For Sale

Community Post Office and Convenience Store

Newport, Newport

£139,950 +SAV

Ref: 14324 H

Contact sales negotiator

Aidan Murphy

01204556301

Email Aidan Murphy

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Description

Hilton Smythe welcomes to the market, this popular community store and post office easily managed from well fitted and presented premises, offering a low rent with Newport council and a wonderful location in the heart of the Duffryn area.

Lifestyle Express and Duffryn Post Office offers a diverse range of products to include, newspapers, tobacco, sweets and groceries, national lottery, greeting cards, together with sundry items including a cash machine.

We believe from the vendors that the current shop takings are around £7,000-£8,000 per week, and offers more than £2,000 pw for tobacco, £2000 for lottery, £500 pw for newspapers and £2,000 pw for alcohol. Also, the shop benefits greatly from the post office which we believe from the vendor has a substantial salary of £34,000 per annum plus commission.

There is an extensive inventory of fixtures and fittings included in the sale.

The shop has been run by the current owners for 17 years and who are now looking towards a well earned retirement.

Tenure

Leasehold

We are advised that the business is being sold as a leasehold opportunity on a 35-year lease with Newport council. The rent payable is £5,000 per annum.

According to the VOA website the current rateable value is £5,600, however the owners inform me that they benefit from small business rate relief so pay no rates.

Hours

The business opens:-

Monday to Sunday 7:30 a.m. to 8.00 p.m.

The post office is open 9:00 a.m. to 5:30 p.m. Monday to Friday and Saturday 9:00 a.m. to 12:30 p.m.

Staff

The business is currently run by the owner, 1 other full-time person and 2 part time staff.

Financial Profile

The accounting information for the year ended 31st March 2016 shows a turnover of £379,294 with a gross profit of £64,088 and a very healthy net profit of £23,155.

We are advised the post office salary is £34,000 per annum plus commission.

Location

Lifestyle Express/Duffryn Post Office is situated in Duffryn, essentially a large housing estate in the southwest of the city of Newport, South Wales comprising ofa large portion of the Tredegar Park electoral district (ward). Duffryn is home to two of Newport's largest secondary schools — Duffryn High School and St. Joseph's RC High School, which all makes it an ideal area for a busy post office and convenience store.

The centre of Newport itself is only around 2 miles away, offering an historic cathedral and university city. It is located on the River Usk close to its confluence with the Severn Estuary, approximately 12 miles northeast of Cardiff. At the 2011 census it is the third largest city in Wales, with a city population of 145,700 and an urban population of 306,844.

The M4 motorway is very close by, giving easy access to all surrounding areas.

Premises

An easily managed premise covering 129.9 sqm with the main shop area, small office, secure post office area with 2 counters, rear store and WC.

The main shop offers equipment to include various fridges and freezers, serving counter with till, cigarette gantry, secure post office counters, coffee machine (currently rented) cash machine, various shelving and racking and much more.

The business really needs to be viewed to appreciate all what’s on offer, in this great location with free parking outside.

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