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#Business ID: 17575

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Established MOT Garage

Business Location: East London, London, England

Asking Price: £ 420,000 Revenue: not disclosed Cash Flow: not disclosed

Business Summary

Description :-

ORE are delighted to offer this very established MOT garage, vehicle servicing and repair business in the heart of East London.

The business is highly stocked and equipped with up to date machines. The current annual turnover is around £420,000 and benefits from a high level of repeat business.

Property Description :-

The main workshop is housed within two metal clad warehouses which total around 3,300sqft (311sqm) with an adjacent office unit which is used as a customer reception and management offices.

The property benefits from a large gated forecourt which can hold numerous cars, two large offices on the first floor, ground floor office space, ample storage area, spray booth, staff WC, kitchenette, reception and customer waiting area.

Business Description & Takings :-

The business is very well established, and as such, benefits from a highly loyal customer base. The databases are very well organized and will be transfer along with the business.

The business equipment includes 5 lifts including 1 MOT bay which is fully equipped, spray booth, air compressors, and stock and machines worth around £80,000. All equipment is included within this sale including any diagnostic machines and other specialist equipment.

ORE have been advised that the business is currently taking around £460,000 per annum.

We have been advised that the owner is retiring and hence is selling the business.

Opening Times & Staffing :-

The business is currently being run by the owner with 4 full time and 4 part-time staff.

Lease Terms & Tenure :-

This leasehold business benefits from a FRI lease with a term of 20 years with 2 years unexpired. The rent review is set at 4-yearly period.

The rent is currently £25,000 per annum and £14,000 rates. Interested parties are encouraged to verify the rates through their own inquiries.

Premium :-

The owner requires a premium of £325,000 for the leasehold interest, fixtures and fittings and goodwill.

Property Details

Property Type:

Lease

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