Mailbox Estates presents an exceptional opportunity to acquire a well-established freehold Convenience Store and Post Office, complete with accommodation, located in the prime trading area of Wolverhampton. The property enjoys minimal competition and has obtained planning permission for a store extension.
The store operates as a traditional convenience store, offering a comprehensive range of general groceries as well as beers and wines, greeting cards, newspapers, and magazines. Additionally, the Post Office services include banking, car tax, and foreign currency exchange, as well as Royal Mail and Parcelforce mail and parcel services, along with Amazon and DPD services.
Our client has obtained planning permission from the council in July 2023 to extend the store from the rear. This presents an exciting opportunity for an entrepreneur to further expand the shop floor, enabling an increase in product range and revenue and ultimately enhancing the value of the property.
REASON FOR SALE:
Due to other business commitments, our clients are now offering the freehold for sale
THE OPPORTUNITY:
• Planning permission for store extension has been granted and approved by the council
• The Post Office offers guaranteed income
• Accommodation is available for owners/staff or can be rented out for an additional income stream
• enjoys the advantage of minimal competition
• Free customer parking is available
LOCATION:
• Occupying a sizable semi-detached property, this establishment commands a highly visible corner position on a bustling main road in Wolverhampton
• Situated within a parade alongside neighbouring commercial enterprises such as a pub, fish and chip shop, and dental practice, the store enjoys considerable foot traffic
TURNOVER:
• Our client has informed us that retail sales average £5,500 per week, boasting an impressive 30% margin
• There is significant potential to enhance this figure by expanding the product range or extending trading hours, which are licensed until 11:00
POST OFFICE:
•There are a total of three Post Office counters, with an annual remuneration of approximately £36,000
Lottery commission of £6,000 per year.
GROUND FLOOR PLAN:
• The ground floor boasts a sales area spanning approximately 62 square meters (667 square feet), presented in good condition.
•Kitchenette
•Staff W.C
ACCOMMODATION:
• Approx. 68sq m (731 sq ft) with separate access to the rear and a staircase leading to the entrance and front door
• Fitted kitchen with utility area
•Entrance hallway
•Reception room
• Two double bedrooms with fitted wardrobes
•Family bathroom
•Double Double-glazing windows and Gas central heating
• The accommodation is currently tenanted but can be vacant upon possession.
• Currently tenanted with rental income of £750 per calendar month
SHOP TRADING HOURS:
•Monday - Saturday 7:00am - 8:00pm
Sunday, 8:00 a.m.–5:00 5:00pm
POST OFFICE:
•Monday-Saturday Friday 7:00am–8:00pm
•Sunday -Closed
STAFF:
• The business is owner-operated, with 1 full-time staff member and 1 part-time sales assistant
FIXTURES AND FITTINGS:
• The business is well-fitted throughout and a valuable inventory of equipment will be included in the sale
EXTERNAL:
• The stock room has its own separate building to the rear of the property
• Delivery access to the rear of the property with direct access to the stock room
BUSINESS RATES:
• Our client advises that the business fulfils the criteria for Rural Rate Relief and no business rates are payable. The accommodation is subject to residential council tax
REGULATORY:
•Premises licence
•Post Post-Masters licence
LEGAL COSTS:
• Each party is responsible for their own legal costs in connection with the sale
TRADING INFORMATION:
• Trading information will be made available to genuinely interested parties who have signed a non-disclosure Disclosure Agreement and viewed the premises
VIEWING ARRANGEMENTS:
• Mailbox Estates highly advises early viewing to avoid disappointment
•Discreet customer visits are encouraged but ON NO ACCOUNT SHOULD ANY DIRECT APPROACH BE MADE TO THE VENDOR
DEPOSITS
Successful applicants will be required to pay a non-refundable deposit.
