100-year-old Post Office sold to first-time buyer
Kings Business recently advised the sale of Alverstoke Post Office, established over 100 years ago.
The Post Office, based in Gosport, has an adjoining convenience store that sells confectionery, cards and small gifts. The business operates from a period-style shopfront with a loyal client base, attributed to its long history within the town.
The current owners acquired the business in 2010 and have successfully maintained its excellent reputation for over a decade. The business also received a complete internal renovation after being acquired by the current owners.
The Post Office offers various services to customers including MoneyGram transfers, travel money and ATM services, with the owners overseeing the store’s management.
In addition to the Post Office’s excellent reputation, it is in a prime location with the seafront just 400 yards away. The business is also surrounded by other local stores, such as cafes and retail.
The current owners decided to move on from the Post Office and instructed Kings Business in the sale. Our expert marketing campaign generated high levels of interest in the business, with 8 viewings taking place.
The business was sold to a first-time buyer who was looking for a new venture and lifestyle change. They were drawn to the Post Office due to the excellent location and benefits of the business.
Upon completion of the sale, the vendors said: “Now was the right time to sell as we have invested in other rental properties to add to our portfolio. We received a great level of service from Sophie and Lauren and appreciated their help in chasing the sale and keeping us updated throughout. We are so relieved and happy to have completed the sale and would highly recommend Kings Business”.
The vendors are now managing rental properties and intending to move abroad after the pandemic passes.
The buyer said: “Thank you to Lauren for your help with the sale. We managed to get through everything with only a small delay. Kings provided a great level of service and referred us to their mortgage advisor. I am excited and nervous as this is a complete lifestyle change”.
The buyer intends to continue to grow the business and extend its success as the previous vendors did.Experienced Sales Negotiator Lauren Lees said: “Good luck to both our vendors and the new owner, although the vendors have to wait before they can do what they had planned, we are pleased the business has sold”.
