Property for saleBrook Road, Brook Road Industrial Estate, Rayleigh, Essex, SS6
- Long Established Indoor Karting Arena
- Approx 21,000 Sq.Ft.
- Adjacent A127 (London To Southend)
- In Same Family Hands For 22 Years
- Parking For 38
- Substantial Turnover & Profits
Rayleigh Karting was established in 1992, and provides the ultimate indoor karting experience. Operating from substantial detached premises of over 21,000 sq.ft. plus parking for 38. Complimentary facilities include: Licenced 80 cover hospitality suite, function room & Bar (1,126 sq.ft.), Cafe, changing/shower rooms and briefing room plus ancillary. Offering a variety of karting packages with or without catering. Featured Formula 1, 2 & 3 Grand Prix race meetings as well as endurance and sprint race meetings. Various hospitality packages are also available, including those for birthday and stag parties, team building events and corporate entertaining as well as daily 'Arrive & Drive' sessions for adults and children. For more information, visit www.essexkarting.co.uk
Method Of Sale
The business, its assets and the freehold of the property are available by way of a share transfer, with borrowings of £200,000 (reducing by £5,000 monthly). Alternatively, the business, its assets and a leasehold interest in the property, without the borrowings. The purchaser, in either case, shall be obliged to continue the employment of the staff (excluding the Directors) under the TUPE regulations.
The business is being offered for sale to include a substantial inventory of fixtures and fittings including all karts and liveried van.
Each party is to be responsible for their own legal fees.
This brick property and land sit on a plot of approx 1.1 acres. The property comprises a detached building in a total of 21,343 sq.ft. The vast majority of this space is laid out to the main circuit, the balance being a parking bay, mechanical bay and viewing area around the perimeter of the track. In addition, a further 9,500 sq.ft. of external/covered track. Also at ground floor are: Reception area, Office, Cafe with adjoining kitchen, suit room, male and female WC's, washing/laundry room, Ladies & Gents changing rooms with WC's and showers, drivers briefing room and staff room with WC's. Elevated control room above the Office. The circuit includes a covered area toward the rear offering a further 9,500 sq.ft. of track with exit and entry points via roller shutters. 1st floor: Function room/Bar 1,130 sq.ft. Kitchen, Office and store. The front elevation provides customer parking space for 38 vehicles.
Very close to Rayleigh Weir on the Brook Road Industrial estate, being 15 minutes drive from J29 of the M25 and just off the A127 (London-Southend arterial). Rayleigh is a substantial market town and civil parish in the District of Rochford, located between Chelmsford and Southend-on-Sea. It lies 32 miles to the east of central London and has a population of over 95,000.
The accounts of the business for the year ended 30th June 2015 show sales of £578,857, a gross profit of £518,559 and an operating profit of £232,537.
The business and its assets are being offered for sale by way of share transfer, and therefore the new shareholders will be obliged to continue the employment of all staff (excluding the Directors) under the TUPE regulations. Staff costs for the 2014 year were £171,964 including NI and pension contributions.
The 2010 Rateing valuation describes the property as Indoor Karting Centre & Premises, with a value of £92,500. This results in a liability for 2014/2015 of £45,602.
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