£0 £1000000
£0 £1000000

Well Established Post Office Business With Flats To Rent

Peterborough, Cambridgeshire

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Sold

£325,000 +SAV

Ref: B05595

Freehold

Overview

Please quote reference B05595

Hilton Smythe welcomes to the market Market Deeping Post Office. A convenience store and post office with 3 flats above that due to family circumstances is being sold.

Market Deeping Post Office is the local post office for Market Deeping and many surrounding villages which has a high footfall due to this. There are many opportunities for the new owner of the business to grow it exponentially as due to recent family circumstances our client has not pushed the convenience store element of the business to anywhere near its potential. There is also a large room to the rear that could be utilised as further storage or as a meeting room for hire.

The Post Office has a high footfall and many returning customers, however, it does not have a website or social media pages, which would be ideal to promote the business further.

There is plenty of scope for development of the business by considering;

  • Creating social media pages to promote the business.
  • Create a website to promote the business.
  • Stock the convenience store element of the business to generate strong revenue.
There are many reasons to purchase Market Deeping Post Office including;

  • 3 flats generating an annual income of £18,420 between them.
  • Plenty of scope for further development.
Hilton Smythe highly advise early viewing to avoid disappointment.

Turnover
Market Deeping Post Office generated an advised turnover of circa £146,250 as of the 2018 accounts, with a gross profit of £82,418 and a net profit of £9,537. The assets being sold with the business are worth in the region of £9,350.

The business' income is seperated into three different streams, these are:

  • The Post Office commision based salary is circa £55,000 per annum.
  • The convenience store turns over around £100,000 with a net of £20,000.
  • The 3 flats generate an income of approximately £20,000 per annum between them.
This means the property generates a combined income of £95,000 per year, making this a very lucrative business opportunity.

Please quote reference B05595

The business is run and managed by our client, with the help of 2 members of staff.

Monday - Friday: 9am – 5.30pm

Saturday & Sunday 9am – 12.30pm

The convenience store could be open 7 days a week and into the evenings to generate more revenue.

Market Deeping Post Office is in Market Deeping is an affluent market town on the north bank of the River Welland and the A15 road in Lincolnshire. The population of the town at the 2011 census was 6,008.

The Post Office is set back from the road with parking for several cars directly in front.

Outside to the front of the premises is parking for several cars, an area for retail sales access to the side which gives pedestrian access to the flats.

The shop is entered from the front with a service counter for the convenience store to the front left. The counter has a tobacco gantry behind and confectionery stand to the front.

Within the retail area are drinks chillers, ice cream fridge, shelving for food, card stand, newspaper stand, stationery shelving to one wall and 3 aisles for food etc. The retail area measures 91.78 square metres.

The post office has 3 post office counters, CCTV and measures 34.75 square metres.

From the rear of the store is a door that leads to a lobby way with access to the side, access to the post office, staff toilets being male and female, kitchen area and access to the large storeroom.

The storeroom is a total of 45.6 square metres and can be utilised further by renting out as a meeting g space etc.

The flats are accessed from the side of the building via communal stairs, access to all the flats is on the first-floor level, however, one of the flats has an internal staircase and is on the second floor.

Flat A has a 13’1 x 10’5 lounge, 10’2 x 8’1 kitchen, shower room and 2 bedrooms measuring 12’5 x 6’10 and 9’3 x 6’10.

Flat B has a 13’10 x 12’10 lounge, 8’10 x 6’3 kitchen, L shaped bedroom measuring 10’6 x 8’4 plus 4’7 x 3’3. Bathroom.

Flat C is the attic flat with a large T shaped landing, 16’3 x 13 lounge, 16’4 x 13 kitchen/diner, 9’3 x 7’1 bedroom and bathroom.

The Premises are circa 201sqm.

Tenure
We are advised the business is being sold as a freehold business opportunity being the shop and three flats above which generate and annual income of £18,420 between them.

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