Prominent IGA

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Business Description

• Prominent location
• New 5 year lease with 5 year option
• Turnover $2 million plus per annum
• Location contributes to high gross margins
• Modern plant & equipment

David Hutchinson 0414 440 953

Extended Price Information

Goodwill including Plant & Equipment $580,000
Stock at valuation (approx) $125,000
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$705,000

Financial Summary

Year
Sales Return to Owner
n/a $1,945,598 $180,130
n/a $2,075,236 $192,938
n/a $1,947,916 $242,647
n/a (annualised) $2,081,517 $187,306
The return to owner is a net return to two working owners after all expenses and wages but excluding the vendors’ wages.

Sales/turnover do not include the coffee/takeaway bar which commenced in May 2012 - turnover $5,000 per week at approximately 60% gross profit.

Lease Summary

Current Rent $137,500 per annum + GST
Lease Term 5 years
Lease Commencement 1st April 2012
Right of Renewal 2 x 5 years
Outgoings Paid by tenant
Adjustments CPI + 2% annually and market review in 2017
Current Rent

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Plant & Equipment

Original Cost of Plant $469,000
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