Total of 18659 firms and businesses for sale today Thursday 16th May 2024
Sold. Company For Sale Containing Freehold Commercial Office Block
LISTING DETAILS
Firms For Sale ID:
13646
Vendor reference:
CR161
Vendor website:
BUSINESS DETAILS
Location:
Primary sector:
Secondary sector:
Asking price:
£300,000
Turnover / revenue:
£33,300
Net profit / cashflow:
£27,300
OTHER DETAILS
Reason for selling:
The vendor wishes to take a well earned retirement
Support and training:
The Vendor will offer all support and training needed to facilitate a smooth transfer of ownership.
Business is relocatable:
No
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
BUSINESS DESCRIPTION
Company for sale containing Freehold Commercial Office Block Property Investment Opportunity Low Stamp duty 11% Yield
Ref.CR161
Location Lincolnshire
Asking Price £ 300,000
This is a business that is well run and delivering excellent returns. This is an opportunity to purchase a substantial commercial property by way of a share sale. The company owns the freehold of a substantial office block. The properties currently contains 5 commercial units three of them secured on five year lease contracts and two on 15 year terms. One additional unit is currently unoccupied but negotiations with a prospective tenant are at an advanced stage. The property is currently delivering a net yield of c£27,300 and once fully occupied will deliver a net yield of c£33,400.
This would make an ideal investment for a commercial property investor or a Self Invested Personal Pension Scheme and which as a result of the corporate structure will be able to minimise stamp duty.
The business has succeeded through its highly flexible approach to signing up new tenants. New clients can start their agreement more or less immediately, depending on availability.
The concept of the business is to make life as easy as possible for its tenants. Simple, straightforward full repairing lease contracts are a big attraction as is the fact that the business does not charge a set up fee.
Aside from all of the other measures that the owners have taken to fill the property, the business also benefits from being part of a larger complex of buildings all of which attract tenants to the area. The complex was once an RAF facility with many of the buildings being quarters for the personnel; all have now been converted into various types of commercial letting property. The buildings are currently the only commercial properties within a large area of the county of Lincolnshire.
Expansion Potential
As mentioned a ground floor suite is yet to be let and would be ideal to convert to the new 15 year lease terms increasing the turnover and earning potential of the property. Discussions with a prospective tenant are at an advanced stage.