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Hand Made Kitchen Manufacturer In Chandler's Ford For Sale

Eastleigh, Hampshire
Asking Price:
£65,000
Turnover:
£140,875
Net Profit:
£32,183

BUSINESS:
Established in 2013 this bespoke kitchen and home furniture design, manufacture and installation business operates from a modern industrial unit between Eastleigh and Winchester. Examples of the hand-made kitchen units are displayed in the showroom on the Mezzanine floor above the fully-equipped workshop. With 25 years' experience in cabinet making and bespoke furniture manufacture, the business understand the concept of making a kitchen fit the room rather than the room fit the kitchen as everything is made to measure. The business offers six kitchen cabinet styles ranging from shaker to contemporary, using only premium quality, sourced materials to produce furniture in European oak, American poplar and finished with the best-produced eco-friendly paints and oils. Alongside kitchen cabinets, the business design, manufacture and install bespoke offices for the home and furniture items. New website now available.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)
The vendor installed a mezzanine floor above the workshop at his own cost, to create a Showroom where their own hand-made cabinets are on display.
Floor Description Area m² Area ft²
Ground Workshop Below Mezzanine 61.72 664
Ground Workshop 16.69 180
Mezzanine Showroom 61.72 664
Mezzanine Timber Store 16.69 180
Total Area 156.82 1,688

EQUIPMENT INCLUDED:
Streibig Panel Wall Saw (cutting sheet material and rip sawing)
Sedgwick Tenoner
Sedgwick mortiser
Sedgwick Spindle Moulder
Axminster Pro Door Drum Sander
Sedgwick Planer
Axminster Pro Edge Sander
Rojek Lathe for wood turning and chisels
Extractor system for wood chippings
CAD design software

Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition

TENURE:
This is a leasehold opportunity with a 6-year lease in place which expires in 2019. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £10,800 per year. There are 3-yearly rent reviews with the next review due in 2019.
Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:
The rateable value of the business premises is £10,750 therefore zero rates payable in 2018/19.

NOTE:
This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

TRADE:
Accounts for the year ended 28 February 2017 inspected by Adams & Co show revenues of £137,997 with gross profits of £80,928 (58%). Sales entered on the last 4 VAT returns submitted to 31 January 2018 show increased annual sales of £141,035.
Please note that if a business is VAT registered, all figures exclude VAT.

STOCK:
The vendor informs us that the value of the stock varies throughout the year from £8,000 to £12,500

SERVICES:
We understand from the vendor that mains electricity and drainage are connected to the property.
HOURS:
Monday to Friday 9am - 5.30pm
Saturday 10am - 1.30pm
Sunday & evenings by appointment only

STAFF:
The vendor is a qualified joiner working full-time in the business. Responsible for initial client meetings to creating outline designs, produce drawings for approval and assist with the workshop build and installation. The vendor is supported by one full time qualified joiner and one part time painter

SERVICES
We understand from the vendor that mains electricity and drainage are connected to the property.

LEGAL FEES:
Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.

COMMENTS:
The vendor wishes to step back from ownership and looks forward to remaining with the business in a supporting role for the new owner if required.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

Property information

Property:

Leasehold

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