£0 £1000000
£0 £1000000

Profitable Multifacet Garage on Substantial Site

Swaffham, Norfolk

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Sold

£177,950 +SAV

Ref: 3007

Leasehold

Overview

Current stock value circa £100,000 Freehold Option is available by separate negotiation Hilton Smythe is delighted to welcome to the market Trevor Greef Motor Services Ltd. This successful business which was originally established in 1993 by our client is the largest independent garage in the area. Our client is now looking to sell the business due to early retirement at a reduced price to sell. Our client has been in the industry for 52 years. This multi-facet business is very well known in the area with an excellent reputation and has acquired a loyal client base over the many years of trading. The current turnover for year ending 2014/15 is an advised £1,200,000 per annum with a gross profit of 17%, this is a great turnover but we believe there is still room for growth. Our client believes there is growth because he hasn’t been pushing the business to its highest potential for the past year or so this can be achieved by promoting on social media as this is the only mobility business in the area and the workshop is always fully booked. The garage operates from 3 fully equipped workshops offering a host of services including servicing and repairs, batteries and exhaust fitting and tyre replacement. The business has a fleet of 4 leased courtesy cars (expiring 2017) for customers to use whist repairs are carried out. The garage is also RAC approved and regularly carry out work they refer. Our client holds a number of exclusive large service accounts, one such account incorporates a fleet of around 60 vehicles. In addition the modern MOT bay is able to test classes 4, 5 & 7 and local Council taxis. The fully equipped body shop offers services from smart repairs to full re-sprays. The business also specialises in Mobility products for the disabled, displaying a wide range of quality powered and manual wheelchairs, scooters and other products from leading UK and global suppliers. The Mobility centre also offers servicing, maintenance and repairs. We are advised there are 7 elderly homes in the area, with a marketing campaign further business could be attained. This is accommodated in the large car showroom area. Furthermore, the business is a popular used car sales provider, with a generous sized forecourt and a comprehensive website www.tgautos.co.uk. Although successful, we believe there is the potential for much further income by attaining a franchised dealership/specialist dealer site or extending opening hours to maximise custom. We are advised that the business is offered leasehold, with an option to negotiate the freehold with the landlord. This business is ideal for a purchaser looking for a long term stable investment which could achieve much more in an ever increasing populated area. Hilton Smythe advise early viewing to avoid disappointment due to the sale price it is being offered for and the quality of the site.

Turnover
The current turnover for year ending 2014/15 is an advised £1,200,000 per annum with a gross profit of 17%.

The business is run and managed by our client with the help of 8 members of staff and some part time staff.

The business is open- Monday - Friday: 8:15am - 5:30pmSaturday: 8:15am – 4pmSunday: Closed

The business is located just outside the town centre of the affluent market town of Swaffham, Norfolk. A prime trading location on the arterial A1065, a main commuter road into the town centre, and close to where the A47 intercepts. The business is situated on a sizable site with large forecourt to the front (40 cars +), additional inner forecourt (25 cars +) and a substantial car park to the rear (30 cars+) and directly facing a large Superstore and an Industrial Estate, ensuring good footfall and heavy passing trade throughout the day. We are advised that the area population has doubled in size since 2000.

Total area 8,500sq ft approximately. (subject to survey). Forecourt to the front with space for up to 40 used cars, with signage and highly visible to passing trade. Ample additional parking areas for customers and visitors in front of showroom. The 5 x vehicle sized show room with 2 front facing entrance doors and roller shutter door to the side for vehicle access. Reception/showroom area, display and waiting area Displays of Mobility products for the disabled. Customer/disabled w/c Kitchen area 4 x offices. Fully automated Telephone system. Dial up Alarm System and auto fire alarm system.(Work shop 1 - fully equipped for servicing and repairs with:2 x 2 post ramps, tyre changing equipment, Air con equipment, diagnostics, wc and washroom.Mezzanine upper floor area with office. Workshop 2 – body shop equipped for minor bumps, accident and paint repairs to full resprays (including classic cars).1 x 2 post ramp, 1 x 4 post ramp, self-contained spray booth with extraction & infra-red drying system (fixed & portable) filtered screw compressor.Mezzanine upper floor area with office and washroom Workshop 3 – Repairs, servicing & MOT’s – large roller shutter door Qty2, 3 tonne 2 post rampsQty 1, 4 tonne ramp – for larger vehicles, motor homes and LWB vans etc.Qty1, 4 tonne 4 post platform ramp (ATL MOT bay).Office w/c and washroom.Mezzanine upper floor storage areaAdditional storage room for parts storage. All equipment is up to date and all assets have been purchased as they are not leased.

Tenure
We are advised the business is Leasehold. Freehold Option is available by separate negotiation Original lease length: 21 years ( Until June 2027)Remaining lease length: 11 years (with option to terminate in 2020 a 7 year clause break).Rent review is every 3 yearsCurrent rent: £30,000 per annum We are advised the landlord would be happy to negotiate a new lease. Terms and conditions to be agreed.

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