Archived
Well established Butchers business for sale.
London, City of London
- Asking Price: £390,000 +SAV
-
Turnover:
Full financials can be made available upon further request.
Please quote reference B06013
- Tenure: Leasehold
Please quote reference B06013
Hilton Smythe welcomes to the market Baldwins Butchers, a butchers and delicatessen that has been in the area for around 80 years and owned by our client, who is now looking to retire, since 1985.
The business is being sold along with the lease of the two storey flat above which has 5 letting rooms, communal lounge, kitchen and bathrooms. The flat generates an income of circa £34,500 per annum on an HMO basis.
Baldwins is a master butcher and delicatessen that supplies to the trade as well as to many retail customers. The income that is generated to the trade is in the region of £8,000 - £10,000 per week and there are many clients including local cafes and restaurants in the west end, a full list of these clients will be given to the new owner of the business.
Baldwins specialises in fresh and free range meat and eggs and sells around 200 – 250KG of freshly prepared sausages each week. Restaurants take around 300 burgers per week from Baldwins and the experience and customer service has meant that Baldwins has been voted a top 3 butcher with write ups in the Evening Standard.
Retail customers have also complemented the business on line by giving 4.7/5* Google reviews, 5* Yelp reviews and 4.8/5* reviews on the businesses own Facebook page. The business is also being sold with the website www.baldwinsbutchers.co.uk
As our client is looking to retire there is scope for development by canvassing for further outside catering leads as our client has not pushed these in a number of years and has been known to turn down new clients if they are out of the area.
Baldwins is a great purchase for many reasons including;
- Income from the flat above
- Long established in the area
- Known across North London and into the City
We are advised that the business is owner run and managed, with the help of 3 full time and 3 part time members of staff.
The business hours are;
Monday – 7:00am – 6:00pm
Tuesday – 7:00am – 6:00pm
Wednesday– 7:00am – 6:00pm
Thursday – 7:00am – 6:00pm
Friday– 7:00am – 6:00pm
Saturday– 7:00am – 6:00pm
Sunday – 7:00am – 4:00pm
Baldwins Butchers is located on Green Lanes, Harringay, London N4. Baldwins is located in a parade of similar retail shop and upper parts on the West side of Green Lanes, A105 in Harringay.
The local area is vibrant with a large variety of independent and multiple traders, restaurants and bars, all bringing in a high footfall to this densely populated part of North London.
There are rail services to London Moorgate via Harringay station and Manor House tube station is approximately a quarter of a mile south of the business. There are several bus routes that run along Green Lanes taking passengers in and out of the city centre.
Baldwins sits in a corner position with prominent signage and a canopy above each window display.
Baldwins is set in a corner position on Green Lanes, Harringay. To the ground floor is the shop area with cold store and staff area behind. The total square footage of the shop is 947. There is a yard and a 2 storey outbuilding at the end of the yard, the outbuilding has a total square footage of 657
Above the shop is a two storey flat, that is currently let on an HMO basis, the flat has a total square footage of 1,435
The shop is entered from Green Lanes and has window displays to the front and side, both having canopies over.
The main shop area, which has a 5* hygiene rating, has a large service counter with display chiller displaying a variety of meats. Behind this area are 4 large blocks, mincer, scales, air conditioning unit, shelving and access to a 4m x 3m chiller.
In the foyer of the shop is a display chiller for the delicatessen goods including cheeses, meats etc. there is also pasta, tomatoes, eggs etc displayed in this area.
Behind the main shop is a lobby that leads to the staff area With CCTV, tea making facilities, preparation table access to the courtyard to the rear and access to the sausage preparation room with sausage making equipment.
To the rear of the shop is a courtyard area with side access and access to the rear outbuilding that is used for storage with the ground floor area being a walk in chiller.
The flat is set over 2 floors, on the first floor there are 3 rentable bedrooms, a kitchen and 2 bathrooms. On the second floor are 2 rentable rooms and a communal lounge. It is our understanding that the tenants in the flat are on one month rolling contracts.
** Landlord will allow change of use **
Tenure
We are advised that the business is being sold on a Leasehold basis, with 6 years remaining on the 16 year lease. The rent is currently £3,458 per month, with rates payable at £12,000 per annum.
The flat generates an income of circa £34,500 per annum on an HMO basis.
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Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83
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