Mailbox Estates offers a compelling opportunity to acquire a well-established freehold Convenience Store and Post Office, which also includes residential accommodation. Located in a prime trading area of Wolverhampton, this property benefits from minimal competition, making it an attractive investment.
The store operates as a traditional convenience store, offering a comprehensive range of general groceries, as well as beers and wines, greeting cards, newspapers, and magazines. Additionally, the Post Office services include banking, car tax, foreign currency exchange, as well as Royal Mail and Parcelforce mail and parcel services, along with Amazon and DPD services.
Our client has obtained planning permission from the council in July 2023 to extend the store from the rear. This presents an exciting opportunity for an entrepreneur to further expand the shop floor, enabling an increase in product range, revenue, and ultimately enhancing the value of the property.
REASON FOR SALE:
•Due to other business commitments, our clients are now offering the lease for sale.
THE OPPORTUNITY:
•The Post Office offers guaranteed income
• Living Accommodation for owners or the staff
•Ideal for owner management or family-run operations
•Nisa Report available with projected £22,000 weekly sales post extension
LOCATION:
•Occupying a sizable semi-detached property, this establishment commands a highly visible corner position on a bustling main road in Wolverhampton
•Situated within a parade alongside neighbouring commercial enterprises such as a pub, fish and chip shop, and dental practice, the store enjoys considerable foot traffic.
TURNOVER:
•Our client has informed us that retail sales average £5,500 per week, boasting an impressive 30% margin
•There is significant potential to enhance this figure by expanding the product range or extending trading hours, which are licensed until 11:00pm
POST OFFICE:
•There are a total of three Post Office counters, with an annual remuneration of approximately £36,000
Lottery commission of £6,000 per year.
GROUND FLOOR PLAN:
•The ground floor boasts a sales area spanning approximately 62 square meters (667 square feet), presented in good condition.
•Kitchenette
•Staff W.C
ACCOMMODATION:
•Approx. 68sq m (731 sq ft) with separate access to the rear with a staircase leading to the entrance front door
•Fitted kitchen with utility area
•Entrance hallway
•Reception room
•Two double bedrooms with fitted wardrobes
•Family bathroom
•Double Glazing windows and Gas central heating
RENT:
• The rent for the shop alone is £13,000 per year, or £21,000 per year including the accommodation.
TENURE:
•A new 6 year renewable lease will be granted.
•Rent will be revised if the tenant decides to extend.
SHOP TRADING HOURS:
•Monday – Saturday 7:00am – 8:00pm
•Sunday 8:00am – 5:00pm
POST OFFICE:
•Monday-Saturday Friday 7:00am – 8:00pm
•Sunday -Closed
STAFF:
•The business is owner operated, with 1 Full time staff member and 1 Part time sales assistant
FIXTURES AND FITTINGS:
•The business is well-fitted throughout and a valuable inventory of equipment will be included in the sale
EXTERNAL:
•The stock room has its own separate building to the rear of the property
•Delivery access to the rear of the property with direct access to the stock room
BUSINESS RATES:
•Our client advises that the business fulfils the criteria for Rural Rate Relief and no business rates are payable. The accommodation is subject to residential council tax
REGULATORY:
•Premises licence
•Post Masters licence
LEGAL COSTS:
•Each party to be responsible for their own legal costs in connection with the sale
TRADING INFORMATION:
•Trading information will be made available to genuinely interested parties who have signed a Non Disclosure Agreement and viewed the premises
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
DEPOSITS:
•Successful applicants will be required to pay a non-refundable deposit
