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Cardiff-Based Established Property Letting Agency with Growth Potential For Sale

 Undisclosed

CONFIDENTIAL SALE

  • Status

    FOR SALE

  • Date Submitted:

    22/01/24

  • Advert ID

    605438

  • Reference

    B07756 / Rightbiz

  • Call Agent:

    Registered members »

  • Leasehold: £525,000
  • Turnover: £311,528 (£5,991 Per week)
  • Net Profit: £51,282 (17% Profit margin)

Business Details

Well Established Property Letting Agency For Sale

Business
Please quote reference B07756

CoGoGo are delighted to welcome to the market a highly rated property letting agency in Cardiff.

The business was first established by our client over a decade ago, building up an excellent reputation and regular customer base. As seen by the online ratings and reviews, the agency is popular with the area. 

It has now come to the open market due to our clients desire to move onto other business interests. 

This is a Cardiff based company that is led by excellent customer service. They currently look after around 481 student and professional rooms and over 40 residential lets. They also have a large prominent office in the student area of Cardiff.

Their knowledgeable, down-to-earth team is always ready to answer any queries. Our clients business offers a 24/7 telephone support to all tenants in case of emergencies and prospective tenants are offered to be driven around available properties inside and, where required, outside of office hours.

They also have a intuitive, streamlined, user friendly website designed and built with clients in mind. They use an innovative property software management system to manage all houses, advertising, tenancies, contracts and accounts, and their documents are e-signed and stored digitally.

All of their maintenance is reported online and they use an online maintenance management system that is specifically for the lettings industry integrated within the website.

Key selling points -

  • Long established business
  • Great reputation
  • They're forward thinking and innovative with streamlined processes
  • They have a fantastic team, the majority of the team has been with them a long time and have a wealth of knowledge and experience.
  • Customer service is paramount to the business and so all of the team are trained to deal with all enquiries when they come in.
  • A trusted relationship with all of their landlords. Some of their Landlords have been with them since the beginning. They work with landlords to ensure their properties are kept to a certain standard and to keep developing their portfolios.
  • They try to get every team member to see every property so they're knowledgeable about their portfolio and can sell or maintain houses as required.
Scope for further growth -

  • Huge scope to increase into let only business and professional sector
  • Increase advertising and marketing. All of their work is repeat or word of mouth.
  • Expand the catchment area. All the properties are within the area, so covering all over Cardiff or across South Wales


Location
This Letting Agency is located in Cardiff.



Premises
Large ground floor office space, with an office at the front and rear of the premises. 

The office has been rearranged many times over the years but has the ability to fit 8 desks comfortably with a communal table out the back for lunch’s/meetings.

They have a WC, kitchenette and storage space.



Tenure
We are advised that the business is being sold on a Leasehold basis, currently on a rolling lease agreement.



Hours
The current trading hours are -

9:00am - 5:00pm everyday

They're open late for viewings and even on weekends and will always try to help and work around clients. 



Staff
We are advised that the business has 5 members of staff. 



Financial Profile
We are advised as per the 2022 accounts, the business generated a turnover in the region of £312,000, with a forecasted turnover for 2023 in the region of £323,000. Further financials can be made available upon request. 



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Listing Statistics

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Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

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Stay Safe

Do not pay any deposit to private sellers upfront. If you are looking to purchase a business, we advise that any deposits or transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Don't share confidential information with any private sellers, including your home address, account passwords, bank accounts and credit card information.

Stay Safe

The vast majority of these scams involve the transfer of substantial sums of money. We advise all transactions made are through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Send a test amount before you consider handing over a large number of funds. Maybe even try transferring £1, and then speaking to your solicitor to confirm receipt.

Stay Safe

Do not disclose proof of funds directly to the sellers. If the sellers request you to show proof of funds, we advise that it is done through a solicitor to prevent fraudulent activities from occuring.

Stay Safe

Buying a business is not covered by consumer rights legislation. It is your responsibility to acquire a business that holds up in quality and agreement.

Stay Safe

Fraudsters will typically use false news in an attempt to get you to act quickly. For example, 'Your account has been disabled. Reset your password now.'.

Stay Safe

Review the performance of a business to make appropriate financial projections. Some businesses are dormant or not trading, so it is essential to check their short and long-term potential.

Stay Safe

Legitimate emails from Rightbiz will be with the domain @rightbiz.co.uk. However, emails from [email protected], [email protected] or [email protected] are not affiliated with Rightbiz.

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The data showed regarding this advert 'Well Established Property Letting Agency For Sale - B07756 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.