Chartered Surveyors and Business Property Specialists
Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

To Let
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Cornwall Engine Company, Cardrew Industrial Estate, Redruth, Cornwall

Business to let

£120,000

Leasehold

An engine repair business located in Redruth. Established for 24 years and now being sold due to retirement. Well equipped (value £59,000), new renewable Lease. Consistent sales and profits.

  • ENGINE REPAIR AND REFURBISHMENT BUSINESS
  • WELL EQUIPPED (C. £59,000 VALUE)
  • WELL LOCATED FOR TRUNK ROAD
  • CONSISTENT SALES / PROFITS
  • NEW LEASE AVAILABLE
  • GENUINE RETIREMENT SALE
  • EPC: D98

Property Brochure PDF Location Map

Location

Cornwall Engine Company is located on Cardrew Industrial Estate, one of the principal trading estates in Cornwall, with easy access to the arterial trunk road, the A30 connecting east and west Cornwall. Redruth is situated in the historic and indeed current industrial heartland of the County and we are advised our clients draw on customers from a wide radius of this centre.

The Property/business

The business operates in one half of an Astron steel portal industrial unit (the other half being used by a different company), built we understand in the 1980’s as a single unit and since professionally sub-divided. The premises have an entrance door for customers and a roller shutter for movement of goods. The overall premises measures circa 268.6m (2,890 sqft), with a small mezzanine storage area and comprises defined working areas as the job is processed through the unit, customer entrance, office and staff wc and rest room.

We understand the business has been trading for 24 years (10 at a previous location) and 14 years in its current home. The business is concerned principally with engine repairs and takes customers from local garages, agriculture companies, marine etc and has some national clientele.

The business is run by our client owner with 3 other full time members of staff, trades all year and trades between Monday to Thursday 8am to 5.15pm and Friday 8am to 1pm.

In terms of the trade, the business has a turnover in the past 3 years from £282,000 ranging to £330,000 and has a gross profit level of circa 60% and an adjusted 3 year average profit of circa £60,000 per annum and a wage bill of 3 year average of circa £82,000. Further accounting information will be made available subsequent to a viewing appointment in the normal manner.

A significant part of the valuation of the business is the equipment, which is principally listed herein and we are advised has a value off site (ie resale in the market) in the region of circa £59,000.

The Accommodation Comprises

(all areas and dimensions are approximate)

The overall site measures 17.71m x 15.17m and is best described in terms of the job flow.

Customer Reception / Trade Counter with pedestrian door.

A large Roller Shutter door provides access to the side and leads directly to the Degreasing and Blast area.

Vapour Blasting And Cylinder Head Refacing Area

Pressure Testing And Cylinder Head Assembly Room

Cylinder Head Refacing Area

Crankshaft Grinding, Reboring And General Machining Area

Valve Seat Machining Area

Office With 2 Off Computers Running Sage Accounts

Store Room

Staff Rest Room With Rear Elevation

Staff Toilets

Mezzanine For Storage

Shipping Container Used For Storage

Outside

To the side and front of the property is spaces for circa 8 vehicles and also a 20′ x 8′ (x 8′ high) container currently used for storage.

Tenure

We are advised the premises has B2 (Light Industrial) Consent and will be offered with the benefit of a new Landlord and Tenant lease for an initial term of 10 years (or further persons required) on a full repairing and insuring basis (subject to a Schedule of Condition) at an initial passing rental of £15,000 per annum, with a rent review to be agreed.

The lease will enjoy the Security of Tenure Provision Sections 24 to 28, meaning that the lease is automatically renewable on the tenant’s request at the end of the initial term.

Schedule Of Principal Equipment

Please see below a list of the principal equipment (supplied by client) which will be transferred with the sale of the business free of lease or lien.

