Business for sale

Business description

This rapidly growing and profitable property lettings, management and sales business was established in 2004 by the current owners. In 2006, they moved to their current high visibility and prominent location, centered in a very affluent area of Hertfordshire within the St. Albans postcode region. From the outset the business focused on the higher end of the market, letting properties for private landlords to professionals. With many High Net Worth individuals in the area and prime properties, the business has, and continues to build-up, a healthy client base with year on year growth in the region of 30% per annum.

Currently the business has around 110+ landlords on the books, most of which have only a few properties, and there are also four of blocks of flats under management. The majority of the properties are on a let only agreement, but with ongoing involvement producing additional income streams. The business is responsible for fully managing 26 properties, and more inroads could be made in this direction with current and new clients.

The business has sold a couple of properties in 2010, the fees for which present a healthy top-up to annual turnover. The business operates a fully audited deposit scheme, and has streamlined operations, with a low overhead business model.