Key features
- Very rare opportunity to acquire a Car and Van Rental business plus a Used Car Sales Site on one of the busiest roads on the Isle of Wight
- Current business runs 6 x Hire Vans and 9 Hire Cars plus a substantial Used Car Sales Site able to support a further 50 cars
- The Site is next to Morrisons, opposite Aldi, and adjacent to KFC, a Premier Inn & Marston's Pub
- Offers invited “in the region of” £75,000 for the Van & Car Hire Business, simultaneous with a new lease for the Site. Freehold Sale also considered. P.O.A.
LOCATION
Located in Lake on the A3056 (Newport Road) which links the Sandown, Shanklin, Lake conurbation to Newport and Ryde. It is adjacent to the recently opened KFC, Premier Inn and Merrie Gardens Farm Pub (Marstons) and opposite to Aldi and next to Morrisons. It also benefits from the many retailers and passing traffic visiting the Spithead Business/Commercial Centre. The A3056 is the 3rd busiest road on the Isle of Wight.
DESCRIPTION
The Used Car Sales Site currently runs to circa 1,300 m² (13,993 ft²) and is able to accommodate a further 50 cars. Please see plan overleaf for further detail. The site will benefit from a Portacabin / Office from which to run the Used Car Sales and Van and Car Rental Business. The Van and Car Hire business has traded for many, many years and has been very successful as has The Used Car Sales Site. Our client is wishing to retire and move on to other things, thus is wanting to offer the two businesses for sale. He has been gradually building up to his retirement, and therefore has not been giving the business his full attention during the last year. The business comprises 6 x Rental Vans, 9 Rental Cars plus a Used Car Sales Site. Full accounting information is available to bona fide applicants only following a viewing of the business and show a strong consistent turnover, with the exception of the figures for last year, as explained above.
TERMS
PRICE NOW REDUCED to "offers in the region of" £75,000 as our Client wishes to Retire. Price includes the business, plus stock at valuation simultaneous with the granting of a New 7 Year Lease at £12,000 per annum for the 1st Year, increasing to £20,000 per annum for Year 2 and 3. There will be a Rent review at the end of the 3rd year of the lease to R.P.I. (Retail Price Index). Our Client may also consider a Sale of the Freehold Site. Price on Application.
VIEWING
Strictly by appointment with sole agents Gully Howard Commercial Property, Suite 11 Salisbury Gardens, Dudley Road, Ventnor PO38 1EJ. Call Gavin Chambers or Morgan Williams on 01983 301434. E: gchambers@gullyhoward.com or mwilliams@gullyhoward.com.
UNIFORM BUSINESS RATE
Rateable Value: £TBC
2022/2023: £0.512p without small business relief. Interested parties should make their own enquiries of the Isle of Wight Council to confirm any rate liability or rate concession that may be applicable by telephoning Business Rates on 01983 821000
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