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Long Established Mot Garage - Letchworth For Sale

Letchworth, Hertfordshire, UK
Asking Price:
£59,950 Furniture / Fixtures included
Sales Revenue:
£168,282
Cash Flow:
Available on request

Main Road Trading Location
Accounts Available Year End 31st December 2018
Annual Turnover £168,282
Gross Profit £71,689
Accounts Available After Viewing
Family Run Business
Established 1960
Retirement Sale
Excellent Reputation
Ample Free Parking
Scope To Open 7 Days
Potential For Longer Opening
Well Linked By A1
EPC - E

REF 6808 – Leasehold MOT Garage

Blacks Brokers are pleased to bring to the market this leasehold MOT garage located in a busy area of Letchworth, Hertfordshire.

INTRODUCTION

Icknield Garage (Letchworth) Ltd has been trading on Icknield Way since 1960 and is immediately next door to a petrol station and convenience store. Our client’s family have managed this business from its opening until now and they have secured an enviable reputation with large repeat customer base. Excellent reviews are noted on Google and Yell.

LOCATION

The business is positioned on a busy road with parking immediately outside. This is a popular area close to Letworth Garden City and the busy town centre. Neighbouring properties are mainly residential. The area is well linked by the A1(M) with good public transport links in place.

REASON FOR SALE

The business is ideally suited to a hands-on owner-operator but due to our client’s retirement wishes the business offered for sale. This presents an excellent opportunity for a new owner-operator or team to take the business to the next level.

LEASE

Our clients offer a new lease on a competitive rate on a Full Repair & Insure lease (FRI lease). This is the most common form of commercial lease. The new lease will be fully negotiated with the business sale, it will run at a cost of £385 per week for up to ten years.

BUILDING LAYOUT AND DESIGN

Icknield Garage (Letchworth) Ltd operates from a detached single storey property with large forecourt to the front. The business is well branded with large signage displayed above the main entrance. Inside, the main workshop area is presented well and fitted with a range of equipment including ramps and three lift bays.

There is also a customer service point and waiting area to the front along with two private offices and a kitchenette. To the rear of the property is a large enclosed yard area.

STAFF

The business is currently operating with two part members of staff in employment supporting our three clients also working on a full time basis.

FINANCIAL DETAILS

Icknield Garage (Letchworth) Ltd has traded well for many years and has an impressive trading history in place. Accounts for year ending 31st December 2018 show annual turnover of £168,282 with gross profit of £71,689. Full financial details are available upon viewing.

BUSINESS RATES

The business currently benefits from Small Business Rates Relief. Purchasers should enquire with relevant local authorities to confirm the rates payable.

SUMMARY

This leasehold business occupies a superb trading position on a main road close to a densely populated residential area as well as the town centre. There is plenty of scope to develop the business further with the introduction of seven day opening and late nights. This proposition would ideally suit an owner operating team who could push the business forward and build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Property Information

Property:

Leasehold

Business Operation

Trading hours:

MON - FRI: 08:30 - 18:00
SAT: 08:30 - 13:00
SUN: CLOSED

Contact Information

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