Business Summary

Description :-

ORE are delighted to offer this prominent and established Main Lock up Post Office located in a strong urban retail location in Tottenham, London for sale. The business is sitting among a parade of ships which serves a densely populated community and is surrounded by other local businesses. New FRI Lease will be granted with commencing rent in region of £18,000 pa with 3 yearly rent review.

Vendors are looking offers in the region of £125,000 for goodwill and leasehold interests. Standard references are required and In going tenant is liable for Landlords solicitors cost of £750 +VAT. Sale is subject to Post Office Sub postmaster appointment. Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £65,000 and a retail turnover of £28,600pa (unverified).

Tenure :-

Leasehold

Property Description :-

The premises is spread over the ground floor as follows

Description sqm sqft
Front Retail 39.09sqm 420sqft
Post Office Counters 7.93sqm 85.41sqft
Collection Area 26.6sqm 286sqft
Staff WC.

Location & Surroundings :-

Broad Lane is a busy high road with fantastic links via public and private transport. Located just off of A10, with access to Central London and A406, the business further benefits from close proximity to Seven Sisters Underground station.

The surrounding areas are built up with dense residential property and high-rise estates which results in a high demand for local trade. The high street is home to numerous local businesses including hair salons, takeaway and restaurants, estate agents, grocers, and betting shops

Business Description & Takings :-

This Main Post Office offers all services apart from Passport Check and Send, and Driving License services in addition to a small underdeveloped retail business (allowing for scope for improvement). Lottery machines services are currently in operation and application for cash dispensing services have been submitted.

Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £65,000 and a retail turnover of £28,600pa (unverified).

Opening Times & Staffing :-

The opening hours are 09:00 – 17:30 Monday to Friday and 09:00 to 13:00 on Saturday. Lease Terms - The property benefits from a 15 year lease with a passing rent of £18,000 and 4-yearly rent reviews.

Premium :-

The owner requires £130,000 premium for the goodwill and benefit of the remaining lease.

Legal Costs & Terms :-

Ingoing tenant to pay reasonable Landlords’ legal costs.

All Offers are subject to Sub Postmasters appointment by Post Office and through their security checks and qualifying process. Buyers need to have good financial standing and buyers are subject to credit checks and need to have a good credit scoring.

Property Details