Hilton Smythe is delighted to welcome to the market this well established and busy engineering business in Coventry, West Midlands. The business was established by our client in 2001 and is only now being offered to the market due to our client's desire for a change of career. The business operates 5 days per week and generates a turnover in the region of £310,000 per annum, with a gross profit of approximately 69%.
Our client offers a wide range of services and specialises in cast iron machining, jig design and manufacture and vertical/horizontal CNC machining. Our client produces for a variety of different industries such as the automotive aftersales market, static generators, components for use in hazardous areas, such as oil refineries and vacuum/suction pump components.
The business has an excellent reputation within the industry for the high quality of goods and services offered, which has resulted in a very loyal client base, with a good amount of repeat trade and word of mouth referrals. Our client has five regular customers, one of which provides circa 40% of the business. The premises boast a spacious open plan workshop area and production area.
We feel the turnover could be increased by extending the opening hours. The business has a very skilled and experienced workforce, who are able to take on any size of project from one-off products to large manufacturing quantities. A new owner could embark on a small marketing campaign to highlight the business and services offered. There is already an excellent website in place to advertise the business and the large amount of services provided. This is an excellent opportunity for a new owner to take this already thriving and busy business to the next level; therefore early viewing must come highly recommended.
TENUREWe are advised Leasehold:
Original lease length: 6 years
Remaining lease length: 5 years
Review every: 1 year
Rent: £39,000 per annum
HOURSThe business operates five days per week.
STAFFThe business is owner run and managed with 12 x full time staff members, plus 1 x part time inspector. There is also a 2nd shift on the horizontal cutter.
FINANCIAL PROFILEThe business generates a turnover in the region of £310,000 per annum, with a gross profit of approximately 69%
M & S Precision Ltd occupies substantial lock-up industrial premises, ideally located on a busy industrial estate in Coventry, West Midlands. The business benefits from ample private parking facilities and is surrounded by a wealth of complementary businesses. Coventry is the 10th largest city in England and the 12th largest UK city overall. The city has a residential population of 329,810 as of 2013. Coventry boasts a wealth of amenities including shops, parks, museums and art galleries, as well as a vibrant nightlife.
The area of the business is well served by the public transport system, with several bus stops within easy walking distance of the property. The nearest railway station is approximately two miles away. The area is also well served by the A-roads and motorway networks, with both the A444 and M6 motorway within easy driving distance of the property. Coventry is situated 19 miles east-south-east of Birmingham, 24 miles southwest of Leicester and 10 miles north of Warwick.
Circa 5,000 sq. ft. industrial unit, briefly comprising:
Open plan workshop with equipment to suit trade, including:
Horizontal machining centre.
CNC machining centre.
Large pallet/store area.
Secure perimeter fencing.
Car park for several vehicles.