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Post Office Mid North Coast For Sale

Mid North Coast, New South Wales, Australia
Asking Price:
$790,000 (AUD) Furniture / Fixtures included
Sales Revenue:
$500K - $1M (AUD)
Cash Flow:
$500K - $2.5M (AUD)

TOP Quality Licensed Post Office for sale Located waterside Mid North Coast of NSW approximately 2 hours 45 minutes North of Sydney. One family ownership since 1972 53 years. Life Style and Location absolutely brilliant.
Adjusted Net Profit for two full time and 15 hr per week assistant $302,000 in 2023/2024 financial year.
New Lease 5 years plus 5 year option Rent $52,000 p.a. with no outgoings. PO Boxes installed 505 PO boxes leased 2024 431 . Currently run by three owners Two full time plus 15 hr assistant staff per week. This waterside LPO is a very good business opportunity for the right LPO Licensee with the area continuing to grow and develop.
Purchase Price $790,000 plus SAV about $60,000
Key points.
1. Trades only 5 days 9am to 5pm plus 9am to 11am Saturday and can be run by two full time and additional staff for 15 hours per week.
2. Very sound Financials.
3. Wonderful waterside community.
4. One family owners for over 53 years.
5. Prominent Shopping strip position with own car park
6. Services a diverse residential, business and tourist area.
7. Secure recent 5x5 year lease on affordable lease terms.
8. Rent $52,000 p.a no outgoings.
9. Significant opportunity for the right owner operator.
10. Well appointed shop of 165 sq mtres .
11. Customer Counts : 220 to 320 per day.
12. Adjusted Net for two for 2023/2024 financial year is $275,000.plus p.a.
13. Purchase Price $790,000 plus Stock at Valuation about $60,000.
14. Trading hours 9am to 5pm Monday to Friday Sat 9am to 11am. Mail arrives 7.45am
15. Great financial records!

Financial details.
Australia Post Commissions 2021/2022 $307,359.96 net of GST, 2022/2023 $301,415.39 net GST and 2023/2024 $310,922.75 net GST
Stock Sales Net GST 2021/2022 $346,204.35 2022/2023 $305,183.00 and for 2023/2024 $271,837.52
Adjusted Net for two plus after paying 15 hr week assistant $275,000.00 plus for 2023/2024.

Please note: Complete financials are available conditional on the prospective purchaser;

1. Establishing capacity to purchase and finance availability.
2. Establishing genuine interest.
3. Meeting the vendors and inspecting the business.
4. Demonstrating their ability to meet Australia Posts assignment approval requirements.
Guidance and assistance is available in order to meet these conditions

Property Information

Real Estate:

Lease

Lease Terms:

New 5 year lease with 5 year option with No Outgoings and annual CPI rises.

Leasehold Rent:

$54,500 (AUD) per annum

Location:

Larger COASTAL Town on the Mid North Coast. Lifestyle, Tourism, Fishing and Boating with a vibrant Local Business community. Fantastic well located shop being the heart of the main Shopping Strip.

Premises Details:

Large well appointed purpose built Post Office of approximately 165sq metres with 14 car car park at the rear.

Business Operation

Expansion Potential:

Very popular region water side on the Mid North Coast which continues to grow and develop yet within 3 hours of most parts of Sydney.

Competition / Market:

This is the main Post Office in this area

Reasons for selling:

Owners retiring after 54 years running this Post Office.

Trading hours:

9am to 5pm Monday to Friday Saturday 9am to 11 am. Mail arrives 7.45am

Employees:
owner operator with part time staff
Years established:
over 120 years

Other Information

Support & training:

Subject to Australia Post approval terms and the successful completion of the 5 weeks training course. The LPO Agreement is for an indefinite term and ongoing governed by clauses 20 and 22 of the LPO Agreement.
The Licensee has a right to onsell their business subject to AP approval and the completion of training.
Australia Post Training and Assignment cost to the Purchase $4,400

Financing available:

All banks will lend for the purchase of a Licensed Post Office subject to proof of income, debt serviceability and security. Westpac, StGeorge, ANZ and NAB will lend on the cash flow and have industry experience in the lending and for the purchase of an LPO. Cash Flow lending generally limited to 50% of the purchase price including stock.

Inventory / Stock value:
$60,000 (AUD)
Relocatable:
This business can be relocated