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After all other efforts to save the area's post office failed, Councillor Riaz has now decided to step in and run it himself from August with his family.
The politician, who is part of Worcester City Council's new Labour leadership, said he felt he owed it to the community.
"The current postmaster wants to relocate to elsewhere in the country, so we've known for some time we needed to find someone else," he said.
"Eighteen months ago I managed to convince him to stay on, but 12-14 months back it started to get serious and I knew we had to do something.
"We've tried desperately to get another home for it, the Tesco Express, Waitrose, the booze shop, the newsagents in Wyld's Lane.
"Nothing came off so we've decided to take it on ourselves, it's a relief that we've been able to keep the post office, to be honest.
"I'd like to thank all our existing customers and our plan is to heavily involve the post office in the lives of the local community and extend the variety of the retail."
Mark Fincher, 52, the current postmaster, is relocating to York and planning to work for a parcel distribution firm.
"I've been here for five years and the post office has been good for me, but this is a fresh start," he said.
"York is very pretty. The post office really needs a couple who can build it up."
Councillor Riaz will take it over from August, with the help of his wife Sajeeda and his sister-in-law who are planning to staff it.
He also says he may extend the opening hours, from 8am to 6pm in the week, giving customers an extra 30 minutes.
It has been greeted with delight by people who live nearby.
Brian Griffiths, aged 59, of Sebright Avenue, said: "That post office is a lifeline, people use it all the time - good luck to him."
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Worcester's threatened London Road Post Office SAVED after city councillor takes it over
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Worcester's threatened London Road Post Office SAVED after city councillor takes it over
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