Post Office and Convenience Store for Sale in Birmingham West Midlands

Description

Business type: convenience store and Post Office

Location: near Handsworth Wood, Birmingham

Purchase options: freehold or leasehold

Freehold Option

Asking price: £549,000

Price negotiation: available

The freehold price includes:

• Goodwill
• Fixtures
• Fittings

Stock: purchased separately at valuation

Leasehold Option

Leasehold premium: £165,000

The leasehold premium includes:

• Goodwill
• Fixtures
• Fittings

Annual rent: £25,000

Lease term: 20 years

Lease type: full repairing and insuring

Rent reviews: every five years

Rent deposit: three months

Stock: purchased separately at valuation

Financial Information

Average weekly shop turnover: approximately £12,000 excluding lottery sales

Average weekly lottery sales: approximately £2,000

Gross profit margin: approximately 25%

Annual Post Office remuneration: approximately £20,000–£24,000

Monthly lottery commission: approximately £300–£400

Monthly ATM commission: approximately £150

Monthly gas and electricity costs: approximately £800–£900

Business rates payable: £0

Business Information

Current ownership period: nearly 25 years

Staff: two part-time employees

Retail Premises

Combined shop and stockroom area: approximately 1,925 sq. ft

• Ground-floor convenience store
• Post Office counter
• Stockroom
• CCTV system
• Monitored alarm
• Parking for two vehicles
• Additional on-road parking

Security system cost: covered by the Post Office

Rear Area

Garden area: approximately 250 sq. ft

Residential Flat

• Two bedrooms
• Situated above the shop
• Held under a separate 60-year lease
• Excluded from both purchase options

Freehold title: covers the entire building

Development Options

• Extend trading hours
• Introduce fresh meat
• Add bakery products
• Introduce coffee-to-go
• Update the store layout
• Revise product displays and merchandising