Four Freehold Apartments Providing Substantial Letting Income For Sale

Business description

Four freehold apartments in a prime sought after riverside area of Manchester city centre, currently let, one on a long term basis and the other three on lucrative nightly/weekly lets, primarily to corporate clients and offering superb income, are now offered for sale.

Each of these prime apartments are in delightful and sought after areas and come fully furnished and equipped and all have concierge facilities and parking. The short term let’s provide an income of £120-£200 nightly, depending on apartment and whether parking space is required, or not. The long term let, whilst not providing the same level of income, is a steady and continual source of income.

The management of these apartments is completely professional and is administered from Surrey, with little regular travelling to Manchester involved. With 24 hour concierge and local cleaning facilities, there is minimal involvement from the owners, other than booking and organising.

There is also a registered trading name and trading slogan in use with the company.

The owners have operated this business on a part time basis, but very successfully, since 2004 and are now ready to retire, thus offering this superb income and freehold based business for sale.

Key Strengths:

An income generative business, based on freehold property in prime sought after city centre locations with 24 hour concierge facilities, is the solid foundation upon which this business has been built and upon which it continues to expand. This is a lucrative business model and platform that will be a tremendous asset to those either currently involved in this market, or those wishing to enter it. It also provides an ideal model on which to expand into other areas of the UK.

Key Opportunities:

There are three main areas that the owners have identified as being key areas to grow the business. The first of these is for new owners to work full time on the letting side of the business and concentrate far more heavily on promotion, advertising and marketing.

The second would be for the creation of an interactive web site, whereby interested parties could book for themselves and finally there is an extremely large database of previous users and interested parties, which has never been utilised. This would provide a prime source of potential sales leads for those wishing to grow the business.

Property information

Property:

Freehold

Other information

Competition / Market:

The sole source of business advertising done by the owners is being registered on two late booking web sites. Other than this there is no advertising or marketing carried out, other than a website for the business. This provides an excellent opportunity for those more familiar with advertising and marketing and the use of the internet to seriously increase the profitability of this business. The creation of an interactive website would be of immense additional value to the business.

Support & training:

The owner will provide a handover period and is happy to provide a level of ongoing support thereafter.

Reasons for selling:

The owners have reached the stage where they now wish to retire.