MOT Garage plus Investment Income in Essex For Sale

Prominent trading position, commercial area, Essex.

Turnover £ 1,250
Price £150,000

Features

Mot Site Plus Investment Income

RENTAL INCOME £73,200 p.a.
MOT licence for Cars, Vans & Motor Cycles & Taxi's

The vendor operates a MOT garage from the site with 2 MOT bays. The vendor has the head lease on 7 units but rents 6 out providing a rental income of £73,200 per annum.

Secure gated yard with office, 6 Brick built industrial units with roller shutter doors and ample parking, CCTV system (5 cameras, 1 monitor)

Unit 1 & 2 Mechanic Garage rental income £3,500 p.m.
Unit 3 Spray Booth + 2 preperations garages (Unit 4 & 5) rental income £2,000 p.m
Unit 6 Steel unit used for tyres fitting rental income £500 p.m.

Port-cabin Toilet with w.c. and wash hand basin, connect to the mains.

Turnover

WE ARE INFORMED by the owner the turnover currently averages £1,250 p.w. from MOTs only.

Tenure

WE HAVE BEEN INFORMED BY THE VENDOR that the premises are held on a SECURE RENEWABLE lease (private landlord) granted for 10 years in December 2023 with reviews every 5 years (next review 2028) at a current rent of £64,800 p.a.

(As will be appreciated with the rental income currently of £72,000 p.a. in respect of the self contained maisonette, there is in fact at the present time a profit rental of £7,200 p.a).

NIL Business Rates after full relief (Please contact local authority to confirm)

THE BUSINESS HAS BEEN IN THE SAME HANDS SINCE 2008, AND NOW OFFERED FOR SALE SOLELY DUE TO OWNERS ILL HEALTH

Price

TO INCLUDE THE SECURE RENEWABLE LEASE, GOODWILL, FIXTURES & FITTINGS £150,000 plus STOCK AT VALUATION
SUBSTANTIAL LOAN TO AN APPROVED APPLICANT.

Finance

Subject to status, you maybe able to borrow up to £ 75,000 (lease) to purchase this business, with a house or additional security you maybe able to borrow the full amount. Free Quote