Business Summary

Description :-

ORE are delighted to offer this freehold new build Local Post Office located in a strong rural location of Wokingham, Reading for sale.

Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £28,000 and a retail turnover of £204,000pa (with GP at around 25%). There is great potential to increase revenue by including additional lines of retail, grocery and capitalizing on the unused alcohol license that is currently in place.

Planning permissions has been granted to develop a first floor studio flat.

Tenure :-

Freehold

Property Description :-

This new build premises was developed in 2011 and is spread over the ground floor as follows

Description sqm sqft
Front Retail 49.6sqm 530sqft
Post Office Counter 4.26sqm 45.8sqft
Storage/Staff WC/Kit 18.32sqm 197.2sqft

The retail area includes display shelving and fridges, payment counter and 2 counter Post Office windows. There are Staff WC, Kitchenette, and storage area in addition to four parking bays, one of which is disabled parking, and bike shed.

Planning permission has been granted to develop a very spacious first floor studio flat and with slight alterations to the plan it should be possible to change it to a one bedroom flat instead. Local estate agents have advised that the potential rental income could be the region of £7,800 per annum.

Location & Surroundings :-

This Post Office is located in Wokingham which is located 33 miles from central London and includes transport links via Wokingham Overground Station (within 2 miles) to Reading and London Waterloo stations, and close proximity to M4. The surrounding areas are built up with residential property which results in a strong community ties and demand for local trade. The business is largely unopposed with very few convenience stores within the immediate vicinity.

Business Description & Takings :-

This Local Post Office offers all core services in addition to a retail sector which has considerable room for expansion. Currently the retail services include lottery, cigarettes, household goods & general convenience lines, newsbill, and cold drinks. There is an alcohol license which has not been capitalized upon in addition to the ability to introduce a line of fresh food goods.

Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £28,000 and a retail turnover y/e March 2012 of £204,000. Additionally, £7,800pa income can be added once the first floor studio flat has been developed.

Opening Times & Staffing :-

The retail store is open for 72.5 hours per week with the Post Office being open for 37.5 hours per week.

This owner occupied business is fully staffed.

Price :-

Vendors are seeking offers of £199,950 for the freehold interest, goodwill and fixture and fittings.

Property Details