Business for Sale in Hanworth, Norwich, Norfolk - TIMBER MERCHANTS WITH THREE BED HOUSE, FLAT & RENTAL INCOME - NORTH NORFOLK - Freehold: £1,495,000

Key Information

Ref
M33923A
Type
Retail Businesses: Builders Merchants
Location
England: Norfolk
Tenure
Freehold
Status
For Sale
Accommodation
3 Bedrooms
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Hanworth Timber Company has been providing timber products for both trade and public for nearly fifty years and for the most part has been a family run company. It was started in the seventies by the vendors father who ran the company as a saw mill producing mining timber and some fencing for the trade and public.

After some years, he sold the company to his daughter who has built the business up over the last thirty five years to its current highly profitable size.

At first, the vendor ran the company as a saw mill but gradually changed production in order to concentrate more on the fencing, garden products and retail side as well as making items to order.

Over the years a retail/trade shop has been added with high margin items sold in addition to the traditional timber and concrete products.

The time is now right for her to retire and for a new owner to take this business on to the next level and build on the first class foundation and reputation built by this well regarded local family.

Located in an idyllic area close to the coast, the business is based just on the edge of the Gunton estate. There is a true quality of life to be enjoyed along with the opportunity to acquire a highly profitable enterprise.

THE BUSINESS ITSELF

Business has grown steadily over the last several years and shows no sign of abating. Supplying both trade and retail, the business has expanded its product range considerably and has evolved to satisfy the demands of an ever increasing market.

Over recent years the vendor has mainly moved away from client accounts to offering very competitive discounts at point of sale. This has dramatically reduced book keeping, bad debts and has driven turnover, cash flow and profits up.

Turnover is now in excess of £450,000 p.a with the high G.P. you would expect from this type of business and is growing year on year.

The retail shop stocks Irwin tools, Roughneck, Perry , Hitachi, De Walt , Draper, Ronseal, Halls power equipment and other quality high margin brands.

Outside along with the large quantity of timber are Allen Concrete products, Charlton gates and Trux decking. The vendor makes gates and other timber items to order from the well equipped workshop.

There is a leased fork lift and two fully owned late model flat bed trucks, one Mercedes the other a Transit.

Also included in the sale will be the income from two sublet units within the complex and the rent from a flat which is adjacent to the owners property. These add c. £20,000 to the bottom line profit and are not reflected in the company accounts.

ACCOMMODATION

ALL MEASUREMENTS ARE APPROXIMATE AND FOR GUIDANCE ONLY.

The business is spread over land of c. 1.25 acres. There is an extensive, modern building of metal frame construction containing a workshop which is fully equipped with Sedgwick woodworking machinery ( all recently renewed at a cost in excess of £20k) and a large, dry storage area. To the front is the main unit divided in two. One part is currently let to a mower sales and repair business, the main part a large showroom retailing woodworking implements, ornamental woodwork, outdoor garden furniture and peripheral items with a large office and trade counter.

In the fully concreted yard there are large stacking systems to contain the many timber products, as well as a central area well stocked with timber, mainly imported from Poland, Latvia and other Baltic countries and concrete fencing, panels and gravel boards of differing sizes. The whole is secure, well fenced and gated and is located in a quiet cul-de-sac in a rural area.

To the left of the main sales area is a smaller site containing timber stock and a number of outbuildings in various states and condition.

The whole is immaculately presented and shows the evident pride with which the vendor conducts her business.

Also included is the owners three bed, two bath house. The loft has been converted into an office. There is mains electricity, Calor gas and a septic tank. This is a substantial property with decking and gardens and a large parking area at the front. Again, this is presented in first class condition and will make an ideal home for the new owner.

To the side is a one bed flat which is currently let under an A.S.T. and the tenant has been in situ for many years.

Copyright © EM & F Group Limited 2019 - Company No: 03035561 - VAT: 631 4000 02