Ref 6281 – Leasehold Post Office & Convenience Store
Blacks Brokers are pleased to bring to the market this leasehold Post Office and convenience store located in a busy and densely populated area of Bolton, Greater Manchester.
Crescent Road Post Office has been trading since the 1960’s with our client taking ownership in 2016. Our client closed the business for three months in 2017 to extend and renovate the business and introduce a convenience store. Both the Post Office and convenience store are popular with locals and a large, repeat customer base has been formed. The convenience store is branded as a Nisa Local – this means our client is able to buy stock from Nisa Local directly - this secures strong buying power and low prices. There is no contract in place with Nisa Local and there are no fees. The business also offers a variety of convenience services including Payzone and National Lottery.
The business occupies a superb, main road trading position within a residential area. This area is densely populated and is in Burnden close to the centre of Bolton. It is well linked by the A666 and A575. Free parking is available outside the business and public transport links are good.
The business would be ideally suited to a hands-on owner-operator but is currently operating under management due to the demands of our client's other business interests being higher than anticipated. Therefore, the business is offered for sale and presents an excellent opportunity for a new owner-operator or team to take the business to the next level.
The building is available on a competitive rent on a Full Repair and Insure lease (Fri lease). This is the most common form of commercial property lease. The current lease is twenty years and began in 2016 at a cost of £115 per week. The lease covers the ground floor only, with private residential tenants occupying the first floor.
Crescent Road Post Office is trading from the ground floor of a mid-terraced property within a row of residential properties – there is one other local business next door. The business has large signage displayed which includes both the Post Office and Nisa Local branding. Inside, the main shop floor is modern and well-presented, having been refurbished in 2017. There is wooden flooring fitted throughout, professionally fitted wall shelving and central gondolas to create two aisles, with display fridges and freezers as required. The business is fitted with four-point CCTV, metal shutters to the front and two security doors to the rear. There is also a private office, store room and staff toilet. All areas are nicely presented with newly fitted fixtures and fittings which are of good quality.
The business is currently operating with one part-time and two full-time members of staff in employment. This includes one manager. Our client is not involved with the day to day running of this business due to other business commitments. As mentioned above, a new owner-operator would be beneficial to this business.
Crescent Road Post Office has traded solidly for over 50 years. However, takings have been boosted further during the last seven months since our client renovated and introduced the convenience store. The business has generated a turnover of £21,664 in the last seven months (October 2017 to April 2018) with gross profit of £14,670. The Post Office salary is £18,000 per annum. Full financial details are available upon viewing.
This leasehold business occupies a superb trading position on a busy main road with a good base of local customers. There is plenty of scope to develop the business further with the introduction of alcohol sales and it would be more suited to an owner operator or partnership able to push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £44,995.
Please quote ref: 6281