Estate Agents Sales & Lettings For Quick Sale In Ealing, West London | | Ealing London | | RUNNING ESTATE AGENCY, EALING W5 WEST LONDON RESIDENTIAL SALES AND LETTINGS, ESTABLISHED FOR OVER 16 YEARS. Strong and loyal portfolio of 133 current rental properties with 369 landlords on books. Priced for quick sale due owner's health. Lease to let or rent Estate Agents Sales & Lettings For Quick Sale In Ealing, West London is located in London. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 72634
ADVERT IMPRESSIONS : 10,636 TIME(S) | | | | BUSINESS SECTOR: | Services | | TRADE TYPE: | Estate Agents | | SALE: | Private Sale | ASKING PRICE: | £95000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | Location
• Traditional shop premises A1 / A2. Large shop front approx 60sq feet floor space
• Rear garage and private car park for 3 cars in addition to free public parking
• Prominent, central location in densely populated residential area. • Excellent mix of low and high priced rental and sale properties. • Easy access to public transport, including Central Line and Piccadilly line tubes. • Close to restaurants and shops
HISTORY
•Established since 1995 as a family business. •Mutually attractive to independent or multi office agents
•Strong Client base of landlords and tenants carefully nurtured over many years
•Steady instructions for new properties for sale
•An excellent reputation for service developed within the area. • No competition for 2 miles
REASON FOR SALE
• Owner's health
SERVICES
•Letting of all types of residential properties from 1 up to 5 bedrooms, but typically two beds flats and 3 beds houses with typical monthly average rental of £1,000 to £1,500
•Properties predominantly within 5 mile radius of office location
•Full letting & property management service, offered to tenants and landlords as required
•Loyal team of sub-contractors for property maintenance work. * Complete property sales service to steadily increasing portfolio
* Additional income sources from corgi / epc out sourced contractors. CUSTOMERS
•Loyal base of Landlords, including few overseas landlords. Tenants are mainly working professional class living in or re-locating to the area
•Typically tenants are financially independent with extremely limited portfolio of DSS
•Approximately 100 properties under current let including over 50 under full management
•Customer base well spread with largest landlord having 9 properties but the majority having 1 or 2
•All properties let under signed agency contract with landlords, including renewals at 6 or 12 month terms
STAFF
• Vendor and partner taking turns working within the business
• 3 full time 5 days per week
• 2 part time Saturday staff AM
TRADING HOURS
• Monday to Friday 9 AM to 6 PM
• Saturday 10 AM to 3 PM
Sundays Closed
FINANCIALS
Turnover (Fee Income)
2011 £130,000 (estimated - accounts due Dec'2012)
2010 £110,000
2009 £105,000
• Typical rental fee 8% to 10% of annual rental
• Typical property management fee 3% to 5% of monthly rental
* Typical property sales fee 1% to 1. 5% of sale price
* Typical Let Only fee income 50% of turnover
* Typical Property Management fee income 20% of turnover
* Typical Tenancy renewal fee income and tenant's fee income 20% of turnover
* Typical Sales fee income 10% of turnover. OVERHEADS
Staff £45,000 pa
Rent £14,500 pa
Rates £4,500
Heat / Light / £2,500
Others 25,000 (advertising / telephone / administrative / accountants etc)
PREMISES
• A ground floor lock up retail shop, prominently located close to public transport and short distance to the Ealing Broadway town centre, occupying a position on a main thoroughfare surrounded by pleasant residential streets
• Large window display
• Open plan office area
• Customer seating
• Separate rear office
• WC
• Kitchenette
• Garage & Private car park for 3 cars
STRENGTHS
• Mature and stable base of landlords and tenants
• Densely populated sought after urban location
• Regular income from existing rental portfolio of over 80 properties
• Established and respected presence within the town
• Steady increase seen in properties for sale during last 8 months
• Strong On-line presence with a well established company website
• Demand for similar lock up shop in excess of 40K goodwill. POTENTIAL
• Cost savings for working partners could be considerable with many opportunities to reduce costs
• Introduction of commercial rentals arm and financial services
• Focus on additional business development work to generate additional income streams
• Introduction of in-house property maintenance service
• Late opening hours including Sundays
• Rental property portfolio within the immediate surrounding is extensive. Potential of increasing business by expanding area of service further than 5 miles radius
• Utilising lock up rear garage to full potential
TENURE
• Leasehold £14,000 per annum
• 7 year lease from January 2012 with rent review / break clause in 2 years
VIEWINGS
• A non disclosure agreement will have to be signed and returned prior to any further information and viewing. DISCLAIMER: Viewing is essential to fully appreciate this business and strictly by appointment only These details are indicative only and do not constitute part of an offer or contract. Business is offered subject to being sold, let or withdrawn without notice at any time and without liability for any expenses incurred by applicants. All statements and descriptions are made without responsibility or warranty by business owner or lessors. Intending purchasers must check for themselves (Misrepresentation Act 1967). . . | | | | | | FOR SALE | | | | | REFERENCE: | 72634 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
