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Garage for sale

Abbey Wood, London, , SE2

£49,995

Property Description

Commercial information

  • Business for sale

Key features

  • Ref:B04291
  • Leasehold

Full description

Business
Hilton Smythe are delighted to offer to the market a much sought after garage repair business. Established by our client over 30 years ago and now offered for sale due to his wish to now retire.

The highly regarded garage offers the full repair and service of all car types. Our clients prepares on average 4 cars a day for full Mot’s carried out on a special relationship to a local garage in Belvedere.

Total car repairs total on average 10 per day. Repair pricing ranges from £70 per hour.

Currently run to suit, the business can easily be increased by developing a new website, social media presence, local leaflet drop and adding a further Mechanic.

The popularity of the area will undoubtedly result in much interest so early viewing will be essential.

Full handover offered.



Location
Croft Cars is located on a private lane behind Walton Road in South East London.

The repair garage is located on a small lane of other garage units located behind the parade of local shops and cafes.

The area is undergoing major redevelopment due to the multi-million pound investment in the nearby Abbey Wood Crossrail station due to open in October.

Investment includes 100’s of new homes within walking distance of the garage including a rise in the current housing stock values.

Our client attracts local customers and loyal customers upto 8 miles from the garage.

There is limited free parking and a large pay and display car park directly across.

Main bus routes into central London are located within 2 minutes.



Premises
External electric roller shutter (new)

New roof.

Main garage - new 4 tonne 2 x poster repair ramp, selection of repair tools. Garage can easily store and work on 2 x cars

Small office and storeroom.

Staff toilet.



Tenure
Our client advises a new 8 year Lease will be offered to any new buyer with lease terms to be agreed. The rent per month is £715 and per annum is £8,580

The business benefits from 0 rates payable



Hours
The business opens:-

Monday to Friday 8.30 am - 6.00 pm
Saturday 9.00 am - 3.00 pm
Sunday Closed



Staff
Run and managed by our client only, opportunity to add a further Mechanic.



Financial Profile
Our client advises a yearly turnover in 2018 of £154,000, Gross Profit of £64,772 and net profit of £34,272




Map & Street View

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