Do not miss out on this great opportunity to purchase a Post Office with guaranteed regular income.
The Opportunity:
The Post Office offers the fullest range of services including passport photo booth, foreign exchange and Amazon collection service and parcel force services, Personal and Business banking, Driving Services, DBS Services and much more.
Retail sales include cards, stationery, gifts, toys and some confectionery items. The store does not offer any alcohol or tabacco sales and these could be added ( subject to regulatory) to further increase retail sales.
To one side of the shop floor is a sales counter for the phone repair and accessory shop.
The phone repair and accessory shop business is run as an entirely independent entity, but can be vacant upon possession, leaving more retail space to enhance the Post Office sales.
Reason for sale:
Since acquiring the store around early 2020, our clients reluctantly sell due to growing family commitments which require their full time attention.
Counter Retail sales & Post Office Remuneration
* We have been advised that the retail turnover for year ending 2021 were £56,171
* The Post Office Remuneration generates over £100,000 per year and has much more potential to grow year on year.
Location:
* The store is prominently located in the town centre of Stourbridge, on a busy street and benefits from high levels of footfall and repeat trade.
* The store sits alongside other complimentary retail businesses including several well-known high street names.
* The store is well presented and maintained, with clear visible signage.
Tenure
* The site is offered by way of assignment of the existing lease until July 2026. Option to renew at the end of the term.
* A new lease option may also be available with terms to be negotiated.
Trading Hours
* Monday - Friday - 9.00am - 5.00pm
* Saturday 9.00am - 2.00pm
Staff:
* The Post Office is run by the owner with 5 part time staff.
* There is also 1 part time staff for the shop floor and 1 part time student for Saturday or non-term time work.
* Also, 3 additional part time staff.
External:
* There are two parking spaces available for the owners to the rear of the building.
* Free on site kerbside parking for customers ( around 30 spaces )
Shop floor Plan:
* Ground floor - Shop sales area of approximately 350 sq. metres.
* Access to back office/stockroom through rear of shop. Stairs to 1st floor.
* 1st & 2nd floors - Former owners accommodation currently used for office, storage and secure stock room.
The shop has ceiling mounted air-conditioning, CCTV and an ATM facility.
Accommodation:
* The site covers over three floors.
* Ground floor offers two fortress and three open Post Office counters.
* First floor is accessed via an internal door and stairs from the shop floor leading to a large, open plan stores area, staff rest area, kitchenette
* Second floor includes separate ladies and gents WC's.
* The second floor is not currently utilised by the business, but could provide interesting extra revenue producing options, such as by-the-day office space rental or a call centre.
* Second floor, entire floor area of approximately 1,000 square feet has been historically compartmentalised to provide five office suites.
* Store room.
Rent:
* We have been advised the rent per annum is £32,500.
The Post Office generates an impressive £100,000 in remuneration
* The vendor is now subletting the right hand side of the ground floor unit to a barber, this returns £1,000
per calendar month in rent.
* Rental income received by the Barber shop, via Sub - Lease, £1,000 per calender month
* Rental income received by the Mobile store, £500 per calender month
The rental income from these avenues can be used to offset the total rent payable leaving to pay only £14,500!
Business Rates:
* The current business rates payable are £17,000.
* We have been advised that the rates payable will be reviewed by the valuation officer and should be significantly lower. This is due to the store being split between the mobile store and barber shop.
* Purchasers should enquire with relevant local authorities to confirm the rates payable.
Legal costs:
* Each party to be responsible for their own legal costs in connection with the sale.
Trading information:
* Full accounts & Post Office Remuneration slips will be made available to seriously interested parties after they have viewed the business
Fixtures and Fittings
* The business is well-fitted throughout and a valuable inventory of equipment is included in the sale price. however, any items that are owned by a third party or personal to our clients will be exempt.
Deposits:
* Successful bidders will be required to pay a non-refundable deposit to the marketing agent, Mailbox Estates. The deposit will be set off against the agreed purchase price on completion of a sale. In the unlikely event that the vendor withdraws from a sale, deposits will be repaid in full.
However, in the event that a purchaser reneges on the agreed terms and conditions of a sale and purchase, the deposit/s will be forfeited.
Reasons to buy
* Convenient operating hours
* Ideal owner managed or family business
* Potential for further growth by extending business hours or adding wines, spirits and beer or Tobacco products ( subject to obtaining licence)
* Ideal trading position on a busy high street and ample car parking nearby
* Current owner happy to offer a handover to ensure the continued success
Viewing arrangements:
* Mailbox Estates highly advise early viewing to avoid disappointment.
* Discreet customer visits are encouraged but On no account should any direct approach be made to the vendor or any of it's staff.
Tenure: Leasehold (3 years)
3 years remaining with option for renewal.
