Sidmouth Post Office leasehold for sale
PUBLISHED: 09:54 09 March 2009 | UPDATED: 08:42 18 June 2010
THE LEASEHOLD of Sidmouth s main Post Office, which also houses its Foto Shop business, is for sale. But, assures Fords of Sidmouth, which owns the property, the business is not closing and is a profitable concern.
THE LEASEHOLD of Sidmouth's main Post Office, which also houses its Foto Shop business, is for sale.
But, assures Fords of Sidmouth, which owns the property, the business is not closing and is a profitable concern.
Christie + Co of Exeter has handled the sale since it went on the market last summer. Asking price for the leasehold is £124,950.
Although sub-postmaster Mike Ford did not want to comment about the sale, his brother Tim explained: "We are selling it (leasehold) as a going concern. If it doesn't sell we will still keep running it as a profitable business.
"Three years ago we moved from the High Street to concentrate our efforts at Alexandria Industrial Estate.
"This is part of a three to five-year strategy. We will retain the freehold, it is a very good going concern. Turnover in the Post Office is increasing.
"We are not looking to close it in any shape or form. It is the main Post Office for Sidmouth and not something we or the Post Office will close.
Yesterday (Thursday) Paul Heather, associate director of Christie's said: "There has been a renaissance in the Post Office market and we are starting to sell Post Offices again, in fact I agreed one this morning.
He said: "Two or three people have looked at it over the last three to four weeks. There has certainly been more interest in it than there was last year."
Christie's lists the gross profit for the business as £203,435.
Mr Heather said: "It is very profitable and priced realistically."
He said should Woolbrook Post Office be forced to close it would make the town's post office much stronger.
Meanwhile Lynnette Helmer, landlady at The Bowd Inn and the Black Horse pubs, Sidmouth; both of which were on the market, told the Herald she had now withdrawn them from sale.
"It doesn't seem to be the climate to sell," she said. "The plan was to retire to Gran Canaria in 12 months' time, but it is not the time with the cost of the Euro.
"We are going to stay put for another couple of years."
Bucking the trend of shop sales and closures, local women Helen Waters and Karen Tanner have transformed the old Woolies shop into PolkA, a new fashion, shoe and accessory boutique, opening its doors on Saturday.
If you value what this story gives you, please consider supporting the Sidmouth Herald. Click the link in the orange box above for details.