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The business was initially launched in 2008 and was taken over by the current owner in May 2018. The current business owner operates in another Martin & Co office/territory and they now wish to concentrate on developing and focusing their attention on this.
The business is lettings focused, with the emphasis on a fully managed service. The business could be improved by increasing the managed portfolio, which in turn would generate repeat income on a monthly basis and over time this will increase the asset value. A sales service has not been launched so the business has not remotely reached its full potential.
There would be an opportunity to expand into the Student Lettings Market and in time also into Morecombe & Heysham.
The business would benefit from the owner working in the office and in turn increase the staff levels in order to generate more new business. Due to a failed EPC the office will need to relocate.
The business is being sold on a ‘goodwill’ basis and not a ‘share’ sale as the existing owner will continue to operate under the current legal entity.
100% income generated from lettings activity
73% income generated from the managed portfolio
Growth in income could be achieved through the sale of properties and financial services
Low level of multiple Landlords and no student properties
Further information is available upon request; please contact the seller below for more details.
Available as freehold and leasehold
Relocation to new offices will be required
The current business owner operates in another Martin & Co office/territory and they now wish to concentrate on developing and focusing their attention on this.
Martin & Co is a brand owned by The Property Franchise Group PLC, one of the UK's largest and most experienced franchise operators. The monthly Managed Services Fee (MSF) is 9% +VAT of your gross monthly income and includes unlimited ongoing Head Office support. The initial Franchise Fee is £18,500 +VAT and the Franchise Agreement is for 5 years. The Franchise Agreement is renewable for a fee of £500 +VAT, there is no upper limit to the number of franchise renewals.
The Property Franchise Group will ensure that you are fully trained before you take over the running of this business, including an in-depth induction course, market trends/analysis review, mentor training, plus on-site support days with an experienced property professional. We also offer various courses throughout the year for you and your staff. No previous property experience is required to make a success of this venture!
The Property Franchise Group can assist you with funding and the business model is seen very positively by our panel of high-street banks. You can secure up to 70% of the total costs of acquiring this business and any working capital required, and the business could be purchased with as little as 30% personal investment. Some sellers may consider staged payments and we can assist you in the negotiation of a suitable funding solution to meet your personal circumstances.
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