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Post Office for sale

High Street, Middlesbrough, Cleveland, TS6

£425,000
124 sq. m.

Property Description

Commercial information

  • Business for sale
  • 1,334 sq ft (124 sq m)

Key features

  • FREEHOLD
  • Ref 14170 A
  • Leasehold option available 49,995 + SAV

Full description

Tenure: Freehold

LOCATION
This ground floor large double fronted Post Office with Convenience Store is situated on the very busy High Street in Eston, near Middlesbrough in the built up area of Teeside.

The business is in a parade of shops with flats above within the town centre.

There is free parking to the rear and nearby.

There is a high volume of passing traffic and footfall.

BUSINESS
Hilton Smythe welcomes to the market Eston Post Office.

This large (we are advised 1600 square feet approx ) busy and attractive Freehold Post Office and Licensed Convenience Store provides all the usual Post Office services and also sells a wide selection of alcohol , cigarettes, newspapers , magazines, DIY items, tobacco, cold drinks, confectionery, crisps, greeting cards and other sundry items.

It also has the National Lottery and an exterior ATM.

The business has been owned by our client for 10 years ( a Post Office has been on site for 25 years) and is now reluctantly selling because of family illness.

The sale also includes 4 high class apartments above which produce an income of 1600 pcm.

There is also the potential of a further 2 flats being built on the first floor.

The business which is presently run at a pace to suit, can be expanded by opening longer hours especially in the evenings to take advantage of the alcohol licence, Sunday opening , increased drive and by increasing and varying the stock being sold.

At present the Post Office funds the Store. With a little effort and tweaking, the Store could easily stand on its own feet.

This is a good and established Freehold business marketed at a reasonable price for an early sale.

The owner may be prepared to consider selling the business only, retaining the Freehold and leasing the Post Office and shop premises upon terms to be agreed.

PREMISES & EQUIPMENT
The 3 storey premises has the Post Office and Convenience Store on the ground floor.

The attractive entrance leads into a large modern double shop with counter to the left with National Lottery terminal, and the Post Office at the rear.

The shop areas are equipped with good modern shelving, units, fittings and fridges.

The secure Post Office has 2 tills and the usual equipment.

An ATM is on the front wall.

There are 2 good sized stock rooms to the rear, a toilet and washbasin and rear entrance leading to allocated parking spaces.

A separate entrance leads to 2 x 1 bed apartments on the 1st floor and 2 x 2 bed apartments on the 2nd floor producing rents of 1600 pcm.

These high class apartments have been converted to a very high standard with over 70,000 being spent recently on them.

The 1st floor could be further extended and 2 further 1 bed apartments built (subject to planning consents).

The sale includes a till, sales counter, cold drinks fridges, Lottery terminal, exterior ATM, display units and shelving.

We are advised that the business assets are worth in the region of 10000.

TENURE
We are advised that the premises are of Freehold tenure.

We are also advised that the owner would be prepared to sell the business as a leasehold option with terms to be negotiated and at a price of 49,995 + SAV.


HOURS
The business currently opens:-

Monday to Saturday 8.00am to 5.30pm
Sunday closed

STAFF
The owner runs the business with the assistance of 3 part time staff.

The annual staff cost is 20000 approx.

FINANCIAL PROFILE
We are advised that the current Post Office salary/Commission is approx 50,000 pa.

The current turnover of the Store is approximately 70,000 pa.

The business carries about 15000 stock.


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