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LARGE FORMAT DIGITAL PRINT COMPANY NEAR PORTSMOUTH

Portsmouth, Hampshire
Leasehold Price:
£95,000
Find more details, or book a viewing:
Status
FOR SALE
Advert ID
225409
Reference
HW1521 / Rightbiz

Details

LOCATION:

The business is located in the Portsmouth area with easy access to the M27/M3/A3 corridor. Acknowledged as the most business-friendly council, Portsmouth City Council prides itself in doing everything in its power to ensure businesses, large and small, are assisted and helped. It has a Business Support Bank, providing free expert face-to-face advice.  The Solent Local Enterprise Partnership has secured significant public funding and delivers a business support programme through Solent Growth Hub. Over three million people travel to and from Portsmouth every year through the Continental ferry port making Portsmouth an ideal visitor destination. With easy access to the M27/M3/A3 corridor and only 70 minutes from London, Portsmouth is not only an increasingly sought-after location for distribution businesses but is also becoming a popular place to work and visit. It has many attractions, including the Naval Dockyard with The Mary Rose and HMS Victory and the new interactive naval attraction, Action Stations. The Harbour is one of only 12 UK landmark projects chosen to mark the new millennium and the £86m scheme has consolidated Portsmouth's position as an international waterfront city. Many new leisure and tourist attractions have been created, including 4 miles of promenades around the harbour and the Gun Wharf Quays development.

BUSINESS:

Back in 1986 the business established a solid reputation as one of the country's leading laser plot film bureaux serving the circuit board manufacturing industry and screen printers. Far sighted planning foresaw the eventual decline of this industry and prompted the move into colour graphic production in the early '90's with the purchase of one of the first light jet printers in the UK: this was superseded over time with the advance in quality of roll-fed inkjet printers. The recent addition of a state of the art flatbed UV printer has ensured the business has kept pace with the latest innovations in print technology.  The core business is exhibition & display production, which covers exhibition stands both portable and modular, building signage, vehicle graphics, banners and posters as well as stickers, vinyl graphics, digital wallpaper and a wide variety of other products. The business is one of the few in the marketplace producing exhibition stands from recycled material. The company's dedicated team of professional and creative designers, print & production staff not only assist clients to bring their ideas to life through their bespoke in-house service but also work hard to control quality, achieve agreed timescales and deliver value-for-money customer service year after year. This level of service is reflected in the loyalty of the customer base, with approximately 150 active customers located locally, nationally and globally. The business operates primarily as a B2B organisation serving clients across a broad range of industry sectors. The list of assets included in the sale were recently, independently and professionally valued at £65,000. The schedule of assets runs to 5 pages.

BUSINESS PREMISES:

(all sizes are approximate & should be considered 'nominal'.)

Ground Floor Workshop & Studio - 247 sq m/ 2,658 sq ft

First Floor Offices - 57 sq m / 615 sq ft

Mezzanine - 47 sq m/ 507 sq ft

Minimum Eaves Height In Workshop - 7.3 m/ 24 ft

The business occupies a light, spacious modern building situated only 4 minutes from the A27/M27 access junction. The building offers a suite of air-conditioned offices on the first floor comprising of a large reception/admin office with 2 private Managers offices leading off.  A mezzanine floor houses a well-equipped staff restroom area with microwave, fridge and freezer along with washing up facilities, cupboards/drawers, table and chairs. Also on the mezzanine is a generous area to display and demonstrate a selection of stands produced by the business, a real order winner when dealing with customers local enough to take advantage of the opportunity to see and feel the products before committing to purchase. The ground floor houses the design studio, a bright and comfortable space to create stunning artwork for clients, to check out and asses supplied artwork files and set-up and process the graphics ready to print. This area has plenty of scope to accommodate additional staff to cope with expansion. The print, production and finishing is carried out in a spacious, clean and well-ordered workspace with a good workflow arrangement in place. Printers, workbenches and finishing machines have dedicated areas and again there is room for the addition of extra equipment should the need arise.

Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

OUTSIDE:

To the outside the premises benefit from having 9 private parking spaces and also a large driveway/loading area in front of the full height roller shutter door. General access to the estate is protected overnight and at weekends by automatic security gates to prevent access to the unauthorised, approved access is by code number key-pad. The exterior and entrance lobby of the property are covered by a CCTV system. The estate management also operate a CCTV camera covering the estate gates for added security.

TENURE:

The vendors own the freehold to the property and will create a new lease on favourable terms for the buyer subject to status with an opening annual rent of £30,000.

BUSINESS RATES:

The rateable value of the business premises is £31,500 with rates of £1,260 payable per month; an annual total of £15,120 is payable in 2018/19.

NOTE:

This information has been obtained either from the current rate demand for the property, by telephone from the local authority or by reference to the VOA website. The amount payable is the standard rate for the Rateable Value shown. In some circumstances this may vary, and therefore it is recommended that potential buyers make their own enquiries through the local authority to check the applicable rateable value and whether the rates payable will be the figure quoted above.

SERVICES:                 

We understand from the vendor that mains electricity, gas, water and drainage services are connected to the property. There is a 3-Phase electric supply to the building. An Electrical Installation Condition and PAT reports are available for inspection. Gas Safety Certificate issued 16/07/18. Heating and air conditioning units serviced 16/07/18. 6-monthly fire alarms and emergency lights serviced on 24/07/18. Next service for fire extinguishers is due in January 2019.

 TRADE:

Accounts inspected by Adams & Co for the year ended 31 October 2017 show turnover of £315,206 with gross profits of £209,234 (66%).

Please note that if a business is VAT registered, all figures exclude VAT.

LEGAL FEES:

Vendors and Buyers each to meet their own legal costs, but if a lease is to be assigned from the vendor to the buyer they will also be expected to share the landlord's legal costs on a 50/50 basis. If a buyer wishes to negotiate a 'new' lease, they will be responsible for all the landlord's legal costs.

HOURS: 

Monday            to Friday           08:30 to 17:00  

Saturday & Sunday       Closed

STAFF:

The two vendors currently work part-time and fulfil the Finance and Sales director roles within the company. Day-to-day running of the business is carried out by the 4 staff members who deal with incoming sales enquiries, quoting, customer services, admin, stock control and ordering, production and despatch. Two of the key staff have a long employment history with the company, the other two staff came into the business as apprentices and were taken on as full time employees at the completion of their apprenticeships. Management accounting and payroll administration along with some higher level credit control are carried out by the Finance Director. The Sales Director role covers all marketing matters and dealing with bespoke client requirements.

LOCAL AUTHORITY:

Portsmouth City Council - Tel. no. 023 9283 4352

COMMENTS:

The husband and wife vendors wish to retire; and have actively begun this process by reducing their working hours within the business, creating an exciting opportunity for a new owner to build on the solid foundation laid down during their 14 years of ownership. At present the business is operating at approximately 50-60% of its capacity using existing staff & equipment, a relatively modest investment in a sound marketing strategy could easily realise a significant growth without any need for higher overheads. The employment of additional production staff working a shift rota would make possible further substantial growth in productivity before any extra capital investment was required. The vendors acknowledge that a lack of any substantive marketing is at present holding back growth of the business, and this is where a prospective purchaser could add real value with minimal outlay. At present there is no active social media presence for the business and it does not advertise in any trade publications.

Financial information will be made available to seriously interested purchasers after they have formally viewed the business.

Listing Details
Leasehold Price: £95,000
Tenure: Leasehold
Sector: Printing Businesses
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The data showed regarding this advert 'LARGE FORMAT DIGITAL PRINT COMPANY NEAR PORTSMOUTH - HW1521 / Rightbiz' comprises as a business advertisement. Rightbiz Ltd makes no warranty as to the accuracy or to the completeness of the advertisement or any linked or any associated information provided. In no event shall Rightbiz Ltd be liable for any damages or loss whatsoever including special, indirect, consequential, incidental or punitive damages for loss of profits and revenue, arising out of or connected with this website or to the use, reliance upon or performance of any information contained in or accessed from this website.