Business Summary

Description :-

ORE are delighted to offer this prominent and established Post Office located in an urban retail location in Dagenham, Essex for sale. The business is sitting among a parade of shops which serves a densely populated community and is surrounded by other local businesses. Business comes with a 3 Bedroom self contained Flat above with separate entrance. Currently flat is let out on AST with rental income in the region of £12,000pa.

Vendors are looking offer in the region of £50,000 Premium for the goodwill and Leasehold interests.

Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £23,000 and currently has no or negligible retail takings. New Lease terms to be agreed with commencing Rent in the region of £12,000 pa.

Property Description :-

The premises is spread over the ground floor as follows.

Description sqm sqft
Front Retail 46.45sqm 500sqft
Storage Staff WC

Location & Surroundings :-

Porters Avenue is a local post office with transport links via public and private transport. The location benefits from proximity to public transport links via Becontree Underground station. The surrounding areas are densely populated with residential dwellings which results in a high demand for local trade. The high street benefits from numerous local businesses including hair salons, takeaway and restaurants, pharmacists, butchers, and branded convenience store.

Business Description & Takings :-

This Post Office Local offers the core range of services in addition to a small underdeveloped retail business (allowing for scope for improvement).

Business is being run with help from staff and generating a Post Office salary y/e 31st March 2013 of £23,000.

Opening Times & Staffing :-

The opening hours are 09:00 – 17:30 Monday to Friday and 09:00 to 12:30 on Saturday. Tenure & Lease Terms - The property is offering a new Full Repairing and Insuring lease for an term of approximately 25 years. It is understood that the lease is granted inside the Security of Tenure Provisions of the Landlord and Tenant Act 1954, part two as amended.

The proposed rent is currently £10,800 per annum and is ORE have been advised that the premises are exempt of business rates.

Premium :-

Owner is looking for £42,000 premium for the goodwill and benefit of new lease for this business.

Legal Costs :-

Tenant to pay a contribution towards the landlord’s solicitor’s 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