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Garage for sale

Elmhurst Business Park, Elmhurst Road, Gosport, Hampshire, PO12

Sold STC £89,995

Property Description

Commercial information

  • Business for sale

Key features

  • REF: 13665 I

Full description

Tenure: Leasehold

Hilton Smythe welcomes to the market Newtown Motor Engineers. The garage was originally established in the 1970's and was taken over by our client in 2007. The business has been well-run boasting an enviable reputation within this location. The owner is now looking to sell the garage, due to the desire to focus on other business interests.

The business runs as a repairs and MOT garage. 60% of the work carried out is on modern and new vehicles, the other 40% is classic car work. The garage is a go to place in Gosport for its work on classic vehicles. The garage offers a variety of services this includes MOT's for class 3 and 4 vehicles.

Newtown Motor Engineers generated a turnover of circa 126,000 as of the 2016 accounts, with a gross profit of 63%. This is a healthy turnover; however, we feel there is scope to increase this figure. The purchaser could look into offering a recovery service and courtesy cars. Arranging contracts with local taxi firms should also be something the buyer considers. Repeat trade from contracts is a great way to boost turnover.

The business is well-known in this location and our client has felt no need to advertise the business. With a leaflet drop or online advertising on social media sites, there could be an increase in custom. Social media is a cost-effective way to market a business.

Newtown Motor Engineers boasts a great premise that's perfect for the trade. The sale includes a large forecourt area which would be ideal for car sales. Also included is a separate lock-up garage, this has potential for further use. This garage would be great for the introduction of motorcycle repairs, expanding customer base.

MOT, ramp, compressor, and heavy plant equipment is included in the sale. This is a fantastic opportunity for a bolt-on or first time purchase. Hilton Smythe highly advise early viewing to take in the full potential of the trade.

Newtown Motor Engineers is located in Gosport, Hampshire.

The garage is situated on a privately owned industrial estate. This is surrounded by a large residential housing estate; from which the business derives much of its trade. The garage is set in a great location amongst several complimentary businesses.

Gosport is a popular town on the south coast of Hampshire. The town is well-known for its naval heritage and water sports with its own harbour facing Portsmouth; a great location that attracts thousands of tourists each year. In 2015 Gosport had a population of circa 84,700.

The housing estate is just minutes away from the main road in the town, the A32 is also close by. This runs from the centre of Gosport and into Fareham which is a 20-minute drive away. As well as great connections, the area also benefits from generous public transport links. There are bus stops within walking distance and the closest train station is in Fareham.

Newtown Motor Engineers boasts a large detached building. The main garage is well-signed and has ample parking around. There are two garage doors that lead into the garage, one of which is a large ceiling height.

The main garage includes a work area for up to 5 cars. This has an MOT bay with test analyser, tyre changing machine, balancer, spin compressor, 3 ton two poster ramp, beam jacks and hand tools. In the garage is an office space for staff and reception.

There is a separate secure garage, this is currently used to store up to two cars, but could be used as an additional repair area or even for motorcycle repairs.

Outside front yard can easily hold 6 cars and still allows full garage access.

We are advised the business is being sold as a Leasehold opportunity.

Original lease length: 10 years.
Remaining lease length: 3 years as of 2017.
Rent: 8,225 per annum.

A new 10 year lease will be available to the purchaser.

The business opening hours: -

Monday - Friday: 8am - 5pm
Saturday: 8am - 12pm
Sunday: Closed

The business is run and managed by our client.

Newtown Motor Engineers generated a turnover of circa 126,000 as of the 2016 accounts, with a gross profit of 63%.

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