Profitable Licensed Post Office for sale Located in popular High street Location in the North Sydney area. Long established quality LPO in upmarket residential/commercial harbour side location.
Adjusted Net Profit for one plus small level of assistance $179,000 p.a based on Tax 2022/2023 Trading 5.5 days only.
Shop Rent only $42,000 p.a with new 5 X 5 year lease from 1st May 2024 and very favorable landlord.
PO Boxes 151 currently leased. Significant opportunity under the Licensed Business Partnership Program with dedicated parking space at the rear.
Purchase Price $620,000 plus Stock at Valuation abt $40,000
KEY POINTS
Wonderful waterside high street Location.
Trades only 5.5 days with 7.30am start for the mail.
One owner for over 14 years
Bright well presented Shop.
Fantastic growth opportunity for the right owner manager under LPB program.
Customer Counts 140 plus per day.
Adjusted Net for one plus small level of assistance $179,000 p.a with scope to grow
Secure lease with long term remaining.
Upmarket residential and commercial area.
FINANCIAL DETAILS
Australia Post Commissions Net of GST 2022/2023 $152,632.65 p.a, Poms Net of GST for 2023/2024 will exceed $165,000 net of GST based on April 2024 Pom YTD
Adjusted Net for two $179,000 p.a 2022/2023 Stock Sales Tax 2022/2023 $298,219 with scope to grow and a declared GP margin of 26.2% due to high level complimentary product sales.
Please note: Complete financials are available conditional on the prospective purchaser:
Establishing capacity to purchase and finance availability.
Establishing genuine interest
Meeting the Vendors and inspecting the business.
Demonstrating their ability to meet Australia Posts assignment approval requirements.
Guidance and assistance is available in order to meet these conditions.
- Asking Price:
- $620,000 (AUD) Furniture / Fixtures included
- Sales Revenue:
- $500K - $1M (AUD)
- Cash Flow:
- $500K - $2.5M (AUD)
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
New 5 year lease with 5 year option from 1st May 2024. No outgoings except 25% of increases based on base year 2023. Fixed 4% annual rises including option
- Leasehold Rent:
-
$42,000 p.a per annum
- Location:
-
Harbour Side High Street Location in the North Sydney Area
- Premises Details:
-
Smaller well appointed retail premises with very good exposure to the High Street with rear parking and access.
Business Operation
- Expansion Potential:
-
The opportunity to increase profitability exists under the LPB program and the Mail Plus assistance package. The right pro active LPO Licensee has an opportunity in this location to significantly improve this business. Other retail options have potential as well.
- Competition / Market:
-
Only Post Office in this up market area
- Reasons for selling:
-
Owner retiring
- Trading hours:
-
8am to 6pm Monday to Friday 9am to 12pm Saturday
- Employees:
- owner operator with part time staff
- Years established:
- over 120 years
Franchise Information
- Franchise opportunity:
-
Franchise Resale
- Franchise terms:
-
The LPO Agreement is for an indefinite term and ongoing governed by clauses 20 and 22 of the LPO Agreement. subject to Australia Post approval terms and the successful completion of the 7 weeks training course. Must be a permanent Australian resident to hold the LPO License or equity the the LPO.
Other Information
- Support & training:
-
Subject to Australia Post approval terms and the successful completion of the 7 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 anLPO. Cash Flow lending generally limited to 50% of the puchase price including stock.
- Inventory / Stock value:
- $40,000 (AUD)
- Relocatable:
- This business can be relocated.
