Ref 6320 – Leasehold
Blacks Brokers are pleased to bring to the market this leasehold Post Office and licensed convenience store located in a busy and densely populated area of Blackpool, Lancashire
South Shore Post Office has been trading on Waterloo Road since 2003 with our client in ownership since 2014. The business has established a large base of regular customers and a superb reputation. The shop offers a range of services that brings a diverse customer base including Post Office, cash machine, convenience store with National Lottery, mobile phone, gas and electric top ups and off licence.
Waterloo Road is based in South Shore, Blackpool, and is the main shopping area in the town. There are large multiples close by including Iceland and the area is very busy all year round, with guaranteed footfall from the other stores and tourist attractions. Blackpool is well linked by the M55 and welcomes tourists throughout the year.
The business would be ideally suited to a hands-on owner-operating team. Our client is relocating and therefore, the business is offered for sale and presents an excellent opportunity for a new owner-operating 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 fifteen years with rent reviews every five. The current lease began in 2010 at a cost of £423 per week.
South Shore Post Office operates from a very spacious, mid-terraced retail property within a busy shopping parade. The shop has a fully glazed frontage with branded “Premier” and “Post Office” signage and window displays. Inside, the main sales floor is well presented and well stocked with large serving counter to the right hand side. There are five aisles within the store, and on the left hand side there are magazines, and drinks fridges. To the rear of the building is the main post office area with three serving counters, and also a small stock area. There is also another small stock area within the confines of the Post Office. Each area is well presented. Please note: There is a cash machine and photo booth in place which are not owned by the business - both are commission based.
All fixtures and fittings are of good quality and this includes five upright display drinks fridges, two smaller display drinks fridges, external cash machine (commission based) photo booth (commission based), one epos till system, one chest display freezer, one ice cream display freezer, all shelving and racking, photocopier and CCTV system.
There is a small, enclosed yard to the rear with private parking for two vehicles.
The business is currently operating with three members of staff in employment – these are all family members. This includes both the shop and Post Office.
South Shore Post Office has traded solidly since opening. The accounts for year ending 2018 show annual turnover of £289,093 with a gross profit of £107,579. The current projection for year end 2019 is £350,000. The National Lottery and scratch card sales bring 6% and 5% commission, with an additional 5% commission on mobile phone, gas and electric top ups – these generate around £10,000 per annum. The additional Post Office Salary is £65,000 per annum.
This leasehold business is well-established and has a large base of customers in place. There is plenty of scope to develop the business further with the introduction of a website and social media presence. There is also scope to introduce takeaway sandwiches and snacks within the store and potentially hot food with the correct license if required. Longer opening hours could also bring an increase in revenue. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised. Business: £44,995.
Please quote ref: 6320