PRIME CAR SALES SITE IN AFFLUENT STH. HANTS TOWN

Lymington, Hampshire
Leasehold Price:
£100,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
214239
Reference
HW1514 / Rightbiz

Details

The business is located in Pennington, on the western outskirts of Lymington on the main A337 to Christchurch in the New Forest district of Hampshire. The nearby, delightful Georgian town of Lymington with its world-renowned sailing centre, 3 marinas also offers a regular ferry service to Yarmouth on the Isle of Wight. According to the 2011 census its population of 9,385 boasts an above the national average concentration of high-net-worth local residents. The High Street has seen rapid change over the last few years, with an increasing presence of chain stores and coffee-shop franchises. Lymington has a wide range of shops and a large street market in the High Street and one of the New Forest producers' markets is held at the Masonic Hall once a month in the game season. There are three supermarkets in the town: Waitrose, Tesco, and Marks and Spencer Food Hall. There are several marine outfitters in the cobbled street leading down to the quay, an area popular with tourists all year round

BUSINESS:

Located within the New Forest National Park, Hills of Lymington are one of the few family-run Sports and Prestige Vehicle Specialists operating on the South Coast. Having been located at the same showroom for the past 11 years and with over 60 years’ experience in the motor trade, the business has established a reputation for stocking some of the finest examples available in the market today. All cars are certificated, HPI checked and go through an RAC Buy Sure pre-delivery inspection before hand-over. A minimum of 6 months RAC warranty is also provided for peace of mind. Where appropriate, all vehicles are supplied with full, 12 months’ MOT. A selection of eye-catching stock on display in the Showroom In addition to current stock, a source and supply service for new or used vehicles is also offered to provide customers with the exact make and model required - at a highly competitive rate. Flexible finance packages are arranged using a dedicated personal broker who offers a whole market search to secure clients the lowest rates available. In addition to these services a national or even world-wide delivery service is available via highly reputable and trusted contacts working alongside the business. The vendor wishes to focus more of his time on and invest more of his resources into a non-competing family business.

BUSINESS PREMISES:

(all sizes are approximate & should be considered 'nominal'.)

The 5,000 sq ft forecourt measures approximately 88 ft x 60 ft (27m x 18m). The purpose-built Showroom measures approx. 2,500 sq ft and divides into three principal areas measuring

1. 60 ft x 20 ft - 1,200 sq ft (18m x 6m - 108 sq m)

2. 48 ft x 20 ft - 960 sq ft (14m x 6m - 84 sq m)

3. 24 ft x 19 ft – 456 sq ft ( 7m x 6m – 42 sq m) plus

In addition there are two separate office areas:

Sales Manager’s office (located in the Showroom) measures:

10ft x 10ft - 100 sq ft (3.2msq – 10.2sq m)

Admin Office (mezzanine floor above the showroom) measures:

24 ft x 19 ft – 456 sq ft (7m x 6m – 42 sq m)

Over the past 11 years, the current operator of the site has invested in the region of £150,000 in refurbishing and improving the property to its current high standard. With a purpose-built, gleaming showroom, comfortable Customer Waiting Area and offices on both the ground and 1st floor, the business premises represent an exciting, turn-key opportunity for an experienced used car sales operator to populate the site with his own stock, take occupation and build on the proven track record established on this site over the past 11 years.

Note:

Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

PRIVATE ACCOMMODATION:

(all sizes are approximate & should be considered 'nominal'.)

There is no private accommodation included with this opportunity

OUTSIDE:

The 5,000 sq ft forecourt can accommodate up to 20 vehicles

TENURE:

The vendor owns the lease and is authorised by the Landlord to create a new sub-lease on favourable terms. The opening rent will be set at £40,000 per year to include business rates, premises insurance and all utilities.

TRADE:

Year         Turnover £m        Gross Profit £k           Operating Costs £k           Adj. Net Profit £k

2016             2.47                      325 (13%)                        197                                 126

2015             2.44                      354 (15%)                        184                                169

2014             2.85                      382 (13%)                         212                                169

2013             3.25                      2.98 (8%)                          186                                  83

Please note that all figures exclude VAT.

HOURS:

Monday to Sunday – Appointment Only

STAFF:

There will be no employed staff transferring on completion of the sale of the business.

GUIDE PRICE:

The vendor seeks £100,000 for the leasehold interest and business goodwill.

LEGAL FEES:

Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord’s legal costs on a 50/50 basis. If a buyer wishes to negotiate a ‘new’ lease, they will be responsible for all the landlord’s legal costs.

COMMENTS:

The vendor wishes to focus more of his time on and invest more of his resources into a non-competing family business. This has created an exciting, turn-key opportunity for an experienced used car sales operator to populate the site with his own stock, take  occupation with no additional ingoing costs and immediately build on the successful foundations laid down at this proven site by the vendor over the past 11 years. Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

Listing Details
Leasehold Price: £100,000
Tenure: Leasehold
Sector: Car Sales Businesses
Financials
Annual Net Profit: Available upon request
Key Features
  • Vacant/Empty Premises
  • With Car Park
  • Attractive Business
  • Established Business
  • New Lease
  • High Turnover
  • Prime Location
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