| (REF: 1257PE) Residential Lettings Agency With Over 140 Properties |
| |
| Seller Reference: |
1257PE |
| B4S Reference: |
32237 |
| Asking Price: |
£115,000
|
| Net Profit: |
|
| Sales Revenue: |
£88,775 |
| Number of Staff: |
3 |
| Established For: |
12 Years 0 Months |
| Ownership: |
Leasehold |
| Location: |
Undisclosed, Norfolk, United Kingdom |
| |
HISTORY
• Established 2000 in town by vendor following a lifetime of industry experience
• Marketed as an independent alternative to mainstream agents
• Originally set up as a franchise, approximately 50% of the business now operates with support of franchisor with the remainder operated solely by the vendor
• Client base of landlords and tenants carefully nurtured over many years
• Strong brand created
• An excellent reputation for service developed within the town
REASON FOR SALE
• Retirement
SERVICES
• Letting of all types of residential properties but typically up to 3 bedrooms with monthly rental of under £1,000
• Properties predominantly within 15 mile radius of town centre
• Full rental service, with administrative support, offered to tenants and landlords as required
• Homebuyer reports undertaken (sub-contracted)
CUSTOMERS
• Tenants are mainly couples or young families living or re-locating to the area
• Typically tenants are financially independent with extremely limited portfolio of DSS
• Landlords based throughout the UK with approximately 140 properties under management
• Customer base well spread with largest landlord having 12
properties but the majority having 1 or 2
• Typical leases are for renewable 6 or 12 month terms
STRENGTHS
• Mature and stable base of landlords and tenants
• Densely populated urban location
• Regular income from existing rental portfolio of 140 properties
• Ongoing administrative support from franchisor
• Established and respected presence within the town
• Excellent and very reliable financial performance
• Good administrative systems in place
• Excellent industry contacts and member of Association of Residential Lettings Agents, Ombudsman scheme and National Association of Estate Agents
DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only through the agents. N/B: All Negotiations must be conducted through Advent Business Sales. These details do not constitute part of an offer or contract and properties are offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by us, vendors or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967).
|
| |
Property: |
Leasehold |
| |
| |
Lease Terms: |
• Leasehold £5,388 per annum
• 3 year lease from January 2012 with yearly rent reviews
• Business rates currently nil
|
| |
| |
Living Accommodation: |
No |
| |
| |
Location: |
• Traditional shop premises located close to the centre of a West Norfolk market town
• Densely populated area with mix of retail, commercial and residential use
• Ample pay and display parking within easy walking distance
• Superb quality of life within rural Norfolk
|
| |
• Cost savings for working partners could be considerable with many opportunities to reduce costs
• Introduction of commercial rentals arm
• Focus on additional business development work to generate additional income streams
• Introduction of website beyond partner websites currently used
• Weekend opening
• Rental portfolio within the town is extensive
|
| |
Is this a home-based business? |
No |
| |
Can this business be relocated? |
No |
| |
Is this business part of a franchise? |
No |
| |
• Monday to Friday 9 AM to 5 PM
• Closed Saturday and Sundays
|
| |
• Vendor and spouse work within the business
• 1 part time 4 days per week AM
• 1 part time 5 days per week PM
• 1 part time 2 days per week AM
|
|
|
