Hilton Smythe welcomes to the market Baldwin’s Butchers, a butchers and delicatessen that has been in the area for 30+ 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.
Baldwin’s 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 £9,000 to £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.
Baldwin’s 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 Baldwin’s 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 complimented the business online by giving 4.7/5* Google reviews, 5* Yelp reviews and 4.8/5* reviews on the business’ Facebook page. The business is also being sold with the business website.
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 several years and has been known to turn down new clients if they are out of the area.
However, Baldwin’s 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.
Hilton Smythe highly advise early viewing to avoid disappointment.
We are advised the business is being sold as a leasehold business opportunity with a 16-year lease from 2011 and an annual rent of £50,000, the lease is for the shop, the flat, the yard and the outbuilding.
Rates are currently paid at around £12,000 per annum.
Monday – Saturday: 7am – 6pm
Sunday: 7am – 4pm
The business is run and managed by our client, with the help of 6 members of staff.
Baldwin’s Butchers generated an advised turnover of circa £887,064 as of the 2018 accounts, with a gross profit of 24.6% and an adjusted net profit of £76,044.
The average turnover for the last 3 years has been £954,585 with an average adjusted net profit of £85,206.
The assets being sold with the business are conservatively worth in the region of £15,000.
The average stock value is in the region of £42,000.
The average income from the flat, which does not appear on the accounts, is in the region of £34,500.
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