Leasehold Car Body Repair Business For Sale

Business description

Bag a Business Ltd is delighted to offer for sale this car body repair and paint finishing business based in Ramsey on the Isle of Man. Peel Motor Body Repair was established by our clients in 1962 and has built up an enviable reputation on the island. The business is Zurich Insurance approved and occupies spacious, leasehold premises. Currently the annual turnover is in the region of £126,000 achieving a 63% gross profit. However, the business is being operated at a pace to suit our clients, as they now wish to retire, offering immense scope to increase turnover further. In addition, the internal configuration of the premises would be ideal for additional car servicing and mechanical repairs. This is a particularly attractive acquisition, as there is a zero rate of income tax for businesses on the island from 2006, as well as no stamp duty and ability to rollover any capital gains tax from a property sale in England, Wales or Scotland. The area boasts excellent health care services, high educational standards, efficient transport and communication systems, together with a buoyant economy, political stability and traditional independence. This is a unique opportunity to acquire such a well established business with immense future potential and early viewing is highly recommended.

Property information

Property:

Leasehold

Lease terms:

Leasehold
Original length: 25 years
Remaining length: 22½ years
Review every: 5 years
Rent: £2,375 per quarter

Living accommodation:

Property Details Spacious, ground floor commercial premises with 3 phase electricity, mains gas, water and drainage services and forecourt parking for 6 vehicles, briefly comprising: Ground Floor • Office and reception area • W/C Front Workshop • Roller shutter doors • 2 x paint mixing rooms • 2 x commercial ovens - 1 x low bake & 1 gas • Paint thinner recycling units • Screw compressor • Oil storage tank • Preparation bay • Air filter system Rear Workshop • 2 x roller shutter doors • 2 x 2 post lifts • Black Hawk jig facilities • Beam setter • Lifting hoist • Compressor units • Engine hoist • 2 x welders • Staff W/C and washroom • Mezzanine level storage facility • 2 x fireproof paint storage areas External • Forecourt for 6 vehicles • Valet bay

Location:

Peel Motor Body Repair is situated within exceptionally spacious commercial premises on Shipyard Road, close to the centre of the historic town of Ramsey on the Isle of Man. It has a forecourt, to accommodate 6 cars, a separate valeting bay and vehicle access to three sides of the building. Ramsey is 16 miles north of the capital Douglas and is the island's second largest town. It is an especially desirable place to live as it is surrounded by outstanding countryside, as well as award winning sandy beaches. The business is easily accessible and is located on the Manx Electric Railway, and also on major bus routes.

Other information

Trading hours:

Mon - Fri: 8.00am - 4.30pm

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