Business for Sale in Girton, Cambridgeshire - FREEHOLD SELF-SERVICE STORAGE FACILITY - GIRTON, CAMBRIDGE - Freehold: £4,500,000 (Offers in the region of)

Key Information

Ref
M35079E
Type
Service Businesses: Removals/storage
Location
England: Cambridgeshire
Tenure
Freehold
Status
For Sale
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  • Excellent Business Opportunity
  • 281 Purpose Built Letting Units
  • All Single Storey
  • Potential for Additional Units
  • Highly In-Demand Sector
  • Freehold Site in Prime Location
  • Very High Occupancy Levels
  • Buildings in ‘As New’ Condition
  • Low Overheads
  • Net Profit Margin of c. 65%

PARTICULARS
We are pleased to be able to present to the market an excellent opportunity to acquire this highly profitable, yet easily operated business together with the prime freehold site that it operates from situated in the sought after village of Girton which adjoins the city of Cambridge.

A purpose built, fully insulated self-service storage facility which has been constructed and maintained to a very high standard and which enjoys exceptional occupancy levels. With little significant investment expected to be needed in the site for the foreseeable future, and with very low operating costs, the high profit margins that the business has been achieving should continue onwards.

In addition, if so desired, there would appear to be the option to provide an approximate 20 no. extra units to the front of the site, subject to moving the access gates forward, and of course subject to any consents that may be required.

THE BUSINESS ITSELF
The site has provided storage facilities for around 25 years however in more recent times the vendors have brought the site up to it’s current high standard by constructing the new units that are now found here and having extended the offering that is available.

Current rental income is in the region of £450k per year with occupancy levels running close to 99% across the previous year. It is easy to understand why this is with the ease of access both in terms of the site location and the units all being at ground level, as well the excellent condition of them.

The operating overheads are low and with very few risk elements associated to this type of business. Running the business is not staff/labour intensive and the day to day operation is very straight forward. This therefore can provide a very easy hands off investment but similarly could provide an ideal lifestyle business for an owner operator.

The business operates the Space Manager software programme to manage their rentals and by utilising it’s potential they are able to ensure that no long term rent debts are built up particularly now that most clients make payment by way of standing order or direct debit.

ACCOMMODATION
ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The business provides a wide selection of unit sizes for hire ranging from a personal locker and small 40/50 sqft units up to 250 sqft in size with some additional larger 1000 sqft units also on site.

The main range of units are steel frame construction with composite boards and are insulated to ensure stored items are kept dry and protected. Key coded access is provided to communal internal areas whilst CCTV and lighting cover the whole of the site. A concrete road through the centre of the site and concrete pads at all loading points means that lorry and van access for unloading is provided. All of this is found behind the electrically operated front (vehicular and pedestrian) security gates which each tenant has a key fob for giving them entry to their unit between 8:00 am to 8:00 pm. To the front of these gates is a good size parking area for public visitors as well as a detached brick built office providing reception, office and welfare facilities.

We understand that there is an option to acquire the large neighbouring 6 bed bungalow which we are advised could potentially be split into 2 residential units. This could be ideal accommodation for an owner operator or to offer to a live in manager for the site. This would be available by way of separate negotiation.

FURTHER INFORMATION

OUR REFERENCE
M35079E.

OPENING HOURS
The electric, fob controlled, gated entrance can be accessed from 8:00 am to 8:00 pm.

TENURE
Freehold - the site extends to approximately 2.5 acres and is situated in a prime location just off of the A14 and M11 and only a short distance into Cambridge City Centre.

RATES PAYABLE
£64,732.35 for the 21/22 financial period.

This information has been provided to us by the vendor and any interested party is advised to enquire of the local authority to check the position with regards to business rates that will apply to a new owner.

PRICE
Offers are invited in the region of £4,500,000.

To include the goodwill of the business, fixtures, fittings and equipment. Stock is payable in addition at valuation on completion. It is expected that the sale will be by way of a transfer of the shares in the vendors existing company that holds the freehold property and operates the business.

VIEWING
Strictly by appointment only, please call our Norwich Office on (01603) 662 662 to make an appointment.

FINANCE
Finance may be available to suitable purchasers.

BUSINESS TO SELL?
Let us know as soon as possible! Just ask for a FREE NO OBLIGATION VALUATION and one of our valuers will carry out a detailed marketing appraisal of your business at a time of your choice.

PREMIER MARKETING
We take care to present our businesses to a standard like no other. Offering quality property particulars as well as detailed information on all of the online portals and our own website, make your business stand out from the crowd - call us today!

UNHAPPY?
Do you feel you are receiving the level of service promised by your agents? If not, we would be happy to carry out a FREE no obligation marketing appraisal of your business.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.

2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.

3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.

4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.

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