Business for Sale in Nuneaton, Warwickshire Convenience Store & Post Office (Main Branch)

Leasehold Price £180,000

Key Information

Reference
G34368SM
Tenure
Leasehold
Status
For Sale
Region
Warwickshire
Sector
Post Offices
Annual Sales
£276,269.00 Exc. VAT
Commission Income
£69,000.00
Rent Payable
£17,500 per annum (£4,375 quarterly).
Business Rates
£360 per annum (£30 per month).
Accommodation
Recently renovated, it offers potential rental income. The flat includes a kitchen, bathroom, large lounge, and three bedrooms, all with double glazing and central heating. Could be let for approximately £750 per calendar month.

Business Information

EMF are delighted to present for sale the well-established Queens Road Post Office and store. This business is an essential part of the local community, providing a wide range of services that draw consistent foot traffic and foster customer loyalty. Despite the presence of nearby off-license stores, Queens Road Post Office distinguishes itself through unique offerings such as news rounds and an extensive range of Post Office services, ensuring a steady stream of customers. With scope to extend opening hours and the range of products and services on offer, there is ample opportunity to increase turnover.

THE BUSINESS:

Queens Road Post Office is a thriving establishment offering a comprehensive range of products and services:

Products Sold: Stationary, toiletries, news and magazines, confectionery, drinks, tobacco, cigarettes, electronic cigarettes/vapes, and everyday essentials, as you would expect from an operation such as this.

  • Post Office Services: Everyday personal and business banking, cheque deposits, cash withdrawals and deposits, bill payments, top-ups, passport applications, identity services, vehicle tax, travel services (foreign currency, travel insurance, travel money card), financial services (MoneyGram®, Western Union), and various postal services.
  • Lottery & Scratch Cards: With Allwyn, lottery from February 2024.
  • Dry-Cleaning Service: Outsourced, adding convenience for customers.
  • News Rounds: Two morning news rounds, charged at £3.50 per week for delivery, catering to the local community.
  • Post Office Renumeration: Circa £69,000 per annum.
  • ATM: Owned and operated by the Post Office offering free cash withdrawals.

Licensing: While there is no alcohol license, tobacco sales are robust, being part of the Imperial and JTI scheme which offers cash-back and perks.

PREMISES

The business operates from well-maintained premises that enhance its appeal:

  • Physical Layout: The main retail area features a suspended ceiling, air conditioning in the post office section, electric shutters, and CCTV installation for enhanced security. The retail space is designed to be inviting and efficient, maximising both product display and customer flow.
  • Additional Spaces:
    • Upstairs Flat: Recently renovated, it offers potential rental income. The flat includes a kitchen, bathroom, large lounge, and three bedrooms, all with double glazing and central heating. Could be let for approximately £750 per calendar month.
    • Two-Storey Garage: Currently used as storage but holds potential for repurposing, subject to landlord consent and planning.
    • Rear Storeroom and Staff W/C: Conveniently located with access to a gated parking area for one vehicle.
    • Security: The premises are equipped with CCTV and electric shutters, ensuring the safety of both the business and its customers. The post office area benefits from dedicated air conditioning.
    • Lease: A secure 10-year lease under the Landlords and Tenants Act with an annual rent of £17,500, offering stability for long-term planning.

...

ADDITIONAL INFORMATION

AGENTS NOTE: This is a business for sale as a going concern, not an empty premises for sale or let.

CONFIDENTIAL INFORMATION: In order to release further information on the business – such as the accounts, we require you to complete a short online non-disclosure form. Please contact our office and we will provide full instructions and assist where required.

REFERENCE NUMBER: G34368SM

OPENING HOURS: Monday to Friday, 6:00am to 5:00pm. Saturday, 6:00am to 1:00pm. Sunday, closed.

TENURE: Leasehold. 10 year within the Landlord’s and Tenants Act 1954, which started 02.11.2021.

The purchaser will be responsible for the landlords costs and fees in connection with the assignment of the lease.

RENT PAYABLE: £17,500 per annum (£4,375 quarterly).

RATES PAYABLE: Nil. We are advised that the business benefits from Small Business Rate Relief.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

STAFF: Three members of staff: one full-time with seven years of service and post office training, and two part-time; one with less than a year and the other over two years, both with some post office training. Correct at the time of instruction.

EPC: Energy Performance Certificate shows a rating of ‘77/D’ - full Energy Performance Certificate available upon request.

PRICE: £180,000 + STOCK AT VALUATION.

For the benefit of the leasehold, goodwill of the business, fixtures, fittings and equipment. Stock payable in addition on completion at valuation. This is a business for sale as a going concern.

VIEWING: Strictly by appointment only, please get in touch to make an appointment.

FINANCE: We may be able to help you with business financing or your commercial mortgage needs, subject to eligibility. Please let us know if you need our assistance with this and we will put you in touch with our recommended whole of market broker.

BUSINESS TO SELL: Thinking of selling your business? That's our business!

If you are interested in finding out how much your business is worth, we offer a free and confidential valuation service. You can choose the time and day that suits you best, and we will give you an honest and professional assessment. Please contact our office at your convenience to book an appointment.

PREMIER MARKETING: We are passionate about showcasing our businesses in a way that sets us apart from others. We provide quality property details and comprehensive information on all online platforms and our own website. If you want your business to stand out from the crowd, call us to book a free valuation.

...

DISCLAIMER

1. Money Laundering Regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets, flooring or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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Warwickshire & Northamptonshire

Your Regional Director Chris Ruggles

Warwickshire and Northamptonshire

Valiant Office Suites, Lumonics House
Valley Drive
Rugby
Warwickshire
CV21 1TQ