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Lettings And Estate Agency In Fife For Sale

Fife, UK
Asking Price:
£70,000 Furniture / Fixtures included
Turnover:
Available on request
Net Profit:
Available on request

The business has been trading for nearly 20 years and is now on the market as the owners are looking to retire. The owners have operated in multiple sites throughout their franchise term but they have slowly sold off their other offices as they were scaling back their work commitments in readiness for retirement.

The business has not been fully developed and would benefit from the owner being involved day to day, recruiting more staff and generating new business to increase the income and in turn profit levels. It is primarily lettings focused, with the emphasis on a fully managed service. A sales service has not been launched and if referral fees for Financial Services were also introduced the business could reach its full potential.

97% income generated from lettings activity
82% 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.

Property Information

Property:

Freehold

Location:

There is a lot to love about this large town in Fife on the East Coast of Scotland. With a population of over 50,000 residents predicted to increase by 18% by 2036, this is the ideal time to invest. Property in the town is some of the most affordable in the UK with plans to increase housing by implementing strategic land allocations to provide a further 3,800 homes by 2028. The £1.6 million pound Council funded Waterfront generation to connect the community, town and waterfront to the town is a hidden coastal gem.

The busy town centre is host to a growing number of independent businesses who trade from the many colourful shop fronts and artisan markets, libraries and galleries. Kirkcaldy has 27 primary, secondary schools and colleges for families with 34% of the local population being educated to degree level.

One of the biggest service sector employers in the area is NHS Fife, although the town's largest employer is MGt Plc. Others of note include R Hutchinson Ltd, Adam Smith College, and Forbo-Flooring. There are four key business parks in Kirkcaldy: John Smith, Hayfield, Mitchelston, and Randolph. The town's harbour was also reopened to cargo ships in late 2011, and thanks to an £800,000 freight facilities grant, is now able to handle fast delivery from coastal ships.

Average rent pcm - £575 (Zoopla)
Average sales price - £141,210 (Zoopla)
Average monthly rental yield of 4.89%

Energy Performance Rating:
D

Business Operation

Reasons for selling:

Retirement

Employees:
2
Years established:
18

Franchise Information

Franchise opportunity:

Franchise Resale

Franchise terms:

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 £20,000 + 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.

Other Information

Support & training:

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, known as a Launch & Integration Manager. 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!

Financing available:

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.

Website:
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