Freehold Old Established Garage Premises For Sale

Business description

We understand the business has been established since 1959 and has been in the present hands for the past 7 years. At present operated mainly for the sale of vans with some car sales and with the benefit of a workshop. At present the workshop is only utilised for servicing the vans sold by the owner, however, at the present time any major repairs required are contracted out to another garage in the town.

The premises have approx. 47ft frontage with a depth in the region of 150ft can be locked for security at night.

Tarmaced display area for approx. 20 vehicles

Office/Sales area with desk

Valet Bay (could be additional workshop area, if required)

Workshop with 4-poster lift and compressor

As stated the workshop is at present used virtually exclusively (95%) for servicing of the vehicles being sold.

Property information

Property:

Freehold

Lease terms:

The vendor owns the freehold and subject to satisfactory references is prepared to grant a new 12 years full repairing and insuring lease at a rental of £15,000 p.a. exclusive of rates for the first 3 years, with rent review at that time and thereafter every 3 years.

Uniform Business Rates: £1,150 p.a. approx.

OUTSTANDING OPPORTUNITY TO ACQUIRE A FREEHOLD GARAGE/CAR SALES SITE. WE UNDERSTAND THE FREEHOLD WAS VALUED IN AUGUST, 2007 AT APPROXIMATELY £250,000.

THE BUSINESS HAS BEEN IN THE SAME HANDS FOR THE PAST 8 YEARS AND THERE ARE GENUINE REASONS FOR SALE.

PERSONALLY INSPECTED AND HIGHLY RECOMMENDED

MUST BE SEEN TO BE FULLY APPRECIATED

Location:

Situated densely populated residential and commercial area, close to town centre, NORTHANTS.

Other information

Expansion potential:

WE ARE INFORMED the turnover is in the region of £4,500/£5,000 p.w. in our opinion offering tremendous potential for further development in the right hands. We are further advised that the sales year ending 31st January, 2008 showed £202,000 with a gross profit of £44,815.

Reasons for selling:

TO INCLUDE THE NEW LEASE, GOODWILL, FIXTURES & FITTINGS £44,950 plus STOCK AT VALUATION (£25,000/£30,000 approx. optiona). SUBSTANTIAL LOAN TO AN APPROVED APPLICANT OR OFFERS INVITED TO INCLUDE THE VALUABLE FREEHOLD PROPERTY, GOODWILL, FIXTURES & FITTINGS in the region of £250,000 plus STOCK AT VALUATION (£30,000 approx. optional) SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT

Trading hours:

Monday - Friday inclusive - 8 a.m. - 6 p.m.
Saturday opening - 8 a.m. - 2 p.m. only
NO SUNDAY TRADING

Financing available:

SUBSTANTIAL MORTGAGE TO AN APPROVED APPLICANT