Highly rated Spar Convenience Store for sale
City of London
- Asking Price: £224,950 +SAV
We are advised as per the 2021 accounts, the business generated a turnover in the region of £270,000. Full financials can be made available upon further request.
Please quote reference B06659
- Tenure: Leasehold
Please quote reference B06659
Hilton Smythe is delighted to present to the market a newly refurbished Spar convenience store.
The modern Spar convenience unit was completely transformed by our clients in 2020 who purchased a very tired but well established convenience business.
Our clients have invested between £200,000 - £250,000 to create a modern and organised shop space which now stands out to any other similar business within the area.
As you can see from the business photographs attached, the attention to detail is outstanding and will allow any new owner the ability to walk straight and continue trading. The complete refit included -
- New electrics/lighting
- New flooring
- New ceiling
- New equipment installed throughout
- New office, CCTV & security system
- Fresh fruit and vegetables
- Confectionery, crisp, snacks & cold drinks
- Chilled beers, wines & spirits
- Dairy products, sandwiches & bakery goods
- Frozen food, household goods & personal care products
- Fresh bean to cup coffees & ice cold slushes
- Cigarettes, batteries
There is normally an excellent commuter footfall due to the location of two major underground stations however with many other businesses on the road they are experiencing reduced footfall as some people are still working from home.
The business is currently family run with the help of 1 part time member of staff.
The sale of the business includes the following -
- 5 x Large commercial double display fridges
- 1 x Double commercial display freezer
- New lighting system throughout
- New service counter/display unit
- Bespoke display shelving units
- Storage cages
- Very desirable location
- Late trading licence in place
- Business handover offered
- Potential to achieve £10-15,000 weekly sales
- Long lease term in place
- Well known & trusted brand
- Large basement area
The price placed on the business is a combination of the high level of investment and future growth potential.
We are advised that the business is run and managed by our clients, with the help of 1 part-time member of staff.
The business hours are -
Monday – 7:00am – 11:00pm
Tuesday – 7:00am – 11:00pm
Wednesday – 7:00am – 11:00pm
Thursday – 7:00am – 02:00am
Friday – 7:00am – 02:00am
Saturday – 7:00am – 02:00am
Sunday – 7:00am – 11:00pm
The Spar Shop occupies a very busy trading position in south London.
The business is surrounded by an excellent choice of destination retailers, coffee shops, estate agents, interior stores as well High Street brands such as the NatWest, Post Office, Nando’s & Betfred.
The shop sits between two very busy underground stations.
There are available parking spaces in the adjacent street.
Ground floor -
- Large fully fitted retail space
- Large stockroom
- Dry Store
We are advised that the business is being sold on a Leasehold basis, with 13 years remaining on the 15 year lease. The rent is £2,666 per month.