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Freehold Convenience Store and Post Office Plus 2-Bed Flat in Wolverhampton

Wolverhampton, West Midlands
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Freehold Convenience Store with Post Office and 2 bedroom Accommodation Photo 1
Freehold Convenience Store with Post Office and 2 bedroom Accommodation Photo 2
Freehold Convenience Store with Post Office and 2 bedroom Accommodation Photo 3
Freehold Convenience Store with Post Office and 2 bedroom Accommodation Photo 4
Freehold Convenience Store with Post Office and 2 bedroom Accommodation Photo 5
Freehold Convenience Store with Post Office and 2 bedroom Accommodation Photo 6
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Freehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom AccommodationFreehold Convenience Store with Post Office and 2 bedroom Accommodation
  • Status

    FOR SALE

  • Date Submitted:

    09/02/24

  • Advert ID

    606551

  • Reference

    CS0225DOVE / Rightbiz

  • Call Agent:

    Registered members »

  • Freehold: £420,000 (Stock at valuation)
  • Turnover: £336,000 (£6,462 Per week)
  • Net Profit: On request

Key Features

  • Established Business
  • Accounts Available
  • Price Further Reduced
  • Ideal for Full Refurbishment
  • Prime Location
  • High Turnover
  • Unique Business
  • Fully Fitted
  • Close to Local Amenities
  • Adjacent to Multiple Retailers
  • Price Reduced
  • Potential for Alternative Use
  • Large Business for Sale
  • Offers Invited
  • Attractive Business

Business Details

Freehold Convenience Store with Post Office and 2 bedroom Accommodation

Mailbox Estates presents an exceptional opportunity to acquire a well-established freehold Convenience Store and Post Office, complete with accommodation, located in a 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, 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, 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 11:00pm

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 with a staircase leading to the entrance front door
•Fitted kitchen with utility area
•Entrance hallway
•Reception room
•Two double bedrooms with fitted wardrobes
•Family bathroom
•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 8:00am - 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 Masters licence

LEGAL COSTS:
•Each party to be 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 Agreement and viewed the premises

VIEWING ARRANGEMENTS:
•Mailbox Estates highly advise 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.

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Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

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The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

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Send a test amount before you consider handing over a large amount of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

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Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

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Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

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Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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Stay Safe

Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

Stay Safe

The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

Stay Safe

Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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The data showed regarding this advert 'Freehold Convenience Store with Post Office and 2 bedroom Accommodation - CS0225DOVE / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.