Freehold MOT Garage And Car Sales With Planning For Sale

Business description

HISTORY

• This is an exceptionally well established garage which was originally founded in 1955 by the vendor’s father. His son took over the business in 1971

REASON FOR SALE

• The garage is only now being reluctantly offered for sale as the vendor wishes to retire

PRODUCTS / SERVICES

• This is a multi income stream garage which includes:
• Car sales – currently approximately 60 cars a year are sold with an average margin of circa £750 per vehicle. There is parking on site for around 15 cars for sale
• Class 4 MOTs – approximately 30 per week are completed, of which circa 60% are retail clients and 40% trade. Retail are charged at £45 each and trade at £38 each
• Repairs, servicing, welding, tyres, wheel balancing, exhausts and shock absorbers

CUSTOMERS

• Strong and loyal customer base which has been built up over many years
• Predominantly private individuals, circa 80%, and smaller garages with no MOT facilities

STRENGTHS

• An exceptionally well established business which has been trading for over 56 years
• Many different income streams which include: Car sales, MOTs, repairs, servicing, tyres, exhausts, welding, etc
• Strong and loyal customer base built up over many years of trading
• Excellent annual sales of circa £400,000 which is being achieved consistently and is currently producing net profits in the region of £51,000 pa
• The vendor informs us there is planning permission in place for 2 three bed detached houses and 2 semi detached two bed bungalows


The business is available either Freehold £480,000 +SAV or Leasehold £160,00 +SAV





DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).

Property information

Property:

Freehold

Lease terms:

• Leasehold / Freehold
• Original Lease: 9 years
• Lease remaining: 9 years
• Review every: 3 years
• Rent: £20,000 per annum
• Rates: £500 per annum

Location:

• The garage has an excellent high visibility location in the centre of a popular and busy residential area in a major town in Suffolk.

Premises details:

• Detached single storey premises set in the heart of a popular residential area and which briefly comprises:
• Gated entry from the pavement into the large car park which can accommodate approximately 15 cars for sale, plus extra spaces for MOT and repair clients
• Garage itself set in the bottom corner of the plot, 2 off double sliding doors giving entry onto 2 facing ramps
• Side electric roller shutter door allowing entry to the MOT bay with 4 poster ramp
• Corner office with mezzanine storage above
• W/C, kitchen area, drinks machine, outside shed storage
• The premises benefits from double glazing, being alarmed and with a 4 camera CCTV system

Business Operation

Expansion potential:

• Registering to carry out class 7 MOTs and motorbike MOTs
• Advertise as virtually none is carried out at the moment
• The site is ideal for residential development purposes

Trading hours:

• Weekdays 8am to 6pm
• Saturday 8.30am to 1pm
• Sunday closed

Employees:

• 3 full time employees, all of whom are approved MOT testers • A part time book keeper who works 1 day per week • The vendor is prepared to work with a new owner to ensure a smooth transition and to give the necessary introductions to both staff and clients

Other information

Related documents:

• 
• Sales Particulars

• 
• EPC

Leasehold asking price:

£160,000