Retail Property (high street) for saleKennington Road, London, SE11
808 sq. ft.
- Business for sale
- 808 sq ft (75 sq m)
- Use class orders: A1 Shops and A2 Financial and Professional Services
- Premium £79,950
- Uses A1/A2 Retail & Financial/Professional Services & alcohol license from 8:00 a.m to 2:00 a.m
- Rental £15,600 per annum
- Terms We are advised that the property is held on a 15 year lease which commenced in May 2015. Rent reviews are at 5 yearly intervals.
- No Business rates.
- Size Approximately 808 sq ft
- Opening Hours Monday to Saturday 07:00 to 22:00 & Sunday 08:00 to 19:00
- The business is managed by a mix of full and part time members of staff, with additional help from the owner when needed.
- Current turnover is in excess of £260,000 per annum approximately
- Additional Sales, Lotto £500 per week, Oyster £4,000 per week, & PayPoint £3,000 per week
LOCATION: The premises are prominently located on popular busy Kennington Road within the well populated area of Lambeth, South East London. 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, plus those using Lambeth North underground station or visiting the Kennington Oval.
DESCRIPTION: The sales area is bright and airy creating a welcoming environment and was completely re-fitted in 2015 when our client opened the store. The business has been fitted with a comprehensive range of good quality, modern fixtures and fittings, CCTV and ample refrigeration, which includes a 4m fridge for soft drinks, dairy products and pre packed sandwiches, plus a 3m chiller for beers and wines. The store retails an extensive range of soft drinks, beers and wines all of which are all displayed in modern chillers and good quality shelving. The business also stocks a good selection of everyday goods plus confectionery, newspaper and magazine titles, dairy products, frozen and convenience foods and a small selection of greeting cards. This store is a thriving and highly lucrative business, yet 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.
PROPERTY: The business trades from a highly visible mid terraced property, offering a deceptively spacious ground floor retail space, along with a basement for storage
BUSINESS: The business was opened by our client in 2015 and since taking ownership, the current owner has established a regular customer base 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 in 2015, the business underwent a complete refurbishment program in order to provide the current set up which now includes modern fridges, energy saving lighting and an Epos till system
SUMMARY: A fantastic opportunity to purchase a successful, thriving business situated on a main road in Lambeth, South East London, close to the Kennington Oval and Lambeth underground station.
ANCILLARY AREAS: Large basement area used for storage, staff WC and staff kitchen
USES: A1/A2 retail and financial/professional services
PREMIUM: £79,950 Guide price for the benefit of the lease, fixtures, fittings and goodwill.
RENTAL : £15,600 per annum
TERMS: We are advised that the property is held on a 15 year lease which commenced in May 2015. Rent reviews are at 5 yearly intervals.
BUSINESS RATES: No Business rates.
SIZE: Approximately 808 sq ft
OPENING HOURS: Monday to Saturday 07:00 to 22:00 & Sunday 08:00 to 19:00
STAFF: The business is managed by a mix of full and part time members of staff, with additional help from the owner when needed.
TURNOVER: Current turnover is in excess of £260,000 per annum approximately
Additional Sales, Lotto £500 per week, Oyster £4,000 per week, & PayPoint £3,000 per week.
ACCOUNTS: Available on request on viewing
LEGAL COST: To be confirmed
LOCAL AUTHORITY: Lambeth
ENERGY PERFORMANCE CERTIFICATE: Energy Performance Asset Rating is 63 -C Rating. A copy of this property's energy performance certificate can be viewed at www.london-properties.co.uk as a pdf file
REFERENCE CHARGE: London Properties charges a fee of £200 plus VAT for taking up references for proposed tenants. This fee is non refundable after the references have been taken up, whether they are accepted or not by the Landlord.
HOLDING DEPOSIT: A holding deposit will be required to secure the property; the deposit will buy a period of exclusivity and will be held in the London Properties client account
FIXTURE & FITTINGS: Any fixtures, fittings, equipment, machinery and plants which are shown within the details have not been tested unless specifically said and prospective purchasers and/or tenants should satisfy themselves as to the condition
AGENT NOTE: London Properties for themselves for Lessors, Vendors and their agents, give notice that:-
1. These particulars provide a general outline only. It is advised that prospective purchasers or tenants make their own enquiries.
2. These details do not constitute any part of an offer or contract.
3. All statements or details contained within these particulars are without any responsibility on any part, to London Properties.
4. All rent prices, fees and charges are quoted exclusive of VAT
VIEWINGS: Through London Properties by appointment only
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