Commercial property for sale in London Road South, Lowestoft NR33

£525,000 (£245.67/sq. ft)
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Commercial property for sale 199 sq. m*

Property description

*Leasehold or Freehold- Business Sale* - Successful and well-located Executive Car Dealership in Suffolk.

Full Description

Investment summary:

1. Highly successful and profitable business available with fantastic local reputation.
2. The business has been offering high quality vehicles to their customers for over 40 years.
3. Selling due to retirement with all staff members keen to remain with the business.
4. Huge potential to grow the business and offer new products and services to its loyal existing and repeat customer base.
5. The company is fully fca regulated and compliant.
6. Leasehold only - £175,000 price including fixtures and fittings, with the opportunity to purchase existing stock at a valuation to be agreed. Annual rent is £24,000.
7. Freehold - £525,000 which includes the land, the goodwill of the business and fixtures and fittings, with the opportunity to purchase existing stock at a valuation to be agreed.

Overview:

A fantastic and unique opportunity has arisen to acquire 100% of the shares of a highly successful, well established used car dealership located in Suffolk.

Over the course of 40 + years, the business has continued to provide an extensive range of high quality cars and unrivalled customer service to the local community. Due to retirement, the current owners are looking to move the business on to someone with fresh ideas and the ambition to help drive the business forward for years to come.

Catering to a broad spectrum of customers, the business prides itself on consistently stocking a wide range of family, sports and prestige cars, representing a large array of manufacturers and price points from as low as £5,000 up to £30,000+.

If a particular make or model isn’t in stock, they will go out of their way to locate and source it for their customers, demonstrating the level of importance they place on keeping their customers happy at all times.

Whilst the business has been very successful since it was founded in 1980, there are still lots of opportunities to grow and offer products and services which aren’t currently being pushed.

This opportunity would suit someone with a strong background in the industry, whether that’s as an owner of a dealership or an ambitious branch manager looking to put their own stamp on the local industry.

As the dealership is still trading and serving its customers on a daily basis, this sale is confidential, however more details including full accounts information can be made available upon request.

The business:

The business is located in the middle of a busy town in Suffolk. It benefits from a high footfall, however a lot of its customers have been buying from the dealership for decades, so local reputation and word of mouth contributes to much of their revenue. This speaks volumes about the level of service they provide and will enable the new owner to come in and hit the ground running.

They advertise their vehicles on their own website as well as a wide range of different online platforms, however none of these channels have been pushed to their maximum, so there are opportunities to grow each of these channels and add more as time goes on.

The whole site is around 11,000 square feet and is able to stock in excess of 40 cars at any given time, 4 or 5 of which would be located in the showroom.

The internal floor space comes out at around 2100 square feet and consists of a good sized showroom, 2 private offices with windows looking out to the showroom and forecourt, a valeting bay, storage room, WC and large workshop. There is also another sales desk which isn’t being used, so this presents another opportunity to bring someone on board to increase revenue and drive sales.

In terms of additional services, there is definitely scope to grow the current offering. The large workshop is only used for work on the business’s own stock, so this could be an area which is grown into an additional and healthy revenue stream for the business.

The company is a Trusted Dealer with Autotrader. The company is fully fca regulated and compliant, and has existing contracts in place with many Finance Companies.

Finance is offered to customers but products such as third party warranties, gap insurance, paint and fabric protection, rust proofing, key protection etc are not pushed and could also contribute to a higher revenue for the business, and higher commission for those who are able to maximise it.

Leasing / pcp is not currently on offer, so someone with knowledge of this from their previous industry experience could implement this very quickly for qualifying cars.

We are able to provide full accounts information and more in depth sales data upon request, however the business has sold in excess of 250 vehicles each year for the last 3 years.

Location

This business is located in Suffolk, a picturesque county in England within East Anglia. One of the largest counties in the country, it shares its borders with Norfolk to the north, Essex to the south, Cambridgeshire to the west and the North Sea to the east. Suffolk encompasses one of the most ancient parts of England and has maintained its largely agricultural roots. Consequently it is proving a growing favourite with tourists who want to experience incredible beaches, traditional country living, and pastoral beauty all in the same place.

Viewing

Discreet sale, outside work hours 5.15pm in week

Rates

Available upon request

Legal Costs

Both parties will pay their own legal costs.

Property info

Floorplan(s): Floorplan 1

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* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Paul Hubbard Commercial Ltd, NR33 on +44 1502 392063 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Paul Hubbard Commercial Ltd, and do not constitute property particulars. Please contact Paul Hubbard Commercial Ltd 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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