Commercial property for sale in Aberdeen, Aberdeenshire AB25

£330,000
Commercial property for sale
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Property features

  • A well established embroidery company with a fantastic reputation and several bluechip clients
  • Established since 1974
  • Largest company of its kind in the UK
  • Large customer base

Property description

Reference - 41877

Description
Abstitch is a well respected embroidery and heat seal business, along with corporate gifts based in the centre of Aberdeen. The business boasts many blue chip companies, including Aberdeen Football Club, Johnsons Apparal, Shell, bp, Quintet and Wilsons to name but a few, and provides a logo embroidery and heat seal solution to its large database of 900+ customers to a range of clothing and protective wear.

The business has been placed on the market due to the current vendors impending retirement.

Situation
Abstitch is conveniently located in the centre of Aberdeen, less than two minutes drive from the busy Aberdeen harbour.

Aberdeen is Scotland's third most populous city, one of Scotland's 32 local government council areas and the United Kingdom's 29th most populous city, with an official population estimate of 220,420.

The Property
The current premises comprises of a factory, staff facilities, sales and accounts office and manager’s office. The building is access through a large shutter door for vehicles and machinery, with a pedestrian entrance located to the left of the shutter. The property is straight to street. Recently in 2018 the buisness has expanded their factory due to the increase in orders, therfore the production has increased, resulting in bigger sales. The vendro has also invested in new equipment in 2018, including new emroidery heads.

The Business
Abstitch was founded in 1974 as Studio 3D Enterprises by the current vendor in London, . The business relocated to Aberdeen in 1982, and due to family reasons became Abstitch Ltd in 1990.

The business currently trades from a leased industrial unit on Union Glen in the centre of Aberdeen. The nature of the business means that the location is not imperative to the success of the company.

Abstitch is the main UK distributor of Glenmuir and Sunderland clothing and offers a large range of corporate branding to its clients, including logo placement and corporate and golfing gifts.

The business currently employs 13 staff:

Sales manager
Sales administrator
Finance/ Accounts person
Production Director
2 Supervisors
7 Machinists

The business trades as a limited company with directors as follows:

Alison Leslie- Production Director 0% shareholder
Andrew Anderson- Managing Director 100% shareholder.

We are also advised that the business has 100+ capabilities.

Services
The property has mains water, drainage and electricity.

Trading Figures
We are advised that the turnover for 2019 was in excess of £600,000.

Tenure
We are advised that the property is held on a lease. The annual rent is £19,000 exclusive. There are no rent reviews.

The vendor has advised that the landlord would be keen to renew a lease with any new tenant.

Summary
Abstitch Ltd offers any potential buyer with a fantastic opportunity to purchase a well known and respected company, offering an excellent addition to any business, increasing both profits and market share within an extremely buoyant, yet competitive sector.

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For more information about this property, please contact
Kings Business Transfer, PR2 on +44 1772 913303 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Kings Business Transfer, and do not constitute property particulars. Please contact Kings Business Transfer for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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