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Well Established Letting Agency For Sale

UK
Asking Price:
£62,995
Turnover:
£243,175
Net Profit:
Available on request

Business
Please quote reference B06304

Hilton Smythe is delighted to present to the market My Home (GB), a very well-respected student/working professionals rental business established in 2012.

The easily transferable business opportunity was developed following our client's own difficulty in finding decent housing at a reasonable price when she arrived in London in 2007. Following a request for her own landlord to help interview for new tenants she began to establish relationships with further landlords.

Our client ran this business alongside her own teaching business and as a result many of the tenants she would find were French students looking for good quality rooms for a fixed agreement period.

The business is now being sold independently to allow our client to focus on her main business interest.

The agency also finds rooms for young professionals looking for good quality, affordable shared housing in and around the Greenwich/Lewisham area.

Key selling points of the business model include -

5 managed properties (each with 5 letting bedrooms)
5-year management contracts in place
Well known agency by European students
All maintenance managed in house
6- or 12-month letting agreements
No expensive search charges
1 month deposit required only
All-inclusive monthly rental charge
Private homes only
Over 600 students from Europe a year looking for accommodation
Low running costs
Focus on good quality, comfortable accommodation at affordable prices
Website included in sale

There are currently 25 let rooms with tenants paying the rent directly to the agency.

The demand for rooms is extremely high.

Our client admits she has run the business to suit and many of the current unnecessary office costs are not required for this business, she also employs a member of staff to work within the business which will not be required by any new more ‘hands-on’ business owner.

The business can easily be run from a new owner's home.

Further growth potential -

Add more private properties to the current portfolio
Increase maintenance charges
Increase current rents paid

Very rarely do letting agencies in this area come onto the open market, offering such low running costs with a guaranteed student demand.

Our client advises she will continue to work with any new buyer, providing all new enquiries from European students.

A full business handover offered.

Location
MYHOME(GB) LTD is located within the southeast part of London with the majority of the rented properties located near Greenwich.

The Greenwich area was originally chosen due to the location of the nearby education schools which many of the students who came to London had already formed a relationship with.

The Greenwich area is a very popular place to live and socialise, located on the banks of the River Thames and known for its maritime history. It is home to the Cutty Sark, a restored 19th century ship, the National Maritime Museum and classical buildings of the Royal Naval College. The modern O2 arena sits on the peninsula to the north.

Our client currently runs this business with another from an office in Greenwich however a fixed office is not required for this business model and therefore this is being sold as a ‘Business Only’ opportunity.

it would be advantageous to be located in southeast London.

Premises
Relocatable

Tenure
Business Only

Hours
The business trading ours are as followed:
Monday to Friday - 09:00am - 17:00pm

Saturday & Sunday - Closed

Staff
The business is managed and ran by our client.

Financial Profile
We are advised the business generated a turnover of circa £240,000 as of 2019, further financial information can be made available upon request.

Please quote reference B06304

Other Information

Relocatable:
This business can be relocated.

Contact Hilton Smythe

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