Estate Agents/Letting Agents for sale in Greater Manchester

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Mr & Mrs Campbell (Jan 2015)
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Asking price: Offers Invited Annual Turnover: £850,000 Annual Net Profit: £200,000
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Business Description
Opportunity to acquire a lettings & estate agency business operating from 4 leased premises in Greater Manchester.

The Company is well established and has been trading for over 30 years.

The Company’s turnover for the years ended 31 May 2014 & 15 are shown below:

• 2014 £801,602
• 2015 £849,000

The sales mix for the years ended 31st May 2014 & 31 May 2015 is:

• 2014 Estate agency fees £634,000 79%
Letting fees £148,000 19%
Commissions £19,000 2%

• 2015 Estate agency fees £675,000 80%
Letting fees £156,000 18%
Other services £19,000 2%

Company EBITDA for the year ended 31st May 2014 is:

• £183,487

Company EBITDA, adjusted to exclude costs relating to the majority shareholders for the year ended 31st May 2014 is:

• 2014 £230,943

By embracing core principles of quality service and customer care the Company has built up a base of loyal customers and is synonymous with the local property market.

The Company has built up a base of loyal landlords and currently has 139 managed properties within its portfolio.

The son of the founder has been managing director of the Company since 2012, he has been responsible for driving the growth the Company has experienced over recent years.

It is assumed that as part of the deal the MD would work on and continue to lead the team. He would look forward to a targeted earnout and is confident he could continue to increase the sales beyond completion.

In addition to the two directors, the business employs 13 members of staff:

• 3 x Office Manager
• 1 x Lettings Manager
• 9 x General employees

Further information is available upon signature of a non-disclosure agreement.
Listed by: SunAxis
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