Freehold MOT station & flat, Coastal Town, Essex

Location

The business is situated within a busy neighbourhood close to the seafront on a secondary shopping parade adjoining the main shopping district which forms part of the town centre. The shopping parade provides a good mix of independent and household name traders such as Vodaphone, Poundland and Argos which all generate considerable foot traffic to the immediate and surrounding areas. Other independent traders noted within the immediate area include a bakers, coffee shop, nail salon, seasonal gift store and a barbers. The site offers good customer parking of 7 spaces to the front.

Premises

The premises comprise a ground-floor lock-up light industrial unit. Internally, the premises measure approximately 3,978 sq. ft. (dimensions obtained from the VOA Office website) and are arranged as follows:

Office

Accommodating up to 5 seated customers, there is a reception desk and the office also benefits from spotlighting to the ceiling, tiled floors and half-tiled walls along with a KITCHEN/LAUNDRY ROOM and separate TOILETS.

Workshop

OPEN-PLAN WORKSHOP - equipped with a rolling road, 4 x 2 post ramps, 1 x ATL MOT bay, tyre fitting area, diagnostic stations and an extensive inventory of workshop equipment. MANAGER'S/OWNER'S ROOM/OFFICE, SEPARATE MOT OFFICE and a MEZZANINE with retail tyre storage space.



NOTE: The premises are very well presented and appear to be in a good condition.

3-Bedroom Self-Contained Flat

Accessed via a street-level door, an internal staircase leads you to an L-shaped landing/corridor currently arranged with bedroom 1 and bedroom 2 on the right-hand side. On the left-hand side is a shower room, family bathroom, kitchen and bedroom 3. Towards the end of the landing/corridor is the large open plan lounge/dining area. This is typically a larger than normal flat that was formerly a 4 bedroom dwelling.



NOTE: The residential accommodation has not been inspected by Gilbert & Rose.

Staff & Trading Hours

The vendor works full time and is assisted by 2 full-time MOT testers and 1 full-time apprentice. 8.30 am to 6.00 pm Monday to Friday. We are advised trading hours are unrestricted and our client used to open on Saturdays.

Turnover

Turnover on the latest set of accounts show £376,112 NET SALES with a HIGH GROSS PROFIT MARGIN OF 53% that yields ADJUSTED NET PROFITS OF AROUND £75,000. Full financial information will be made available to serious interested parties on or after a meeting.

Business Rates

The premises are subject to a rateable value of £14,000. We are further advised that business rates payable are £4,582 per annum and are currently under review for a reduction.

Legal Costs

Each party are to be responsible for their own legal costs incurred in the transaction.

Summary

Rarely does such a sizeable property with such a long established business that's been in the same hands for over 2 decades and located in the heart of a town centre become available so we anticipate serious enquiries only. Additionally the property benefits from an income generating residential dwelling above only adding to the healthy profits so an early inspection is encouraged by Gilbert & Rose.

Disclaimer

Whilst every care is taken to ensure that these particulars are correct, accuracy is no way guaranteed and none of the information supplied forms part of any contract. Acceptance of these particulars constitutes a contract to the effect that all negotiations for the business or property will be made through Gilbert & Rose otherwise the purchaser will be equally responsible with the vendor for damages equal to the amount of our commission.