Residential Letting Agent And Block Management Business For Sale

Business description

An opportunity to tap into the buoyant and expanding residential lettings market by purchasing an established and profitable Letting Agent and Block Management business located in a prime position in the heart of a thriving Hampshire city.


Well respected locally the business has grown to an annual turnover of £180,486 (FYE 2007) in just 5 years with the absolute minimum of advertising, marketing or any other form of active promotion. It has achieved this growth-rate almost solely on word-of-mouth recommendations and personal referrals.


A clear opportunity exists for the new owner to rapidly ramp-up revenues, simply by implementing effective marketing strategies.


The Letting Agent side of the business commands around 40% of the local market for student lets. The potential for further growth within this niche speciality is encouraging, due to the planned expansion of the city's university and the resultant growth of the student population. The business currently lets and manages 41 properties ranging from 1-bed flats to 6-bed houses. Since its inception, it has NEVER lost a landlord as a client.


The Block Management aspect of the business accounts for 60% of the total revenue, returning a gross profit of 98%. 49 blocks of flats and apartments are presently managed on behalf of landlords and lease holders in several towns and cities along the south coast. It has the distinct competitive advantage of being the only block management company operating out of the city. Repeat business from a number of local property developers contributes significantly to the continuing success of this side of the business. The potential also exists to expand into neighbouring counties.


The business is operated by its 2 owners ably assisted by 2 full-time staff. The owners are semi-retiring to concentrate on alternative business interests in France. They are prepared to stay on board for 3 months to ease the transition to new ownership.


The premises is a typical glass-fronted office of approximately 600 sq ft. The freehold is available at circa £99,000. The office attracts a high footfall of potential tenants due to its prime location on THE street in town to visit, if you are a student looking for good quality accommodation.


The business nets £7,144 per month after payroll and all overhead costs. The asking price is £249,000. Call David Mattocks today on xxxx xxx xxxx or email him xxxxxxxxx@xxxxxxxxxxxxxx.xxx xxx xxxx xxxxxxx.

Sunbelt Agent:

Other information

Reasons for selling:

Semi-retirement to pursue alternative business interests abroad.

Contact the seller