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Garage for sale

Pound Lane, Exmouth, Devon, EX8

Offers in Region of £125,000

Property Description

Commercial information

  • Business for sale

Key features

  • Profitable and established car repairs centre, busy location close to the town centre
  • Annual turnover in excess of 225,500, adjusted profit in excess of 25,000 and growing
  • All pool vehicles, tools and equipment included in the sale
  • Ideal first time garage or suit skilled professional, viewing strongly recommended

Full description

Tenure: Leasehold

DESCRIPTION
A genuine opportunity to acquire a well established and well respected business located in Exmouth, a coastal town in South Devon. M&D Motors has been repairing cars in Exmouth for the past 20 years and has established a reputation for providing quality a service with extremely competitive prices.

In addition, the business has an excellent reputation for being a specialist Renault garage The current owner prides himself on the quality of his customer service, which is reflected in the level of loyal and returning customers.

The business is located on the Pound Lane Industrial estate and is only 10 minutes from the main M5, 20 minutes from Exeter and is located close to the town centre. Exmouth, with its beaches and estuary is a popular tourist holiday location in the summer and has its own share of affluent locals which support the garage all year round.

Located in a prime position and offering flexible lease terms, the business would be ideal for any qualified mechanic wanting their first established premises, along with an excellent reputation. The business would also suit qualified garages wanting to extend there own business. M&D Motors specialize in Renault vehicles, they also offer repairs to all other makes and small commercials. M&D Motors has an excellent reputation for service and is served well with a constant flow of work from several well known local companies.

The current turnover is 229,000 per annum with profitability in excess of 23,000. The business is run at the owners own pace and there is certainly scope to increase this.

M&D Motors offers two sets of two post ramps, a set of four post ramps and a whole host of standard and specialist tools included within the sale.

All aspects of repairs are undertaken and the garage boasts the very latest in diagnostic technology for the smooth diagnosis of repairs.

Currently, M&D Motors does not conduct MOT's and is not a registered test station. The scope exists for the new owners to diversify into this if required. There is further scope with the prices being charged, as the vendors have not increased the costs for the last few years.

The premises as a whole is approximately 1,820 sq ft and offers easy terms, as the landlord is prepared to issue a brand new lease. Lease terms are a very favourable 9,000 per annum.

As a whole, the premises is immaculately kept as the current owners pride themselves on its good name and impeccable reputation.

The business offers excellent scope for an individual wanting their first premises or a seasoned professional wanting a prime site. The vendors are only offering the business for sale due to retirement.

Demand is expected to be high, therefore an early viewing is a must to avoid disappointment.

ACCOUNTS
Current records and accounts can be inspected when viewing. Available accounts are to year end 2014 and are summarised below:

2014 - Sales 229,940 EBITDA 23,594
2013 - Sales 245,822 EBITDA 36,686

NOTE: 2014 figures were down due to a manager issue. The vendor has management figures for 2015 showing an expected figure back similar to 2013.

TRADING HOURS
Monday - Friday 08:30 - 13:00 then 14:00 - 17:30
Saturday 08:30 - 12:00
Sunday Closed

STAFF
Managed by the owners with full time staff and an apprentice, however the apprentice has just completed his apprenticeship and is now a full time member of staff. He won an award for Overall Apprentice Mechanic of the Year.

TRADING AREAS
The garage operates from a 1,820 sq ft industrial unit maintained to impeccable standards. The main layout is open plan with a main office, toilet and a small kitchen area. The rest is one level and boasts 3 sets of well spaced ramps and an additional small store room located above the kitchen area.

Externally, the lease includes confirmed official parking for 8 vehicles, however the vendor often squeezes 12 in these spaces. There is also ample on road parking close by.

The floor is regularly painted and it is hard to imagine it as an actual fully functional garage. The standard of cleanliness is very impressionable to their many clients.
There is also full 3 phase electricity installed within the premises.

Access is via a manually operated up and over roller shutter door, with access for vehicles over 16 feet.
Heating is in the form of space heaters when required.
The property is fully alarmed.

RESIDENTIAL ACCOMMODATION
There is no residential accommodation for owners/management available.

TENURE
A new FRI lease (subject to contract) will be granted. All of the lease terms are subject to negotiation.

SUMMARY
A stunning example of how a car repair shop should be run, being successful for over 20 years. With a large leasehold site and the scope to increase its services and hours, this will be attractive to a first time buyer as well as the seasoned garage owner. Interest is expected to be high, therefore an early viewing is essential to appreciate the opportunity on offer here.

ADDITIONAL INFORMATION
The business is owned by a limited company and so it is anticipated that this sale will be by way of a share sale of 100% of the issued capital of the company.


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