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Garage for sale

Oxford Road, CV23

£34,950
109 sq. m.

Property Description

Commercial information

  • Business for sale
  • 1,173 sq ft (109 sq m)

Key features

  • LEASEHOLD
  • Ref 14512i

Full description

Tenure: Leasehold

LOCATION
Princethorpe is a village and civil parish in the Rugby district of Warwickshire, it is situated roughly halfway between the towns of Rugby and Leamington Spa and is at a crossroads between the A423, B4453 and B4455.

John Neal Motor Services and Repairs is ideally situated on a small but vibrant industrial estate in a main road position on Oxford Road and as such benefits from high levels of passing traffic. The business is well signed from the main road. There is generous free parking immediately outside the premises.

BUSINESS
John Neal Motor Services and Repairs was founded by the current owner in 1984 and is now reluctantly being sold only so that the vendor can enjoy a well-earned retirement.

The business services and repairs all makes of cars and offers diagnostics, tyres and exhausts and MOT preparation work and repairs. Other services include brake repairs, clutch replacement, battery replacement, tyre puncture repair, wheel alignment, exhaust system repair, engine repairs and kit car restoration. The business prides itself on its high level of service and competitive pricing for repairs.

The business sits alongside other complimentary businesses such as companies offering steel fabrication, shop fitting, double glazing, gate manufacturing, exhibition stands etc.

The business is well known and respected in the area and has many regular customers most of whom are known by the owner on a first name basis.

Scope to Improve
1. Website to advertise the services offered and perhaps an online booking system
2. Advertising and marketing campaign, most of the business currently comes from regular customers and word of mouth referrals
3. Maximise the use of social media particularly Facebook and Twitter
4. Offer a collection and delivery service
5. Employ a further mechanic to allow more work to be undertaken.
6. Consider offering discounts to students, NHS staff and Police, council employees etc.
7. Improve the signage from the main road perhaps with the use of portable A boards.
8. Extend the opening hours
9. Offer a courtesy car facility.

PREMISES & EQUIPMENT
The businesses in the estate are arranged around a large central forecourt/ car park and John Neal Motor Services and Repairs occupies a nice sized, corner positioned terrace unit. Circa 109sq m.

Workshop
Long workshop presented and maintained to a high standard, roller shutter door to allow the ingress of vehicles with a further door to side for pedestrian entrance. High roof with newly installed LED lighting supplemented with fluorescent lighting. Painted concrete floor, 2 poster ramp, parts washer, long bench with grinder, further smaller bench with vice, freestanding Dexion shelving unit and wall mounted shelving unit.

The sale includes all hand tools along with other specialised equipment such as pullers etc and welding equipment.

A particular feature of this business is that the electric supply is metered and payment is by a coin meter which the current vendor says only costs him a few pound a week to run.

The ramp is powered by a three phase electrical supply which is provided at no cost by the landlord.
TENURE
We are advised leasehold with the current lease being arranged on a rolling monthly basis.

The rent is a very reasonable 5820 per annum and we are further advised that the landlord would be happy to offer a mutually acceptable lease to a new owner.

There are no business rates currently payable.

HOURS
Monday to Friday 7.30am-5.00pm
Closed at Weekends.

STAFF
The business is owner managed and run.

FINANCIAL PROFILE
The business reported a turnover in 2016 of approximately 43,000 with a gross profit of roughly 28,000 and a net profit of circa 17,000.

REASONS TO BUY
1. A well established business with an enviable reputation and many existing customers.
2. Ideal owner managed business.
3. Low running costs with inexpensive rent, no business rates and cheap electricity.
4. Includes all assets including hand tools making this a Turn Key business.
5. A real opportunity to increase turnover significantly, currently running at a pace to suit our client.
6. Current owner happy to offer a handover to ensure the continued success.
7. Little or no competition locally.
8. Great little business for an inexperienced new owner.


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