Property description

Kingswood is delighted to offer for sale this leasehold business opportunity.
This well-established location represents a fantastic investment to operate and run a successful retail shop with income generated from a flat above.


Location
The property is located on the outskirts of Preston City Centre with a wealth of local amenities on the doorstep including shops, businesses and public transport links available.
The area surrounding the property is primarily residential in nature with a large catchment area available exclusive to the business.

Description
The property comprises of a traditional 'corner shop' layout with a front counter desk and traditional shelf racking with rear storage area. There are fridges and freezers in place along with front desk payzone and a cash machine inside.
The interest offered for sale includes all fixtures, fittings and goodwill. At this moment in time the premises does not hold an alcohol licence, although there is potential for this to be granted which would then positively impact upon takings.
There is a two bedroom residential flat above the property, which generates an income of approximately £350 from a sitting tenant.
There is also ample on-street parking in the immediate vicinity of the property.

Rates
The Rateable Value is £3,500 (according to www.voa.gov.uk) therefore the rates payable is £1,411. The business would qualify for small business rate relief.
Enquiries should be made of Preston City Council to confirm the accuracy of the above figure.

Terms
The leasehold interest has approximately 11 years remaining unexpired at a passing rent of £866 per month.
We have been informed that the business turnover is approximately £6,500 per week. (payzone and cash machine commission not included).
The residential flat element of the property generates a rent in the region of £350 per month.
Accounts to follow.
Stock is an additional cost to be negotiated between any purchaser and the vendor.

Measurements
Retail Zone A - 24.5 sq.m
Internal Storage - 35.8 sq.m
External Storage - 28.4 sq.m
TOTAL - 88.7sq.m / 954.77sq.ft

Services
All mains services are in place and are assumed to be in full working order.

EPC / Recommendation Report
The EPC and RR are both available from your local Kingswood office.

Viewing
Viewing is highly recommended and strictly via Kingswood only.
Please contact Kingswood on:
Preston City Centre Office - Unit 8, Fishergate, Preston, PR1 2NJ - 01772 886 55501772 886 555
Fulwood Head Office - 77 Watling Street Road, Preston, PR2 8EA - 01772 71 71 8101772 71 71 81
mail@kingswoodproperties.co.uk
www.kingswoodproperties.co.uk

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