*** SOLD ***
Long-established Property Administration Company
About this business for saleLong-established Property Administration Company
This listing represents the opportunity to acquire a lucrative, long-established and well respected Property Administration Company operating in and around Durban North, Umhlanga and Ballito.
The Client profile is significant in size and comprises affluent business people in conjunction with upmarket, quality Real Estate, both pleasurable to work with.
Primary Client services include letting administration, financial record keeping, levy processing and collection, and insurance claim processing among others.
Advertising is minimal and business is gained via word of mouth and an established website.
It’s not uncommon for business to be turned away as enquiries for services offered are consistent but the Seller is looking to retire.
There is huge scope to expand the business by either developing a sales division, engaging in Holiday Rentals and/or offering an insurance brokerage service to Clients.
It will be essential that the Purchaser be registered with the Estate Agency Affairs Board with (at least) an NQF 5 qualification and be in the position to acquire a Fidelity Fund Certificate from this authority.
The business works out of offices owned by the Seller situated within the area of operation. While the sale of the premises along with the business would be preferred, the Seller is prepared to negotiate a lease alternatively, the Purchaser is at liberty to relocate the business to premises of their own choosing.
The business is staffed by a team of extremely competent employees all of whom are likely to remain in the business with the new owner.
Should it be considered necessary, the Seller is also willing to remain on in the business for a period of between 3 to 6 months to ensure a smooth transition in ownership.
Generating average monthly pre-tax profits of +/- 58k and listed at R2.25 million, this opportunity offers a return on investment of 30%.
Should there be any interest in acquiring the aforementioned property, it measures 142 square meters in extent and comprises the following;
* Open guest meeting area
* Boardroom (10 seats around a table)
* Open plan office (6 desks)
* Main office (4 desks)
* Accounts office (4 desks)
The property is currently insured for R2.4 million thus, market related offers will be considered.
For a confidential chat about this unique opportunity, kindly contact the listing Broker.