TWO years of escalating property prices have proved to be the death knell for Stutton village post office and store.When Kevin and Sue Brudenell first decided it was time to retire they were determined to sell their home with its attached successful business as a going concern.
TWO years of escalating property prices have proved to be the death knell for Stutton village post office and store.
When Kevin and Sue Brudenell first decided it was time to retire they were determined to sell their home with its attached successful business as a going concern.
But it didn't sell after being put on the market twice, at below the valuation price.
With no takers and after 17 years without a holiday, the couple have reluctantly decided to close the shop on March 29 next year, to the dismay of villagers.
Mr Brudenell, 55, said the newly announced £450 million lifeline for rural post offices would have made no difference to his decision.
He said income from the post office averaged £11,200 a year (gross) for a 43 hour week, which worked out at £5.01p per hour.
Jon Richardson, regional secretary for the Federation of Sub Postmasters, said: "It's very common in rural areas where the actual value of the house is more than the shop can bring in. The problem is that it normally has to be a commercial mortgage, which quite often means it's more like a loan than a mortgage.
"It's got far worse in the last two years because of the way property prices have rocketed."
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