Price: £749,500+ sav or leasehold to be agreed.
Fantastic freehold or leasehold business and investment opportunity in York
Ref: C 842
Tenure: Freehold or Leasehold
This extremely profitable business is run from expansive premises which include 2 spacious self contained flats, showroom, workshop, stores and inner yard. There is customer parking immediately outside on the large front forecourt and the whole property enjoys excellent visability from Boroughbridge Road, which is one of the main routes to and from the city centre.
The business has been established for over 25 years and now offered for sale for the first time by the current husband and wife owners who are seeking well earned retirement.
There are two businesses running in tandem, one being the retail sale and servicing of cycles and accessories and the other being the sale and servicing of lawnmowers and garden equipment. Both are equally successful and the whole business is extremely profitable. There are 3 full time and 1 part time employees in addition to the owners.
This is a genuinely excellent business coupled with freehold premises which include a good rental income from the flats. A leasehold sale of the business and ground floor premises would also be considered. Read on………!!
ACCOMMODATION ( note, all dimensions are approximate )
Showrooms 1827 sq ft ( 170 sq m )
Office area 142 sq ft ( 13 sq m )
Storage area 518 sq ft ( 48 sq m )
Lean to 162 sq ft ( 16 sq m )
Main workshop1082 sq ft ( 100 sq m )
Rear workshop 417 sq ft ( 39 sq m )
Net Internal Area approx 4148 sq ft ( 385 sq m )
Rear yard storage approx 1720 sq ft ( 160 sq m ) with small additional store and staff wc.
The 2 flats are approached from a metal staircase at the front which leads onto a flat roofed terrace providing an appealing outdoor space. Both flats are in very tidy order with modern kitchens and bathrooms.
169a Boroughbridge Road ( let at £650 pm )
Comprising of lounge, fitted kitchen, 2 bedrooms, bathroom/wc. Gas central heating, upvc double glazing.
171a Boroughbridge Road ( let at £650 pm )
Comprising of lounge, fitted kitchen, bedroom, bathroom/wc, spiral staircase up to Main bedroom. Gas central heating, upvc double glazing.
The premises have been assessed at RV £26,750 as from April 2017. Rates payable 2017 /2018 should be £13,107. Each flat is in C.T. Band B.
Interested parties are advised to check this information prior to proceeding since figures can change.
The business enjoys a substantial turnover and the accounts for year ended 31st January 2016 show sales of £434,571 with adjusted net profits approaching £100,000. We understand that sales are split roughly 50/50 between Kutters and Shannons, and the income is derived from both sales and repairs / servicing. Full accounts information can be made available to genuinely interested parties after having viewed the business and provided evidence of funding. There is no doubting that this is an extremely good business with rising sales and profitability. This, coupled with the extensive premises and rental income from 2 flats, makes this a stunning opportunity.
Around £749,500 + sav for a freehold sale.( stock levels vary but are usually over £100,000 ) A leasehold sale may also be considered ( to exclude the two flats ) which would involve creating a lease for a term and rent to be agreed and a capital sum for the business and stock. The details can be discussed with interested parties on request.
By arrangement with The Agents on 01904 794812.
Where staff are employed in a business, it is possible that they are unaware of any impending sale, therefore it is essential that all viewings are arranged through us and no direct approaches should be made under any circumstances.
All prices and rents are deemed to be exclusive of any VAT which may apply.
Details and general information provided within these particulars have been confirmed by The Client, are given in good faith and are believed to be correct, however all proposed purchasers/tenants must satisfy themselves as to the correctness of the information provided. We understand that all services and items of equipment are in functional order, but no warranties can be given in this respect. Neither the agents nor any person in their employ bind themselves in any way, nor are any warranties given as to the correctness of the information provided. No part of these particulars form part of any contract or agreement for sale or lease