Business description

HIGHLY PROFITABLE INDEPENDENT MORTGAGE BROKER WITH ESTATE AGENCY This is an excellent opportunity to purchase a superb Independent Mortgage Broker established in 1999 with an excellent client base of approximately 3000 which has been developed over the last ten years. The business benefits from a good number of referrals from other estate agents and enquiries from their web site. Approximately 70% of the business is re-mortgages. The estate agency was established at the beginning of 2005 and has steadily grown to now be one of the most successful in the town. The pipeline and stock has always been at a healthy level and the agency is totally staff run. TENURE: Leasehold Pipeline: The agency pipeline normally runs at approximately £20,000. Legal Fees: Vendors and purchasers to meet their own contractual costs. Rates: Business rates payable of £6,550 pa with small business relief. Turnover: Turnover in excess of £300,000 pa with the obviously high gross profits leading to an excellent net profit.

Property information

Property:

Leasehold

Lease terms:

Tenure: There are fifteen years remaining on the lease with a current rent of £16,500 pa.

Location:

Property: High street premises with the estate agency located on the ground floor and the mortgage broker on the first floor. 2 allotted parking spaces at the rear.

Other information

Reasons for selling:

The vendors wish to move into a different sector of the market.

Trading hours:

9.00 am to 6.00 pm Monday to Saturday, 10.00 am to 2.00 pm Sunday.