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Horticultural & Garden Machinery Sales, Service & Repairs For Sale

Romsey, Hampshire
Asking Price:
£120,000
Turnover:
£443,261
Net Profit:
Under £50K

BUSINESS:
Established in 1990 this profitable, family-run business operates from substantial two-storey premises in a pleasant, rural location. Conveniently close to the M27/M3 motorway network as well as the main urban centres of Southampton, Winchester, Romsey and Salisbury. In addition to retail customers delivering their machines for repair or service, the business maintains accounts with numerous commercial clients who enjoy on-site repairs. On average customers are quoted a 7-day turn-around peaking at 21 days during the high season for machines delivered to the premises. Revenues from sales, service, repairs are split 60% retail & 40% commercial customers.

New & Used Machinery Sales
An excellent range of leading manufacturers' machines are stocked and serviced including the following makes Husqvarna, Stihl, Efco, Kubota, Mountfield, Ransomes, Hayter, Honda, Allen Power, Briggs & Stratton, Toro, Lawn King, John Deere and Atco. There is usually a selection of pre-owned equipment that will have been repaired and serviced and available to customers to buy.

Machinery Hire
A wide range of garden machinery and landscaping tools are available for hire including ride on mowers, walk behind mowers, strimmers and brush cutters, pole saws, leaf blowers and vacuums, tillers (cultivators), scarafiers, and slitters. Landscaping tools for hire include a stone-burier, a paddock topper, an over-seeder and a seed bed preparation tool. A fast tow chipper, 240v electric log splitters, various petrol log splitters and a selection of tripod Arb ladders are also available.

BUSINESS PREMISES:
(all sizes are approximate & should be considered 'nominal'.)

Occupying a delightful rural location between Romsey and Winchester, the business operates from a modern 2-storey unit offering approximately 7,000 sq ft divided into a fully equipped 1,500 sq ft workshop plus 3,100 sq ft of internal ground floor storage. Stairs lead up to the first floor offices, customer service counter, a well-stocked showroom and the parts store totalling approximately 2,300sqft of useable space. All parts are bar-coded and the fully computerised stock management system ensures efficient, cost-effective parts ordering and handling.

BUSINESS PREMISES: (contd)
(all sizes are approximate & should be considered 'nominal'.)
Floor Description Area m²
Ground Floor Workshop 136.54
Ground Floor Area under supported floor 38.60
Ground Floor Store 76.44
Ground Floor Area under supported floor 179.09
First Floor Showroom 179.09
First Floor Internal storage 38.60
Sub total area per m² 648.36
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 5 year lease in place which expires on 1 March 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 £18,000 per year. 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 for 2017/18
has been assessed as £16,250.
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.

SERVICES:
We understand from the vendor that mains water and electricity services are connected to the property.

TRADE:
Accounts inspected by Adams & Co for the year ended 31 January 2018 show revenues of £433,261 with an improved gross profits of £183,260 (38%) compared to 2017 revenues of £430,442 with gross profits of £162,188 (38%). Where a business is registered for VAT, all figures quoted exclude VAT.

HOURS:
Monday to Friday 07:30 to 16:30
Saturday 10:00 to 14:00
Sunday Closed

STAFF:
Both Vendors work in the business supported by 2 full time and 1 part time workshop mechanics and 1 full time Sales and Parts Manager

STOCK:
The vendor informs us that the value of the stock varies according to the season but is currently in the region of £265,000

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 Vendors now wish to pursue a non-competing interest which has created an excellent opportunity for the Purchaser to build on the solid foundations laid down over the past 27 years of trading.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

Property information

Property:

Leasehold

Lease Terms:

This is a leasehold opportunity with a 5 year lease in place which expires on 1 March 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 £18,000 per year

Location:

Close to the ancient town of Romsey in Hampshire which has a population of around 17,000.

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  1. What will happen?

    We will pass a copy of your enquiry information, along with the name of the business you enquired on to finance specialists Rangewell. They will contact you in due course about financing your business purchase.

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