MOT STATION (CLASS 4), SERVICING, REPAIRS, TYRES & EXHAUSTS operating from a LIGHT INDUSTRIAL PREMISES measuring approximately 3,978 SQ. FT. and located on a RESIDENTIAL ROAD that is in a NORTH ESSEX TOWN CENTRE. The business, which has been ESTABLISHED SINCE 1952 and has operated under the SAME OWNERSHIP FOR 22 YEARS, is brought to market with a GENUINE REASON FOR SALE due to retirement. The business does 30+ MOTS PER WEEK in addition to all related workshop service including but not limited to Tyres, Wheel Alignment, Brakes, Clutches, Exhausts, Steering, Suspension and Diagnostics. Being sold with a FULL COMPLEMENT OF EQUIPMENT inclusive of Tyre Machine, Balancer, Hydraulic Press, Bearing Press, 600L Waste Oil Drum, Propane Burner, High-end Diagnostics Equipment, and New Tracking Equipment. Additional income is generated from a 3 BEDROOM SELF-CONTAINED FLAT currently let at £775 PCM that increases to £850 PCM from June 2023. We feel there is HUGE POTENTIAL in younger hands for an experienced mechanic/MOT tester looking to own their own business and property. Equally this business lends itself to an acquisition from an already established operator looking to expand their network and investment portfolio. EARLY VIEWING ADVISED. OUR REF: RX------ A6690E
Location
The business is situated within a busy neighbourhood close to the seafront on a secondary shopping parade adjoining the main shopping district which forms part of the town centre. The shopping parade provides a good mix of independent and household name traders such as Vodaphone, Poundland and Argos which all generate considerable foot traffic to the immediate and surrounding areas. Other independent traders noted within the immediate area include a bakers, coffee shop, nail salon, seasonal gift store and a barbers. The site offers good customer parking of 7 spaces to the front.
Premises
The premises comprise a ground-floor lock-up light industrial unit. Internally, the premises measure approximately 3,978 sq. ft. (dimensions obtained from the VOA Office website) and are arranged as follows:
Office
Accommodating up to 5 seated customers, there is a reception desk and the office also benefits from spotlighting to the ceiling, tiled floors and half-tiled walls along with a KITCHEN/LAUNDRY ROOM and separate TOILETS.
Workshop
OPEN-PLAN WORKSHOP - equipped with a rolling road, 4 x 2 post ramps, 1 x ATL MOT bay, tyre fitting area, diagnostic stations and an extensive inventory of workshop equipment. MANAGER'S/OWNER'S ROOM/OFFICE, SEPARATE MOT OFFICE and a MEZZANINE with retail tyre storage space.
NOTE: The premises are very well presented and appear to be in a good condition.
3-Bedroom Self-Contained Flat
Accessed via a street-level door, an internal staircase leads you to an L-shaped landing/corridor currently arranged with bedroom 1 and bedroom 2 on the right-hand side. On the left-hand side is a shower room, family bathroom, kitchen and bedroom 3. Towards the end of the landing/corridor is the large open plan lounge/dining area. This is typically a larger than normal flat that was formerly a 4 bedroom dwelling.
NOTE: The residential accommodation has not been inspected by Gilbert & Rose.
Staff & Trading Hours
The vendor works full time and is assisted by 2 full-time MOT testers and 1 full-time apprentice. 8.30 am to 6.00 pm Monday to Friday. We are advised trading hours are unrestricted and our client used to open on Saturdays.
Turnover
Turnover on the latest set of accounts show £376,112 NET SALES with a HIGH GROSS PROFIT MARGIN OF 53% that yields ADJUSTED NET PROFITS OF AROUND £75,000. Full financial information will be made available to serious interested parties on or after a meeting.
Business Rates
The premises are subject to a rateable value of £14,000. We are further advised that business rates payable are £4,582 per annum and are currently under review for a reduction.
Legal Costs
Each party are to be responsible for their own legal costs incurred in the transaction.
Summary
Rarely does such a sizeable property with such a long established business that's been in the same hands for over 2 decades and located in the heart of a town centre become available so we anticipate serious enquiries only. Additionally the property benefits from an income generating residential dwelling above only adding to the healthy profits so an early inspection is encouraged by Gilbert & Rose.
Disclaimer
Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.
