Business for Sale in Kingsthorpe, Northamptonshre Convenience Store & Post Office (Main Branch)

Leasehold Price £295,000

Key Information

Reference
T34367SM
Tenure
Leasehold
Status
For Sale
Region
Northamptonshire
Sector
Convenience Stores
Annual Sales
£50,000.00 Inc. VAT
Weekly Sales
£3,200.00 Inc. VAT
P.O. Salary
£66,000.00
Rent Payable
£4,750 quarterly (£19,000 per annum).
Business Rates
Currently £2,928 per annum.
Accommodation
No
  • Established in 2023
  • Post Office & Paypoint with Amazon & Evri
  • Strategic Location Near Shopping and Schools
  • Profitable Business with Growth Each Quarter
  • Selling Due to Relocation
  • Opportunity to Extend Trading Hours
  • Community Hub Loved for Great Service
  • Sale Includes All Fittings and Equipment
  • CCTV/Motion Sensor Security System
  • Low Overheads with Attractive Lease Terms

Business Information

EMF are delighted to present for sale a modern convenience store and Post Office located in Kingsthorpe, Northampton. Opened in 2023 to benefit from the recent closure of another store nearby and retain Post Office services in the area, it is only now coming to market as the business owners are now looking to relocate. Although still a young business, it has been profitable with growth each quarter and there is great potential for a new owner to increase turnover, such as new lines, further services and extended opening hours. In a great location next to a busy main road and situated in a thriving shopping area with the likes of ASDA, Waitrose and other shops nearby, local schools and good footfall ensures that the Post Office draws customers into an inviting and well laid-out store. There is also ample customer parking close-by, making this a great base to further grow the business. Interest is expected to be high and viewing is highly advised.

THE BUSINESS

Offering a substantial range of products; stationary, cards, magazines and newspapers that are very popular with customers, along with chilled drinks, tobacco, alcohol and sweets. Additionally stocked are various toys and games, household products and the other usual items you would expect to find in a modern convenience store.

The Post Office is a main branch (one of only two in in the area) meaning the business can offer a wide-range of services including passports, driving licences, banking services such as cash withdrawals and deposits (business and private), cheque deposits, balance enquiries, travel insurance, currency exchange and sending parcels and letters. Services for Amazon and Evri are already online, with the owners working on adding DHL services also. The Post Office fortress itself has two positions with the shop till also having a Post Office combo-counter at the end, making it possible for one person to run the shop and Post Office if required. Paypoint services are also offered.

With average weekly shop sales in the region of £1,900 inc. VAT, and £1,300 ex. VAT in commissions from Post Office business, Amazon and Evri, there are various ways that sales could be increased with options such as a hot coffee machine, bites to go and some light tech-related items such as phone cases, earphones and charging cables for example. Lottery services are not currently provided for and this also offers another possible income stream, subject to the regular application process.

Two members of staff currently work 20-22 hours per week each; Monday, Tuesday, Wednesday they cover the entire day in the Post Office (one opening, one closing), and Thursday, Friday and Saturday they carry out the mid-shift from 10:00am to 3:30pm. Both staff members are very experienced, having worked for the Post Office for several years and getting on well with customers and the owners alike.

The current owners take pride in the business, which is known for high quality customer service and they always make a point to greet customers - which is reflected well in reviews for the store. A regular customer base brings in consistant sales with many grabbing their morning newspapers and families enjoying the sweet treats and ice creams on offer.

The business was recently featured in the Northampton Chronicle & Echo celebrating the first year anniversary of the store opening and bringing back the Post Office services to the area. This is a modern business with great potential for a new owner to benefit from all of the efforts the current owners have invested into the business.

PREMISES

The ground floor shop is open, light and airy with the store itself fitted to a very nice standard. All fixtures, fittings and equipment required to run the business will be included with the sale, with the exception of anything that’s on contract or leased such as the till/EPOS system, which can be transferred depending on a buyers requirements. These include 2 alcohol and 1 soft drink refrigerators, 1 ice cream freezer, 1 newspaper stand, all shelving and racking, queuing system and much more. It also benefits from spacious storage areas both up and downstairs, which the current owners have found very useful. The rear of the shop is secured by an electric shutter with remotes, where you can also park to unload a car or van and a 7 camera CCTV security system with motion detection offers additional peace of mind.

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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: T34367SM.

OPENING HOURS: 8:30am to 5:30pm Monday to Friday. 8:00am to 3:30pm on Saturday. Closed Sunday.

TENURE: Leasehold. 10 year lease from 10th March 2023. We understand the lease is within the landlords and tenants act 1954 (renewable).

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

RENT PAYABLE: £4,750 quarterly (£19,000 per annum).

RATES PAYABLE: Currently £2,928 per annum.

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.

OTHER: Insurance - £1,074 per annum (£90.00 per month).

Electricity - Circa £350-400 per month depending on usage.

Gas - £12.00 per month (basic rate, currently unused).

STAFF: 2 staff at the time of take on, both with Post Office experience.

EPC: Showing a rating of ‘89/D’ - full Energy Performance Certificate available upon request.

PRICE: £295,000 + STOCK AT VALUATION. Stock estimated to be in the region of £20,000 at the time of instruction.

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.

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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