The local convenience store and post office is the primary tenant of an old Victorian school. The 1,800 sq ft retail area is well equipped with shelving throughout, several chillers, National Lottery and Paystation terminals, and a large sales counter with a post office. Sherston Post Office & Stores remains unopposed as the only food retailer in the village, following the closure of a farm shop in the village last fall, enjoying strong levels of trade and benefitting from high footfall and a loyal, local customer base.
Having previously occupied a small retail space in a building opposite the current trading location, the opportunity presented itself to move into larger premises in the former school building, and previous owners, Gail and Paul Mather saw the potential to grow the business further. The business has since gone from strength to strength, as Mr and Mrs Mather have focused on customer service and providing locally sourced products, while increasing sales. The post office has also grown, providing a key service to Sherston, as well as surrounding villages.
Following 14 years of ownership, with Mr Mather acting as the designated postmaster during that time, Mr and Mrs Mather are now looking forward to their retirement and comment, “After 14 years working hard to develop Sherston Post Office & Stores, we are pleased to have now sold the business to Mid Counties Co-op. We have thoroughly enjoyed serving the local community and taking the business to the next level when we moved into the former school building, but it is now time for us to step aside and retire. We would like to thank Dave from Christie & Co for his guidance throughout the whole sale process from the initial scoping, to handling and managing offers and ensuring a satisfactory outcome.”
Dave Morris, Associate Director based in Christie & Co’s Bristol office handled the sale and comments, “It was great to work for Gail and Paul, placing the business under offer in a very short space of time. The market for convenience stores remains strong, particularly in the Cotswolds, with businesses like Sherston Post Office & Stores attracting high levels of interest. This interest is unlikely to change as we look forward to 2019.”
Sherston Post Office & Stores was sold off a guide price of £275,000 for the leasehold premium.
Andrew Murfin of Davey Law, Gloucester acted on behalf of Gail and Paul Mather, providing legal advice throughout the transaction.