• ESTABLISHED BY CURRENT OWNER 25 YEARS AGO
• OFFERED WITH RURAL STUDIO OR FOR RELOCATION
• RUN BY PRINCIPAL PLUS ONE SENIOR AND ONE JUNIOR
• GOOD MIX OF COMMERCIAL AND DOMESTIC CLIENT WORK
• OWNER WILLING TO STAY ON AS CONSULTANT
The practice operates from a delightful open plan studio among other independently owned businesses occupying rented units in an idyllic rural location close to the A303 and A358 near South Petherton. Offered either with the premises or for relocation, most work emanates from South and West Somerset and West Dorset with clients also in the Exeter area, on the Wiltshire border as well as occasional instructions much further afield through referrals from regular developer and care home clients.
This long established and most successful single principal architects’ practice operates from delightful studio premises in an idyllic rural location in South Somerset with easy access to the A303 trunk route and the A358 but is suitable for relocation if desired.
With an excellent reputation for quality based upon a personal approach the business has a good mix of commercial and domestic client work, the former encompassing both care home and developer clients. The core activities comprise planning and building regulations applications, local authority consultations, tender procedures, some contract administration and architect’s certificates for developers. Most clients have a builder already in place and as a result little full service work is undertaken.
The trading history over recent years is strong with excellent profitability in evidence. Recent staff changes and the current involvement of self-employed practitioners as required offers a new owner considerable flexibility of staffing structure and the vendor is willing to continue to work flexibly on either a fee earning basis or in an administrative role if desired.
Considered an ideal opportunity for a Registered Architect to operate independently, or for a technician to acquire a practice with the option of employing a qualified person, vendor finance will be made available to the right buyer. The business has been priced sensibly to attract early interest and offers are invited from proceedable parties.
The vendor formed the practice more than 25 years ago, originally in Berkshire. The business has traded from the current premises since 2000.
Please note that if a business is VAT registered, all figures exclude VAT.
Sales in the last three financial years have been as follows:
Influenced by the enforced absence of the owner having broken his hip in late 2015, and by the departure of the junior team member to work nearer home, as well as the planned departure of the senior architect to work specifically for a single developer client, sales are now predicted to run at c £150,000 in the next 12 months (based upon current management figures) and the asking price has been set to take this into account.
The abridged net profit of the business in the last three financial years (before depreciation, amortization of goodwill and accountancy fees) was as follows:
REASON FOR SALE:
The vendor is in his early 70’s and, influenced by this and his slower than wished for recovery from his broken hip he feels now is a sensible time to at least semi-retire.
Until three years ago the practice was operated with the full time involvement of the owner with the support of a senior and junior architect together with a secretary. Prior to the enforced absence of the vendor through temporary physical incapacity in late 2015, he had reduced his hours to be able to enjoy more leisure time as the first step towards retirement.
The departure of the junior and the planned departure of the senior is being covered through the part-time involvement of two self-employed architects who are happy to work flexibly as well as increased hours by the owner. The secretarial position is currently shared between two part-time staff.
The change in the fixed salary structure offers considerable flexibility to a new owner, who ideally will be a Registered Architect. The vendor is quite willing to carry on working flexibly for a new owner by undertaking fee work or administrative duties if desired and is prepared to carry out the overview responsibilities for the time being if the business is acquired by a technician ahead of the achievement of the necessary qualification.
The office is manned Monday to Friday between 9.00am and 5.00pm.
(all sizes are approximate & should be considered 'nominal'.)
The business occupies a first floor studio with all necessary ancillary facilities including mezzanine storage space and parking in an adjacent former farm yard on a first come, first served basis. The premises are open plan, comprehensively equipped and most attractively presented with a stunning rural outlook and yet lie within a short distance of the A303 and A358 giving easy access to the majority of clients. The property was rebuilt following a fire, which involved full replacement of the roof, and the space now occupied was then converted under the supervision of, and at the cost of, the vendor in lieu of rent, this resulting in an exceptional working environment worthy of a full external and internal inspection.
Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.
(all sizes are approximate & should be considered 'nominal'.)
Car parking is available in the former farm yard on a first come, first served basis.
The business is available for relocation if desired. However, if the purchaser wishes to take over the existing studio premises these are currently held under a tenancy agreement from 1/5/2015 which can be terminated with 6 months’ notice (the units appear very popular and it seems very likely that a new tenant could be found quickly to obviate the need to give such notice). Rent is payable at £652.50 per month (£7,830 pa) with a separate service charge of c £34.50 per month and an apportioned electricity charge.
ENERGY PERFORMANCE RATING:
If a purchaser wishes to take over the existing premises an energy performance certificate will be made available.
Is this business relocatable: Yes
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