Investment Property with Highly Profitable Rental Property
Ref: 2868 J
Hilton Smythe is delighted to introduce to the market a highly profitable investment property. The business is well established being set up in the 1950's. Our client has run the business for over 30 years, and has thoroughly enjoyed overseeing this store in the community. The owner is now looking to sell the business due to the desire to take a well deserved retirement. The store is popular in the area as it is a great convenience to those that live local. There is also little competition around. We are advised the current turnover for the business is an advised £62,400. The store has been run at a steady pace to meet our client's needs. With a new owner who is hard working and determined the business could be more successful. The turnover can be highly increased by growing the stock further, introducing new ranges, and types of products; there is plenty of room in the store to do this. Other ways are to increase opening hours and to start up a newspaper round in the area. This will enhance customers and turnover. Above the store is a 3 bedroomed accommodation, which is perfect for a family. This would be ideal for a rental opportunity. We believe the property prices in the area are at a high, and the new owner could charge at least £1000 per month, once the flat is renovated. We highly advise early viewing on this fantastic development opportunity. This property has the perfect prospect to generate some extra income.
We are advised the current turnover for the business is an advised £62,400.
The business is run and managed by the owner
The business is not currently operating.
The investment property is set on a retail parade in Leigh-On-Sea, Essex. The substaintial premise is just a short drive from the coast. Leigh-on-Sea is a fantastic tourist location with a great range of shops. On the road where the property is located is a garage, café, clothing store, art gallery and much more. The store is in a great position as it is a main cut through from London Road A13. The A13 runs from Southend-On-Sea to the national motorway. This area is very busy for commuters and tourists. However this is a highly populated location with a large amount of housing all within close proximity, this benefitting the store highly. Southend-On-Sea is only 3.4 miles away and Greater London is around 38.1 mile. There are some fantastic direct public transport links into London. 2 minutes away from the property is Leigh-On-Sea train station, with regular lines running every 30 minutes. Directly facing the business is a couple of bus stops. London Southend Airport, is just a short drive away, making this the perfect location for commuters.
The premises is a fantastic size with a substantial owner’s accommodation. The front of the property is well signed with two large display windows. The main store area has perimeter shelving and an L shaped glass counter with a cigarette gantry behind. It is a good sized store with lots of potential. Through the door at the back of the store leads into the residential part of the building which also has completely separate access. You walk through into a large space that is currently a downstairs lounge/office area. This space would be great for a large stock room. Connected to this room is the large kitchen diner which leads to the back garden through the back door located right at the back of the kitchen. Equipment included in the sale is as follows-Weighing scalesCigarette gantryCountersShelvingFixture and fittings The first floor has generous space with 2 large double rooms and another smaller double room. There is a living room, airing cupboard, large bathroom and an attic. To the back of the property is a garden and a garage. There is an ample amount of on street parking to the front of the property.
We are advised the business is freehold.