PMD Gamma 140 Cylinder Head Grinder

Vixen 1250 Vapour Blaster

Churchill Ring Grinder

PMD Brake Disc and Drum Lathe

Sunnen LBB1710 Horizontal Hone

Cebora TigStar 200 TIG welder

Joemars TR100 Broken Tap Remover

Delta Cylinder Head and Cylinder Block Pressure Tester

Boge CL7 Screw Compressor

Kwik Way SVS-D Valve Refacer

Jones & Shipman Surface Grinder

Berco STC361 Cylinder Head Grinder

PMD 945 Cylinder Head Refacer

Prince Crankshaft Regrinder

Hardinge Collet Lathe

XYZ 1550 Manual Lathe

Sunnen Con Rod Cap and Rod Grinder

Bridgeport Uiniversal Mill

Mira Centronic Valve Seat Cutter with Work Bench (2 off)

Lions Equipment 60 Ton Hydraulic Press

Cemb Crankshaft Balancer

Berco AC400 Vertical Cylinder Borer

Delapena Beam Stroker Cylinder Hone (2 off)

Odlings MCR 103P Grit Blaster Cabinet

Magido L90 Top Loading Parts Wash

Metalas Front Loading Parts Wash

Peg Valve Seat Grinder

SPS Mini Bar Cylinder Borer

Van Norman 944 Cylinder Borer

Hadley Engineering Cylinder Head and Cylinder Block Pressure Tester

Sioux Valve Refacer

Pichler Diesel Injector Removal Tools with Hydraulic Pump

Ford Transit Van Year = 2011

Ford Connect Van Year = 2008

Fiat Fiorino Van Year = 2008

Shipping Container – 20 ft

General Information

LOCAL AUTHORITY
Cornwall Council
General Enquiries 0300-1234-100
Planning 0300-1234-151
www.cornwall.gov.uk

Energy Performance Certificate

The Energy Performance Rating for this property is within Band D98.

Inventory

An Inventory of all loose chattels and equipment, free of any lease/lien, to be included within the sale will be supplied by Miller Commercial prior to exchange of Contracts.

Business Rates

We refer you to the government website https://www.tax.service.gov.uk/view-my-valuation/search

Legal Costs

Each party to bear their own.

Services

Prospective owners should make their own enquiries of the appropriate statutory undertakers:
Western Power: 0845 601 2989
South West Water: 0800 169 1144
Transco: 0800 111 999

Stock

To be taken at valuation.

Value Added Tax

All the above prices/rentals are quoted exclusive of VAT, where applicable.

Finance

If you require advice regarding the Financing of a Business, at no initial cost, please contact us on the number below.

Contact Information

For further information or an appointment to view please contact:-

Graham Timmins on 01872 247019 or via email gt@miller-commercial.co.uk

PLANS: Plans and maps reproduced under Ordnance Survey Licence No LIG1179. Not to scale and for identification of the property only. They are not intended to show actual site boundaries and not guaranteed to be accurate.

AGENTS NOTE: Miller Commercial for themselves and for the Vendor/s or lessor/s of this property give notice: [a] These particulars are for an intending purchaser or tenant and although they are believed to be correct their accuracy is not guaranteed and any error or misdescriptions shall not annul the sale or be grounds on which compensation may be claimed and neither do they constitute any part of a Contract: [b] Any intending purchaser or tenant must satisfy him/herself by inspection or other wise as to the correctness of each of the statements contained in these particulars; [c] No responsibility is taken for expenses incurred should the property be sold, let or withdrawn before inspection: [d] None of the services or appliances, plumbing, heating or electrical installations have been tested by the selling agent.

Miller Commercial is the trading name of Miller Commercial LLP registered in England and Wales under Registration No.OC373087. The Registered Office of Miller Commercial LLP is Mansion House, Princes Street, Truro TR1 2RF. We use the term Partner to refer to a member of Miller Commercial LLP. VAT Registration No.643 4519 39.

VIEWING: Strictly by prior appointment through Miller Commercial.

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Graham Timmins Head of Business Transfer View Profile

Contact us about this property

Call: 01872 247019
Email: gt@miller-commercial.co.uk

Property Brochure PDF