Business Summary

Description :-

ORE are delighted to offer this Post Office in a picturesque village settings and located in the beautiful rural town of Chipping Ongar in Essex.

Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £38,800 and a retail turnover of £18,000 pa (with GP at around 25%). There is great potential to increase revenue by including additional lines of retail.

Rent : £8,000 pa

Tenure :-

Leasehold

Property Description :-

This build premises is period design and spread over the ground floor as follows:

Description sqm sqft
Front Retail 56.06sqm 603sqft
Post Office Counter 4.98sqm 53.6sqft
Rear Storage and Stock Room Staff WC

The retail area includes display shelving, card display, payment counter and 3 counter Post Office windows. There are Staff WC, Kitchenette, and storage area.

Location & Surroundings :-

This Post Office is located in Chipping Ongar which is a market town in the Epping Forest district of the county of Essex, England. It is located 5 miles (8 km) east of Epping, 6 miles (10 km) southeast of Harlow and 6 miles (10 km) northwest of Brentwood. Transport links include M11, M25 with frequent bus services to Brentwood and Chelmsford.

The surrounding areas are built up with residential property which results in a strong community ties and demand for local trade. The business is situated on the high street and benefits from close proximity to mainstream high street supermarkets, general stores and pubs.

Business Description & Takings :-

This Main Post Office offers all services in addition to limited retail lines which has room for expansion. Currently the retail services include lottery, cigarettes, limited stationary, and cards. There are considerable areas for retail improvement by introducing cold drinks, extensive confectionery, and household goods lines.

Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £38,000 and a retail turnover of £18,000 (unconfirmed).

Opening Times & Staffing :-

The store is open for 46 hours per week and this owner managed business has one part-time retail staff and one full-time Post Office staff.

Lease Terms & Rates :-

The business is held by lease with an unexpired term until 2017 and is subject to a four-yearly rent review period. The current passing rent is £7,200 per annum.

Interested parties are to make their own inquiries in to the business rates from the local authority.

Premium :-

The Business Owners are a premium of £62,000 for the leasehold interest, goodwill and fixture and fittings.

Legal Costs :-

Ingoing tenants are to pay for landlord solicitor costs.

Property Details