Well Known Family Run Garage & Retail Shop

Description

Freehold option £499,999 +SAV
Leasehold option £189,999 +SAV

Hilton Smythe welcomes to the market Lloyds Garage Ltd.

Lloyds Garage is an iconic business to the inhabitants of Stourport and the surrounding towns and villages having been established in 1925. The business occupied a prominent site in Stourport town centre close to the bridge but relocated seven years ago when the local council purchased the site. In the event, the move to a much more practical and modern building in a great location has proven successful and lucrative. All the business’s original customers followed to the new site and the business has also generated many new customers who use the services provided on a regular basis.

This great family business has been passed from generation to generation and is now reluctantly being sold only so that the current owner can enjoy a well-earned retirement.

Lloyds Garage aims to be a ‘one stop shop’ for all motorists needs and offers the following services:

Class 4 & 7 MOTs
Repairs on all makes and models
Brakes, pads discs, shoes, cylinders etc.
Steering, racks, links, track rod ends etc.
Suspension, shock absorbers, springs, ball joints etc
Clutches, cover, plate and bearing replacement
Electronics, fault code reading for most makes and systems
General servicing on all makes and models
Exhausts.

Additionally, there is an extremely well stocked retail shop offering spare parts, car accessories, tools, paints, etc.

The business has many regular customers and enjoys good visibility on the internet featuring on sites such as yell.com, www.192.com, www.bookmygarage.com, www.yelp.co.uk and mot-testers.co.uk to name just a few.

Scope to improve
Website to extol services offered, a gallery of work completed and perhaps an online booking facility.
Advertising and marketing campaign, the current owner has no need to advertise but a new owner may choose to pursue.
Maximise the use of social media particularly Facebook and Twitter.
Extend the opening hours, could see increased turnover if opened during the weekends.
Introduce a customer loyalty or referral scheme.
Consider an eBay shop for parts and accessories.
Increase the signage from the main road to drive new customers to the business.

Tenure

Freehold/Leasehold

We are advised that Lloyds Garage is being sold as a Freehold business.

However, the vendor would consider selling the business on a leasehold basis and proposes an annual rent of approximately £22,500 with a mutually acceptable lease to be agreed with the new owner.

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Hours

Monday to Friday: 8am – 5pm
Weekends closed

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Staff

The business is run and managed by our client with the help of four full time and one part time members of staff.

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Financial Profile

Lloyds Garage generates an advised current turnover of approximately £400,000; the business continues to grow at an impressive rate.

Business rates of circa £7,000 are currently paid.