Commercial Property for sale

Wheal Honey - PL14

£249,950

Property Description

Commercial information

  • Business for sale

Key features

  • Excellent Name and quality standards
  • Excellent profitability relocation or short term lease
  • Full assets included, business ready to earn
  • Turnover excess 400k, EBITDA 80k

Full description

Description
An excellent opportunity to acquire Weldspray Engineering located at Menheniot in Cornwall.

Cornwall offers an excellent diversity of rolling countryside and stunning beaches making it a lifestyle choice of many people wanting a lifestyle change. Menheniot is a small town located off the A38 between Liskeard and Plymouth and offers splendid countryside views with the added bonus of being within a half hr drive to the coast.

Weldspray Engineering was established by the vendor in 1979 and is now currently located at the owners property. The business would need to ideally be relocated, however the vendor is prepared to offer up to a maximum 18 month lease for the right buyer while they establish themselves as the new owners before relocation.

The business offers a large diversity in specialist works including small fabrications to major steel building fabrication and is considered a medium sized business. With a current regular client base of 30 repeat clients and an overall active database of some 50 plus clients the workshop is exceptionally busy at times and regularly operates at 100% capacity.

Offering specialist welding inc MIG, TIG, Arc, Mixed Gasses, Titanium and Brazing along with a current workload totalling 85% of structural steel manufacture, the business may also be of interest to structural steel erectors who would like to diversify into manufacturing their own goods.

The majority of their work is obtained locally as no advertising is done, the vendors have the relaxed attitude of the work comes to them from their excellent reputation and lack of serious competition in the area. Working along side specialist structural engineers and architects ensures they are passed regular work with order books for flat out work running often at 2 months in advance.

At the heart of the business is the vendors son, who has great knowledge of the business application and organising the workshop. The son is more than happy to work for the new purchaser a

Sales
The available accounts will be shown to qualified interested parties upon request. A preview of the accounts are as follows

2016 2015
Turnover 396,825 407,850
Gross 102,096 118,783
Net 62,799 73,786
EBITDA 79,399 84,509



Accounts
A full asset list of major items included within the sale are held by head office and will be made available upon request to interested parties.
In brief some of the larger assets will include:

Welding equipment
Miller Syncroweld 350lx
Hobart 4000 Mig
Butters AMT 450 SD
BOC SMR 400
SIP 250 mig
Migatronic Pilot 1500hInverter TIG
Cebora 1356 inverter
Econocut Plasma Cutter
Several others not named here

Fabrication equipment
Meddings BS280 Bandsaw
Drop Saw with 300 Dia Blade
Ercolina ring roller
Geko 80 tonne Metal Worker
Radial Drill
8ft Edwards Sheet Metal Roller
3ft Edwards Folder
6ft Hand Folder
Hydraulic Press
Galic 5ft centre lathe
Many other smaller assets available on full list

Vehicular assets
Sign Written Nissan Cabstar Truck
Toyota Pick up Truck
Hyster 1.5 tonne fork lift truck

STOCK
The business holds at any one time approximately 25k of stock


Trading Hours
Monday to Friday 07h30 to 17h00
Saturday Overtime as required and pending Workload
Sunday Closed

All the staff appreciate that they work longer when busy and shorter when quiet. Although the hours above are standard the working times are quite flexible pending workload.


Staff
Part managed by the vendors son with the vendors only there for their own pleasure. Supported by a total of 4 full time staff. There is also a trainee who will soon be fully qualified.

Building External
The business operates from within the grounds of the owners home. A large building of some 3300 sq ft sits to the rear of the 5500 sq ft yard. The building is a steel constructed and is Asbestos clad (non toxic type) There is no asbestos inside the building and a Radon survey has also been completed.

The vendor owns the building but it is not included in the sale, the vendors preference is that the business be relocated.
However, the vendor is happy to allow a new purchaser to operate from the site for up to 18 months with a negotiated rental in the order of 15 to 20k annum. There are no business rates as they qualify for full Small Business Rate Relief


Building Internal
The internal s of the building consist or a small general office located underneath a storage mezzanine. The main production area covers nearly 3000 sq ft of floor space and again is sub divided offering a general work area, a machine shop area and a welding area.

The unit has a useable head height of some 15 feet with a ridge height in the centre of 25 feet. The unit is heated in the winter with an industrial oil heater. They yard has secure gates and an additional portakabin available by negotiation.


Residential
There is currently no residential accommodation included within the sale.

Tenure
We are advised that the sale will not include the freehold and that ideally the business will need relocation. As previously stated the vendor will offer a cross over period and lease the yard and building for a maximum of 18 months

We have been unable to check this information and advise prospective purchasers to consult their own solicitor for verification


Assets
A full asset list of major items included within the sale are held by head office and will be made available upon request to interested parties.
In brief some of the larger assets will include:

Welding equipment
Miller Syncroweld 350lx
Hobart 4000 Mig
Butters AMT 450 SD
BOC SMR 400
SIP 250 mig
Migatronic Pilot 1500hInverter TIG
Cebora 1356 inverter
Econocut Plasma Cutter
Several others not named here

Fabrication equipment
Meddings BS280 Bandsaw
Drop Saw with 300 Dia Blade
Ercolina ring roller
Geko 80 tonne Metal Worker
Radial Drill
8ft Edwards Sheet Metal Roller
3ft Edwards Folder
6ft Hand Folder
Hydraulic Press
Galic 5ft centre lathe
Many other smaller assets available on full list

Vehicular assets
Sign Written Nissan Cabstar Truck
Toyota Pick up Truck
Hyster 1.5 tonne fork lift truck

STOCK
The business holds at any one time approximately 25k of stock


Summary
An excellent opportunity to acquire a lifestyle business in a beautiful area, a business in a box ideal for a new starter with everything to walk in and earn. Ideal also for a synergy client. Little competition in the area means excellent potential. Early viewing is essential to avoid disappointment


Nearest stations

  • Menheniot (1.7 mi)
  • Liskeard (2.5 mi)
  • St. Keyne (3.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Tustin Court, Unit 1, First Floor, Port Way, Ashton-On-Ribble, Preston, PR2 2YQ

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Menheniot (1.7 mi)
  • Liskeard (2.5 mi)
  • St. Keyne (3.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

ALTIUS GROUP LIMITED, Kings

Tustin Court, Unit 1, First Floor, Port Way, Ashton-On-Ribble, Preston, PR2 2YQ

01772 399199 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

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