Post Office for sale

High Street, Gosport, Hampshire, PO12

Guide Price £80,000

Property Description

Commercial information

  • Business for sale

Key features

  • Profitable and established leasehold post office and store est feb 2015
  • Gross Turnover WHS 314,012
  • Income to date Post Office commissions 170,620
  • 10 year lease 2015, 5 year break clause, 33,600 PA Freehold available
  • Additional rental income from office space 1,600 PCM
  • Price Reduction for immediate SALE 80,000 ONO due to vendors lifestyle and other business demands
  • Massive double story unit, lots of potential for shop share and flats
  • 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 high street with parking, Gosport 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. The business also offers exceptional profitability for a seasoned business owner to take the next step upwards.

Located on Gosport high street in Gosport Hampshire, Gosport Post Office offers many post office facilities. The business is located approx. 2 miles outside Portsmouth in an affluent and standard 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.

Gosport is within easy reach of the M27, M3 A31 routes both North, East and West and is 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 170,620 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 314,012 and growing.

The current vendors established the business in 2015 where the store was fully renovated and fitted out as part of the franchise agreement. Gosport 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. The site also offers AEI DVLA Checking and Driving Licence Renewals.

There are two fortified counters and two open counters to the rear of the store, plus 1 combination counter offering all post office services and next to it 1 retail counter offering 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 4000 pw
Post Office commissions monthly average 9000 pm
Customer sessions average 4500 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 is also 7 additional part time members of staff.

PROPERTY
The store sits proud in the centre of Gosport high street and is a standard construction lock up spanning 2 floors. The premises offers an exceptionally large store.

The double fronted double access aluminium shop entrance opens out into the modern feel store. The store is made up of 2 fortified counters, 2 open plan counters to the rear of the store. To the front of the store, right to entrance, there is 1 combination counter offering all Post office services and 1 retail counter for shop transactions.

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

To the rear of the fortified serving area is an open office and to the rear of this is the storage facilities. There is a staircase leading to the first floor where there is additional storage, offices and a staff room.

The vendors have advised that they have had plans drawn up to modify this area into an apartment, with verbal consent from the local authority. We have currently been unable to verify this information. The vendors will discuss this with a potential purchaser.

The premises benefit from a full EPOS system, full CCTV accessed anywhere in the world on a mobile phone and a fully monitored alarm system. There is full shutters to the front of the store. To the rear there is access for parking of 4 cars.

RESIDENTIAL ACCOMMODATION
There is currently no residential accommodation available, however plans are available for conversion of the first floor. The conversion would provide a two bedroom flat above the business, which could be sublet to generate additonal income.

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 44,000 PA for the full site and flat.

This property is currently held on a 10 year lease which commenced in 2015 with a 5 year break clause, and totals 33,600pa which includes the office space. Freehold option also available.

FREEHOLD OPTION
There is the possibility that the landlord may offer the freehold of the building by separate negotiations. The current vendors made enquiries and figures in the region of 300,000 were discussed.

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification.

SUMMARY
Gosport 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 Fryern Hill 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

Energy Performance Certificates (EPCs)

Nearest stations

  • Portsmouth Harbour (0.6 mi)
  • Portsmouth & Southsea (1.4 mi)
  • Fratton (2.1 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

  • Portsmouth Harbour (0.6 mi)
  • Portsmouth & Southsea (1.4 mi)
  • Fratton (2.1 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.

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