Freehold MOT Garage With 3 Residential Flats – Plymouth

A rare opportunity to acquire Oakdens Garage, a long-established automotive business together with a substantial freehold mixed-use property, three residential flats and further development potential in Plymouth.

The garage has traded successfully for many years and has established an excellent local reputation as an independent vehicle servicing, repair and diagnostics specialist. The business is particularly well known for its expertise in BMW and Porsche vehicles, while servicing and repairing a wide range of other makes and models.

The business currently generates approximately £269,401 annual turnover and benefits from an established customer base, strong levels of repeat business and valuable goodwill built up over many years.

Services include vehicle servicing, mechanical repairs, diagnostics, engine-management fault finding and ABS diagnostics, providing an incoming operator with an established and fully functioning automotive business.

A particularly attractive feature of the opportunity is the freehold property, which includes three self-contained residential flats above the commercial premises, providing an additional recurring rental income stream.

The existing accommodation comprises:

• 1 x two-bedroom self-contained flat – £650 pcm
• 1 x one-bedroom self-contained flat – £650 pcm
• 1 x one-bedroom self-contained flat – £500 pcm

The flats currently produce approximately £21,600 per annum in rental income. Importantly, the current rents have not been increased for many years, potentially providing scope for future rental growth subject to the existing tenancies and applicable regulations.

The property also offers future development potential, including opportunities to further enhance or develop the residential element, subject to the necessary planning permissions and consents.

This combination of an established trading business, freehold commercial property, residential rental income and development potential makes Oakdens Garage particularly attractive to garage operators, automotive groups, owner-operators and mixed-use property investors.

Key Highlights

• £785,000 Freehold
• Established specialist automotive business
• Approximately £269,401 annual turnover
• Specialist reputation for BMW & Porsche
• Long-established customer base and goodwill
• Freehold commercial premises included
• Three self-contained residential flats
• Approximately £21,600 existing annual rental income
• Existing residential rents have not been increased for many years
• Multiple business and property income streams
• Further development potential, subject to planning
• Prominent Plymouth location
• Rare mixed-use freehold acquisition

Asking Price: £785,000 Freehold

Further financial, property and operational information is available to qualified purchasers following completion of the required confidentiality documentation.

IMPORTANT PURCHASER INFORMATION

The business and property are being marketed under a Sole Selling Agent Agreement. All prospective purchasers and viewing requests are subject to qualification and vetting, which may include proof of funds, identification and confidentiality documentation before detailed information is released or a viewing arranged.

Where a purchaser wishes to secure the opportunity and obtain a period of exclusivity, a reservation fee may apply, subject to the applicable reservation terms and conditions.