Property Estate Letting Agency For Sale

Business description

This business is a highly specialised dedicated residential lettings and property management agency with a commitment of being a first class provider of high quality and friendly services to landlords and tenants. This service usually includes the acquiring, letting, managing and re-marketing of residential property on behalf of overseas and UK landlords.

Operating from a prestigious location this well-established profitable business was established some twenty-five years ago and has been under the current ownership since 2001. The business is the oldest and largest sole residential letting agency in the area and offers a flexible range of services that can be tailor made to meet individual requirements. The management technique has developed to match the needs of landlords and tenants.

This business employs excellent and established quality staff who are completely competent to run the business without the need of the proprietor to be present all the time. Clients are offered a high quality service that combines the use of modern technology with personal attention to detail. The business operates a rapid response policy to ensure that landlords, tenants and the property receive the best attention at all times.

The company have invested significantly in a new computer system that is networked to a server and a new website, this allows for regular contact with tenants via the extensive tenant database and worldwide exposure via the company website.

The business also has a good quality Xerox photocopier designed to guarantee accuracy and continuity in the day-to-day running of the business. Each member of staff has a complete set of hardware comprising the latest generation computers’ for administration and negotiations purposes with instant access to all relevant information. The company has a high success rate in obtaining new properties following meetings with prospective landlords.

Property information

Location:

This business operates from well-maintained and proportioned offices within an established building in a prime location. These premises offer excellent expansion possibilities in the future with further offices available within the same building.

Currently the business is operating from convenient ground floor offices that are leasehold and have approximately twenty years remaining.

Other information

Expansion potential:

This would be an ideal opportunity for another letting agent to boost its own business by acquiring this company’s database or for a property owner or developer to manage his or her own property portfolio and increase turnover by entering the commercial lettings market.

Further scope to expand on an established name by opening other offices at satellite locations in surrounding areas and across the UK and as there are tremendous opportunities for increasing the house and flat letting portfolio.

There is unlimited potential within this business, with a tried and proven history of success and profitability. Strategic expansion into further related schemes would offer this financially attractive business even more upside potential. Additional mortgage business could be developed plus more business could be obtained via the property maintenance department and further links could be established with Pensioner Trustees Companies, e.g. offering services to SIPPs, pension trusts, etc.

The location of the present business is in a very vibrant area, a Tesco supermarket, including petrol station have recently opened just around the corner and a thirty-six apartment building and ground floor café bar is about to commence development. A £90 Million Civic Centre is also about to be constructed within a very close proximity of the office premises.

Competition / Market:

The business currently utilises various advertising techniques, Yellow pages, local press, Yell.com are methods used to showcase and promote this company. Most new business is as a result of word of mouth and repeat business, bearing strong testimony to the company’s excellent reputation for expert advice and efficiency. The business also has an extensive website that provides information about the company, accommodation currently available, and information on the services offered by the team, this website is well used and popular and is maintained by the staff in-house. Further more assertive methods of marketing could be used, a TFT monitor could be set up at the office shop window to display houses available from a computer link; leaflet drops to local houses and business could be arranged.

Support & training:

Our client is happy to fully assist with a handover and training period to be negotiated prior to the sale.

Reasons for selling:

The business is ready to transfer to an existing Estate Agent or Letting Agent wanting to expand its Portfolio of Clients, or to a Property Owner wanting a system to manage its Portfolio of Properties.