providing an income of £2200 a month. However vendor has been informed he could achieve between £2350 - £2400 per month.

Tenure
We are advised that the property is held on a 20 year lease which commenced in May 2013. The annual rent is £31,500 exclusive (correct as advised on 20.03.17). Rent reviews are at 4 yearly intervals.



We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.


Nearest stations

  • East Ham (0.5 mi)
  • Upton Park (0.8 mi)
  • Beckton (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Tustin Court, Unit 1, First Floor, Port Way, Ashton-On-Ribble, Preston, PR2 2YQ

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • East Ham (0.5 mi)
  • Upton Park (0.8 mi)
  • Beckton (1.2 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Tustin Court, Unit 1, First Floor, Port Way, Ashton-On-Ribble, Preston, PR2 2YQ

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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