Commercial property for sale in Portsmouth

DescriptionThis is a profitable convenience store with gross weekly sales of c£40,000 and £30,000 excluding services. The business has an established customer following. The property consists of a lock up retail unit with excellent storage with office overlooking the shop floor. The store offers customers an excellent experience with well laid out shelving, large fridges and signage to promote the wide range of products stocked. We would consider the rent of £15,500pa to be very reasonable when compared with the takings. The business operates under a 24hr licence. LocationThe store is located on Fratton Road in Portsmouth. A busy high street location. Portsmouth is a port city located in the county of Hampshire. The city is located 22 miles south-east of Southampton, 50 miles west of Brighton and Hove and 74 miles south-west of London. With a population last recorded at 208,100, it is the most densely-populated city in the United Kingdom Internal DetailsThe business has been fitted out to an excellent standard with clear signage and modern chillers and freezers all of which are owned outright. There is no need for additional investment from the next owner, subject to preference. There is good storage to the rear of the shop. There is also a separate office and two further store rooms and W.C. Fixtures & FittingsThe vast majority of the fixtures and fittings are owned outright and are included in the sale. The OpportunityDue to retirement the owner is looking to sell the lease for his 24hr convenience store in Portsmouth. The store has sales of c£30,000 per week excluding services. We would consider the rent to be low at £15,500 per year when compared with the turnover. There is further scope in the store to expand on the hot food offering and start a home delivery service. Trading InformationAccounts YE 31st March 2024 (ex VAT) Turnover £1,453,118 Gross Profit £318,923 Net Profit £96,444 Adjusted Net profit c£140,000 per year Add backs £34,000 Wages £4,000 Insurance £4,885 Depreciation Trading HoursOpen 24 hours TenureOffered on a renewable 20 year lease expiring on the 4th December 2038 Business RatesThe owner currently pays £52 per month in Business rates. Energy Performance Certificates EPC 1

Commercial property for sale in Portsmouth, England

Convenience store for sale

Description

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