Business Summary:
Texaco Garage with Spar Shop & Property Rental Income
Ref.AL159
Location Cotswolds
Asking Price £195,000
This is a fantastic opportunity to acquire a multi faceted business based around the highly successful Texaco franchise.
The business operates from a site on a main trunk road into one of the most beautiful and popular villages in the Cotswold’s. Not only does it benefit from the very significant number of tourists who visit every year but also from a thriving local community who it has been serving for over thirty five years.
The site is owned by a local family and leased to the present management team. There is a review due in 2011 but it is not anticipated that the present rent of £25,000 per annum will be significantly increased. This can be clarified as part of the sale process. The site offers a number of excellent commercial opportunities and revenue streams.
The garage forecourt has two islands carrying ten pumps and delivers over two million litres of fuel per annum. Fuel sales are supported by a fully licensed Spar shop that carries a broad range of everyday items plus some niche market products imported from South Africa. The shop alone generates around £600,000 of revenue.
Two years ago the business invested in a new Istobal car wash that has proved to be extremely popular. The premises also contain a three bed roomed flat that has recently been fully refurbished including a new kitchen, bathroom, windows and all carpets. It is presently rented out on a six month rolling basis for £595 per month. If a purchaser wished to live on site this would provide excellent living accommodation for a small family.
There is also a fully fitted thirty seat Indian restaurant that has two and a half years remaining on the present lease agreement. The annual fee is £10,500 per annum. To the side of the site is a Coffee Kiosk that is also rented out and provides a further income of £3600 per year.
A car park is situated to the rear of the site with capacity for five hundred cars. This does not form part of the business but by its nature provides considerable passing trade.
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| Year
Business was Established: 1975 |
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| Number of Employees:
1FT/10PT |
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| Facilities / Terms of Lease:
• Leasehold premises with an annual fee of £25,000. Review in 2011.
• Rental income from the restaurant is £10,500 per annum, with two and a half years to go on the present lease agreement
• Rental income from the three bedroom flat of £7140 per annum. Rolling rental.
• Rental income from Coffee Kiosk of £3600 per annum. Rolling agreement. |
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| Potential
Growth/Expansion:
N.A. |
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| Competition:
N.A. |
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| Owner
willing to train:
The owner is very keen to see this business continue to flourish and will be happy to provide a handover period to be agreed as part of the sales negotiations. |
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| Reason for selling:
N.A. |
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Seller Reference Number: AL159
BusinessMart.com Listing Number: 76522 |
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