LEASEHOLD POST OFFICE/CONVENIENCE STORE IN HAMPSHIRE WITH ACCOMMODATION
Price:
Leasehold - £195,950
Location:
Hampshire , Nevilles Park, Havant
Business Type:
Retail businesses
Business Details
The particular highlights of the business are:
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £390,000 with a net profit of £48,680 (see financial summary below).
- The business comes with a post office salary of £28,648 pa.
- A business with great potential.
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business and ideal purchase for a family.
- A concern with very little competition.
- Business enjoys superb local reputation.
- The concern provides a post office, general convenience goods and groceries.
History
Phoenix Business Transfer Agents are delighted to place onto the market this Leasehold Post Office/Convenience Store with Accommodation which has been established since the 1950’s. The business has been in the hands of the current owner since 1992 and he now wishes to sell due to retirement.
Services
This very good business opportunity provides a post office, general convenience goods and groceries.
Staffing
The concern employs 2 members of staff.
Owners Role
The owner is involved in the day to day running of the business.
Marketing
No marketing or promoting of the business has recently been undertaken as the business is well known.
Competition
There is no local competition.
Market
The client base consists of local residents.
Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings including local and internet advertising.
• Increasing the opening hours to include evenings.
• Increasing the product line to include an off license.
• Becoming more efficient with staffing levels.
• With the introduction of a website and e-commerce.
Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The owner would also be happy for an on the job observation period to assess the business prior to offers being made.
Property Details
The property is terraced, part of a parade of shops and is approximately 700 sq ft. The front is branded with an attractive glass front. There are electric shutters and a CCTV system. The main customer service area is tiled with a middle aisle, shelving and racking to the walls. It is very well presented and is very conveniently laid out.
To the rear is a store room. There is a toilet and staff facilities.
First and Second Floor
On the first and second floor there is a 2 bedroom flat with lounge/diner, kitchen and bathroom/toilet which could be rented up to a value of £650 per month or used for accommodation by the new owners of the business.
Equipment with sale
All fixtures, fittings and equipment are included in the sale price and are valued at £10,000.
Financial Details
The present annual turnover is £391,355 with a gross profit of £75,735 and a net profit of £48,680. The wages are £5.85 ph. The present value of the stock is £25,000.
The potential turnover of the business within the next 2 years is forecast to reach £450,000 pa given the changes that are required to be made to the business. Full financial disclosure is available on request after viewings and the signing of a confidentiality agreement.
Please note Phoenix do not guarantee the accuracy of these figures which are in many cases estimated and are not verified. Please do not rely on the accuracy of these figures and seek professional help before making any offers. Phoenix will not be held liable for any inaccuracies in these figures or any other statements contained in relation to this business.
Disclaimer
These details do not constitute part of an offer or contract.
The statements and descriptions given are made without warranties by Phoenix Business Agents Limited who it should be noted have NOT verified the information provided.
Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations, figures and information given on behalf of the seller.
- Situated in the Nevilles Park area of Havant in Hampshire.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent free parking facilities.
- Industrial estates nearby.
- Surrounded by a densely populated residential area with schools and other local amenities.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- A commercially thriving area.
- Well linked with the A3, A3 (M) and B2149.
- Portsmouth, Waterlooville and Chichester all lie close by.
- Area enjoying much growth and regeneration.
- Excellent local demographics for this type of area.
The original length of the lease was 25 years with 11 years remaining. The rent is £13,000 pa with a review in 2012. The lease may be renewable or negotiable for longer term if required. The rates are £4,000.
Monday to Saturday: 7.00 am - 5.30 pm.
Sunday: 8.00 am – 12.00 pm.
On the first and second floor there is a 2 bedroom flat with lounge/diner, kitchen and bathroom/toilet which could be rented up to a value of £650 per month or used for accommodation by the new owners of the business.
North Yorkshire
£ 750,000
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