1 bedroom post office for sale

Fryern Arcade, Winchester Road, Eastleigh, Hampshire, SO53

Guide Price £80,000

Property Description

Commercial information

  • Business for sale

Key features

  • Profitable and established leasehold post office and store
  • Gross Turnover WHS 362,040
  • Income to date Post Office commissions 205,825
  • 10 year lease 2014, 5 year rent review 35,000 PA
  • Additional rental income from above flat and office space 1,400 PCM
  • Price Reduction for immediate SALE 80,000 ONO due to vendors lifestyle and other business demands
  • The vendors have two sites and would consider selling both sites to the same purchaser

Full description

Tenure: Leasehold

DESCRIPTION
This is a rare opportunity to purchase a business which is fully established upon a leasehold basis, with excellent growing commission rates as a main post office, plus the added bonus of a W H Smith Local franchise (optional) also producing excellent profitability. Located upon a busy shopping arcade with parking, Fryern Hill Post Office and W H Smith Local offers a new first time business owner the security of a large high street chain and name, plus scope to expand and add their own twist to the site. Fryern Hill offers exceptional profitability for a seasoned business owner to take the next step upwards.

Located in the Fryern Hill Arcade, off Winchester Road in Eastleigh Hampshire, Fryern Hill Post Office offers many post office facilities. The business is located approx. 2 miles outside Eastleigh in a very affluent area. This post office and W H Smith Local benefits from a recent refit and offers excellent scope for a potential new owner to expand and sell additional goods and services.

Eastleigh is within easy reach of the M27, M3 A31 routes both North, East and West and within easy reach of Southampton and Gatwick Airports. The business is only being offered for sale due to the vendor's lifestyle demands.

The post office is a protected commissioned position and the salary from day one of trading is 205,825 PA and growing. In addition to this, there is the franchise from W H Smith Local. The extensive store offers all of the W H Smiths services and products and is flexible at what the new owners want to add to sell in the store. This offers a turnover just on the retail side of 362,040 and growing.

The current vendors established the business in 2014 where the store was fully renovated and fitted out as part of the franchise agreement. Fryern Hill Post Office and W H Smith Local represents a truly stunning opportunity. The vendors also own and are selling another site set up the same and would consider selling both to one vendor.

The post office services include the Passport service, Car Tax, Health Lottery plus Lottery, Foreign exchange, Moneygram payment services and all counter services. There is one fortified counter, two open plan counters, one combination counter located next to the retail counter at the front of the store offering all post office services and a counter for all shop transactions. Currently the vendors limit the hours, therefore there is the potential to expand on these and offer additional services.

This is a totally rare opportunity to acquire this business with growth potential. Due to the location and scope, a viewing is strongly recommended as demand is expected to be high

WEEKLY SALES
WHS weekly gross sales average 3,000 pw
PO commissions average 8,500 pm
Customer sessions average 3,500 pw

ACCOUNTS
Current records and accounts can be inspected when viewing.

5 year projections and forecasts also available.

TRADING HOURS
Monday - Saturday 09:00 - 17:30
Sunday Closed (Possibility to open)

STAFF
The business is overseen by the owners, one of which is the postmaster. There are also additional part time members of staff. One of the vendors also works within the post office, however would be happy to stay on if required.

PROPERTY
The store sits within an open arcade of shops and is a standard construction lock up spanning 2 floors. The premises were originally 2 separate stores, however have now become one offering an exceptionally large store. The single fronted aluminium shop entrance opens out into the modern feel store.

The store is laid out with 1 fortified counter to the rear of the store, 2 open plan counters to the front of store left to the entrance. There is 1 retail counter for shop transactions and next to that is a combination counter offering all post office transactions.

Throughout the store there are various racks and stands offering a range of cards and stationery, papers and magazines with scope to expand.

Beyond the fortified area is a small staircase leading to a staff room, a store room and an office.

Above unit 6 is a 1 bedroom owners flat, which has been totally refurbished to a high standard and could generate 700 PCM if sublet.

The premises benefit from a full EPOS system, a full CCTV package accessed anywhere in the world on a mobile phone and a fully monitored alarm system.

RESIDENTIAL ACCOMMODATION
The residential accommodation is accessed via a separate entrance to the rear of the property and is totally separate from the shop. A staircase leads up to the landing and hallway area with some built in storage areas.

The 1 bedroomed flat is currently occupied by a sitting tenant until September 2017 and has been renovated to an exceptionally high standard including a new bathroom and kitchen, boilers and radiators and other small items. This could be sublet if required giving additional income. The property is in an excellent move in condition. The flat is let at 700pcm.

Above unit 7 leading up the stair case, the office space is let out on an informal basis of 700pcm.

TENURE
The property and business are to be sold upon a leasehold basis and would offer the new owner a 10-year lease with an initial rental of some 44,210pa for the full site and flat.

This property is currently held on a 10 year lease which commenced in 2014 with a 5 yearly rent reviews, and totals 35,000pa which includes the flat and the office space above.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.
SUMMARY
Fryern Hill Post Office and W H Smith Local represents an ideal opportunity for a newcomer or seasoned business owner to acquire a business in a unique position with a good rental, offering excellent scope to develop further.

The business represents an ideal lifestyle and demand is expected to be exceptionally high, therefore an early viewing is a must.

Further to this, there is a second site at Gosport and the two sites could be sold together.

SHARE SALE
The business is owned by a limited company and so it is anticipated that this sale will be by way of a share sale of 100% of the issued capital of the company.

More information from this agent

Nearest stations

  • Chandlers Ford (0.6 mi)
  • Eastleigh (1.7 mi)
  • Southampton Airport Parkway (2.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Kings Business Transfer, 7b Edward Vii Quay, Navigation Way, Ashton-On-Ribble, Preston, PR2 2YF

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Chandlers Ford (0.6 mi)
  • Eastleigh (1.7 mi)
  • Southampton Airport Parkway (2.7 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Kings Business Transfer, 7b Edward Vii Quay, Navigation Way, Ashton-On-Ribble, Preston, PR2 2YF

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference 44553. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by ALTIUS GROUP LIMITED, Kings. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Map data OpenStreetMap contributors.