Property for saleLavender Hill, Battersea, SW11
Under Offer £20,000
- LONG ESTABLISHED NEWSAGENTS
- ADVISED WEEKLY SALES OF AROUND £4,000
- SCOPE TO DEVELOP BUSINESS AND INCREASE SALES
- BUSY MAIN ROAD POSITION
- VIEWING IS RECOMMENDED
LOCATION: Battersea is located in the London Borough of Wandsworth some 2.9 miles south-west of Charing Cross. Summit News fronts on to the busy Lavender Hill (A3036) benefiting from substantial passing trade plus there is a bus stop directly outside the property. Lavender Hill Magistrates Court is almost opposite and near by businesses include hairdressers, estate agents, take aways and restaurants and an Asda Superstore.
DESCRIPTION: The subject property comprises an inner terrace ground floor lock-up retail premises with basement. Summit News has been in the hands of our clients, who are looking to retire, for the past 24 years. The business is owner operated and trades Monday through to Saturday 6.30am till 19,30 and Sunday 7.00am to 18.00.
At the time of our inspection we were able to discuss recent trading levels with our clients who advised us that average weekly sales are around £4,500. Commissions are generated from sales of Oyster cards, National Lottery and Payzone .
Applicants are strongly advised to seek their own confirmation of the trading figures.
We feel that there is scope to increase sales with the introduction of an off licence and higher stock levels
TERMS The premises are held on a 20 year lease from 25/12/2000. The rent is £23,000 per annum which is subject to 5 yearly reviews.The rent review for 2015 is outstanding and is in process of being agreed.
RATES We understand from enquiries with Wandsworth Council that the property has a rateable value of £18,750 with rates payable of approximately £9,000 We strongly recommend this is confirmed with the rating office of the London Borough of Wandsworth.
EPC RATING C
LEGAL FEES Each party are to pay their own legal costs
Energy Performance Certificates (EPCs)
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