HORTICULTURAL & GARDEN MACHINERY SALES, SERVICE & REPAIRS

0 Sq Ft
£59,950
  • Ref: HW1505
  • Type: Garden Centre / Nursery, Motors, SERVICES
  • Availability: For Sale
  • County: Hampshire
  • Make Enquiry

Property Features

  • FAMILY-RUN BUSINESS EST. 1990
  • REVENUE SPLIT 60:40 RETAIL/COMMERCIAL
  • FULLY-EQUIPPED WORKSHOP
  • WELL-STOCKED SHOWROOM
  • ANNUAL SALES £533,991
  • ADJ. NET PROFITS c.£83,784
  • LEASEHOLD RENT £18K PER YEAR
  • RETIREMENT SALE

Property Summary

HORTICULTURAL & GARDEN MACHINERY SALES, HIRE, SERVICE & REPAIRS
WORKSHOP & ONSITE SERVICE & REPAIRS
NEW TOP BRAND & USED MACHINE SALES
GARDEN TOOLS & ACCESSORIES
YEAR END 31/01/21 REVENUE OF £484,824
IMPROVED GROSS PROFITS £198,824 (41%)

LOCATION:

Close to the ancient town of Romsey in Hampshire which has a population of around 17,000. The massive Norman Abbey dominates the town and the Market Place, dating from shortly after the Abbey, retains much of its original shape. With easy access from the M27 and M3, the town is ideally situated and has a number of tourist attractions in close proximity. These include Winchester and its Cathedral to the north-east; to the south is Southampton, with its deep-water port, sailing facilities, the new West Quay shopping centre is the largest on the South Coast; its City Art Gallery with over 3,500 works of art spanning six centuries; the world-famous Sir Harold Hillier Gardens (a Mecca for anyone interested in horticulture) and offering numerous events throughout the year, including open-air theatre, music & opera productions; Mottisfont with its National Collection of Roses; and, finally, Broadlands, home to the Mountbatten family, with royal and historic associations, is considered one of the finest examples of mid-Georgian architecture in the country and was landscaped by the great Capability Brown. There are a number of signposted walks in the surrounding countryside, including the Keble Way. Romsey is also on the edge of the New Forest. All of these, the attractive town and many other points of interest, make this an attractive business location.

BUSINESS:
Established in 1990 this profitable, family-run business operates from substantial two-storey premises in a pleasant, rural location. Conveniently close to the M27/M3 motorway network as well as the main urban centres of Southampton, Winchester, Romsey and Salisbury. In addition to retail customers delivering their machines for repair or service, the business maintains accounts with numerous commercial clients who enjoy on-site repairs. On average customers are quoted a 7-day turn-around peaking at 21 days during the high season for machines delivered to the premises. Revenues from sales, service, repairs are split 60% retail & 40% commercial customers.

New & Used Machinery Sales
An excellent range of leading manufacturers' machines are stocked and serviced including the following makes Husqvarna, Stihl, Efco, Kubota, Mountfield, Ransomes, Hayter, Honda, Allen Power, Briggs & Stratton, Toro, Lawn King, John Deere and Atco. There is usually a selection of pre-owned equipment that will have been repaired and serviced and available to customers to buy.

Machinery Hire
A wide range of garden machinery and landscaping tools are available for hire including ride on mowers, walk behind mowers, strimmers and brush cutters, pole saws, leaf blowers and vacuums, tillers (cultivators), scarafiers, and slitters. Landscaping tools for hire include a stone-burier, a paddock topper, an over-seeder and a seed bed preparation tool. A fast tow chipper, 240v electric log splitters, various petrol log splitters and a selection of tripod Arb ladders are also available.

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

Occupying a delightful rural location between Romsey and Winchester, the business operates from a modern 2-storey unit offering approximately 7,000 sq ft divided into a fully equipped 1,500 sq ft workshop plus 3,100 sq ft of internal ground floor storage. Stairs lead up to the first floor offices, customer service counter, a well-stocked showroom and the parts store totalling approximately 2,300sqft of useable space. All parts are bar-coded and the fully computerised stock management system ensures efficient, cost-effective parts ordering and handling.

BUSINESS PREMISES: (contd)
(all sizes are approximate & should be considered 'nominal'.)
Floor Description Area mÂ
Ground Floor Workshop 136.54
Ground Floor Area under supported floor 38.60
Ground Floor Store 76.44
Ground Floor Area under supported floor 179.09
First Floor Showroom 179.09
First Floor Internal storage 38.60
Sub total area per m 648.36
Note: Where items of equipment and appliances are mentioned, no warranty is given or implied as to their operational condition.

TENURE:
This is a leasehold opportunity with a 5 year lease in place which expires on 1 March 2024. The lease is a protected lease within the terms of the Landlord & Tenant Act 1954 and therefore renewal rights apply. The current rent payable is £18,000 per year. Please be aware that the landlord will require references to support your application as a tenant and satisfactory bank and trade references will be requested. In addition, the landlord may ask for a rent deposit equal to 3 or 6 months dependent upon quality of references and status of the buyer.

RATES:
The rateable value of the business premises for 2017/18 has been assessed as £16,250.
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 water and electricity services are connected to the property.

TRADE:
Accounts inspected by Adams & Co for the year ended 31 January 2021 show revenues of £484,824 with gross profits (GP) of £198,824 (41%) compared to 2020 revenues of £474,194 with GP of £210,368 (44%) an excellent performance despite the Govt's Lockdown measures. Where a business is registered for VAT, all figures quoted exclude VAT.

HOURS:
Monday to Friday 07:30 to 16:30
Saturday 10:00 to 14:00
Sunday Closed

STAFF:
Both Vendors work in the business supported by 2 full time and 1 part time workshop mechanics and 1 full time Sales and Parts Manager

STOCK:
The vendors will assist the buyer to finance the acquisition of their business by offering an interest-free Stock Purchase Plan with deferred payments over 24 months.

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.

COMMENTS:
The Vendors now wish to pursue a non-competing interest which has created an excellent opportunity for the Purchaser to build on the solid foundations laid down over the past 29 years of trading.
Financial information will be made available to seriously interested purchasers after they have formally viewed the business.