Intelligent business transfer are delighted to offer the opportunity to purchase a truly magnificent business which is rarely available with such good quality historical accounts and previous trade.
A snapshot of turnover for the last 5 years shows an average annual turnover of £750,000 with adjusted net profits of £170,000 pa and gross profits at 62%. There is an excellent mix of income streams, from car sales, MOT’s and repairs & servicing, that has become locally renowned for quality and service to its clients. There is still much growth in the business for a partnership or family unit to continue to build on what the current family have already achieved.
Our clients have been the owners since 1995, although had previously worked in the business since 1986 with the operation being in existence since 1960. The current trading name has been in use since 1979, and serving the local and wider community successfully for many years, the business benefits a healthy passing trade and has much repeat custom.
In this mainly ‘word of mouth’ and recommendation business, there is room for further marketing and advertising to increase revenue further. The addition of a petrol and fuel offering could also be considered, as could a bodywork repair shop.
On further inspection of the tenure there is a possibility to purchase the Freehold of the site from Portsmouth City Council following the ‘buy out’ of our client’s lease and business. Currently held on a 21 year lease with 17 remaining, the annual rent is £39,000 with rates payable at £10,000 pa.
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