| (REF: CR161 ) Freehold Fully Let Commercial Office Block Property Investment Opportunity |
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| Seller Reference: |
CR161 |
| B4S Reference: |
18587 |
| Asking Price: |
£590,000
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| Net Profit: |
£21,000 |
| Sales Revenue: |
£50,000 |
| Number of Staff: |
Send enquiry for more details. |
| Established For: |
Send enquiry for more details. |
| Ownership: |
Freehold |
| Location: |
Undisclosed, Lincolnshire, United Kingdom |
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This is a business that is well run and delivering excellent returns. This substantial office block is offered on a freehold basis. The properties currently contains 5 commercial tenants three of them secured on five year lease contracts and two on 15 year terms. The property is delivering annual turnover of close to £25,000.
The business has succeeded through its highly flexible approach to signing up new tenants. New clients can start their agreement more or less immediately, depending on availability.
The concept of the business is to make life as easy as possible for its tenants. Simple, straightforward full repairing lease contracts are a big attraction as is the fact that the business does not charge a set up fee.
Aside from all of the other measures that the owners have taken to fill the property, the business also benefits from being part of a larger complex of buildings all of which attract tenants to the area. The complex was once an RAF facility with many of the buildings being quarters for the personnel; all have now been converted into various types of commercial letting property. The buildings are currently the only commercial properties within a large area of the county of Lincolnshire.
The business has spent over the past 10 years approximately £450,000 to fully renovate the building so that the new owners will have a walk in and trade option with limited maintenance over the coming years.
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Property: |
Freehold |
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Living Accommodation: |
No |
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Advertising and Marketing has been mainly via word of mouth recommendations and local press this has been successful to attract tenets and has been a cost conscious exercise. |
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As mentioned the ground floor two suites are yet to be let and would be idle to convert to the new 15 year lease terms increasing the turnover and earning potential of the property. This can be achieved by as little means as local advertising.
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The Vendor will offer all support and training needed to facilitate a smooth transfer of ownership. |
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The vendor wishes to take a well earned retirement. |
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Is this a home-based business? |
No |
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Can this business be relocated? |
No |
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Is this business part of a franchise? |
No |
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