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Garage for sale

Avenue Road, Freshwater, Isle Of Wight, PO40

Leasehold £174,995
307 sq. m.

Property Description

Commercial information

  • Business for sale
  • 3,304 sq ft (307 sq m)

Key features

  • REF:13318

Full description

Tenure: Leasehold

Tennyson Garage is located in the large civil parish town of Freshwater, Isle of Wight.

The garage is situated on a busy high street in the centre of Freshwater, alongside other thriving businesses including an estate agents, supermarket, florist, restaurants, pubs and hairdressers

The town has constant public transport running through and the nearest bus stop is a short walk from the garage. There is also a car ferry link to the mainland in the nearby town of Yarmouth.

The town also boasts a Community Sports Leisure, Library, Health Centre and Schools.

The surrounding area is known for its natural beauty and attractions such as The Needles Lighthouse, Tennyson Downs, the historic town of Yarmouth and various sandy beaches.

Hilton Smythe are proud to present to the market Tennyson Garage.

Tennyson Garage is a well-known and respected business in Freshwater on the Isle of Wight. The garage is one of the islands oldest repair garages. Our client established Tennyson Garage in 1996 and has successfully ran the business since. The owner has now reluctantly decided to sell, due to the desire to take a well-deserved retirement.

The garage's business activities include MOT's, servicing and repairs on all car types. Tennyson Garage is currently turning over a figure of 283,000 as per 2016 accounts with a gross profit circa of 50%.

Although we feel this is a brilliant turnover there is scope for improvement on this already thriving business. This could be achieved by possibly hiring another mechanic which would increase appointment availability and could generate more customers and increase income. The business could expand to repairing other vehicles such as motorbikes and this again would widen the customer range.

We feel an early viewing on this business would be highly beneficial to avoid disappointment.

There is main street access to the double height garage with a separate shop unit included in the lease, this is currently being leased out to a separate business.

There is a rear carpark to the rear of the business which is capable for storage an additional 12 cars. There is a car park to the front of the business which can hold 6 cars.

Above the workshop is a mezzanine space that is fitted with staff toilets, a kitchen area, staff changing and storage. There is a second mezzanine space to the rear of the workshop that is currently being used for storage, but could be used as an office for car sales for instance as it can be accessed from the rear car park.

The workshop is completed with:
MOT Testing Bay and Testing Equipment
4x Poster Ramp
2x Poster Ramp
New Mobile Ramp
2x Air Jacks
4x Trolley Jacks
3x Transmission Jacks
7.5 Tonne Press
Air Con Machine
Tyre Changing Machine
Wheel Balancer
Engine Hoist
Mig Welder
Body Puller
2x Compressors
Pillar Drill
Bench Grinder
Various Diagnostic Equipment
1000lt Waste Oil Tank

We are advised that the business is Leasehold.
We are advised that the original lease length is 20 years and there are 10 years remaining as of 2016.
Rent: 21,000 per annum.

The business is open from:
Monday - Friday: 8:00am - 5:30pm
Saturday: 8:00am - 12:00pm
Sunday - Closed

The business is currently run by two partners and 2 full time mechanics.

The business reports an annual turnover of 283,000 as per 2016 accounts with a gross profit of 50%.

Map & Street View

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