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Saturday 23rd of Sep 2017 - My Account - Register - Brokers - Bookmark RightBiz
Leasehold:
£69,950

Refurbished Lithuanian Convenience Store Premium Advert

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Further Details
Reference13862 F / RightBiz
Status
FOR SALE
Advert ID196451
LocationLincoln, Lincolnshire
SectorSupermarkets, Convenience Stores, Newsagents
Leasehold Price£69,950
Annual Turnover£350,000
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Key Features
  • Price Reduced
BUSINESS
The business has been operated by the current occupier for just over 12 months and has been part of his business expansion plans. His plan is to move back to Lithuania and start a wholesale business from there.

The business sells Lithuanian produce which includes tinned and packet foods a huge range of spices and delicacy’s as well as hosting a new meat counter to the rear of the store selling a range of traditional meats and sausages.

There is an addition to the rear of the store where the current operator has added a bread and pastry section with sweets and Lithuanian delicacy’s also available.

The store is extremely well stocked providing a large range of beers wines and spirits. The business has a strong and loyal following within the community which is continually growing. The store could also benefit from stocking a range of produce from the UK to service the local residents and student community.


LOCATION
Located in Lincoln on the very busy and popular Monks Road. The business is located on the main transport routes into and out of Lincoln town centre.

The premises are situated facing Monks Road in a busy and popular residential area next to the Lincoln college as well as the post office and Monks Road sports and social club.

PREMISES
Ground floor shop which has been extended through to the premises next door to provide a larger service area.

Very well stocked and immaculately presented having been completely refurbished in the last 12 months.
Sales counter, display shelving units, wall units, shelving, display freezers and drinks fridge, Cold meat display counter and meat slicing machine, bread storage and display units.
Shutters to the front and CCTV system, electric scales credit/debit card machine.
Office and store room to the rear of the premises with further freezer storage, WC and hand wash basin, computer and security monitoring.
Space to the front of the store for refuse collection with steps and handrail.


TENURE
We are advised the business is being sold as a Leasehold opportunity.

Current rent passing at £17,000 per annum.

HOURS
The business is currently operating seven days a week Monday to Sunday 9am to 10pm.

STAFF
The business is run and managed by the current vendor with the assistance of three-part time staff members.

FINANCIAL PROFILE
We are advised the business is currently turning over in the region of £6,700 per week with a gross profit in the region of 25%.

The current rates payable are £4,000 per annum.

EXTRA NOTES
The business has been trading for just over a year which is what the figures are based on (2017).
The vendor has another store in Newark that he will also be looking to sell in the next 12 months.
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