SOLD – Profitable West End Letting Agency, Glasgow (2682)

Leasehold £49,000

SOLD

This is a superb opportunity to acquire a well established quality letting business managing a portfolio of properties across the West End of Glasgow and surrounding areas.

The business has been running for over 15 years and has an excellent reputation which results in most of its landlords coming from word of mouth referrals.

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Type of business
This is a superb opportunity to acquire a well established quality letting business managing a portfolio of properties across the West End of Glasgow and surrounding areas. The business has been running for over 15 years and has an excellent reputation which results in most of its landlords coming from word of mouth referrals. Its portfolio is 39 properties owned by 35 landlords. The properties are mainly West End flats in desirable areas and which achieve monthly rents of £800 - 850. The business operates on a 10% management fee plus related finders fees, maintenance charges, etc. Annual management fee income alone is £40,000 plus additional service income. Due to the quality of both the properties and the landlords this is an easily managed and profitable business. All the current management agreements are fully assignable so could be easily be sold as a standalone business or added to an existing letting operation. The business is only offered for sale due to the current owners wish to retire. This business with a suitable handover is offered for sale at offers over £49,000.