Real estate

Commercial Properties

Advent Business Sales is pleased to have been instructed to offer to the market this excellent investment property with attached in house buffet service business. Although the premises in part, dates back over 60 years, various extensions and additions have resulted in the building having 4 different titles at the land registry office. The present vendors purchased the premises in 2006 and divided them up to be suitable for letting purposes and for function room hire. The vendors have now reluctantly decided to sell the premises as they are planning to emigrate. The current income for the 6 separate areas amount to £3608 per calendar month, payable monthly in advance. The two function rooms are booked on average 4 days per week by quality customers such as Bedford Borough and County Councils, the police and local security firms. This equates to a monthly income of £3600 on average. In addition to these incomes, the business provides a buffet service for those using the function rooms, for which the average cost is £2000 per month. Gross profit on the buffet service is approximately £1,300 per month. The whole site therefore contributes a gross income of £8500 a month or £102,000 per annum. The business only has the need to employ one full time employee to prepare and serve the buffets. REF: 8856MK TRADING HOURS Mon – Fri: 8.00am – 6.00pm Sat - Sun closed EXPANSION POTENTIAL Whilst the premises provide excellent returns, there is still scope to increase profits further by: 1. Increasing the rents when their current leases expire in another 2 years, they will by then not have increased in 4 years 2. Advertise the function rooms as available at Christmas for parties and disco’s 3. The leases provide that a charge be made of £1.00 per square foot to occupiers to cover the cost of a receptionist, this has never yet been charged 4. There is the possibility of a large piece of land to the rear of the premises being developed. The most likely route if this was to transpire, would be by demolishing the vendors building. FINANCIAL INFORMATION We have been advised by the vendor of the following: Annual income: £102,000 Accounts will be made available to interested parties after a viewing has taken place. Please let us know if you require finance for the purchase of a business. BUSINESS PREMISES • Modern two storey premises of traditional construction. • Split into 6 letting areas with 2 large function rooms. • Shared facilities at regular intervals around the building. • A shared reception area. • Large car park with approximately 30 spaces. TENURE: Freehold We are advised that the annual business rates are currently: £4000 VIEWING Please DO NOT approach the business or its employees without a prior appointment. All appointments are to be made via our office.

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