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PROFILE |
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Description: |
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This self-storage business is recession resistant providing reliable income stream with minimal ongoing maintenance required.
The modern design houses some 900 storage units of various sizes and configurations. The building is in excellent condition and is located in the Western Cape in an up-market safe area with easy access to major routes. Services offered include: self-storage, document storage, vehicle Parking and a collection/delivery service.
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Industry / Sector: |
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Storage and Warehousing |
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LOCATION |
| State / Province: |
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Western Cape RSA |
| City / Town: |
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Cape Town |
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Location / Area: |
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Cape Town |
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Metro Proximity: |
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Cape Town. It should be possible to commute from this metro city to the business location. |
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Portability: |
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Zero Portability - This business can only operate from the area specified. There is no potential whatever for it to be relocated elsewhere.
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PRICE |
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Asking Price: |
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R 141 750 000
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| Conditions: |
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Buyers must prove access to a minimum of R30 million unencumbered cash |
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FINANCIAL & OPERATING INFORMATION |
| Turnover: |
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R 17 367 492 per month
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| Profit: |
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R 12 849 628 per month
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| Annual Return: |
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109
% per annum
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| No. of Staff: |
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8 |
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Year Established: |
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9 |
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Legal Persona: |
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Private Company (Pty) Ltd |
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Other Information: |
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NEW OWNER'S SKILLS and EXPERIENCE REQUIREMENT
There are no specialist skills required as this business is very easy to control and operate.
MARKET and CUSTOMERS
Currently there is a very good and loyal customer base.
Competition is low as there are high barriers to entry. Competitors would need huge capital outlay and there would be a long period to break even while waiting for storage to fill up and become profitable.
There are good opportunities for growth, especially in considering expanding into other areas.
LIFESTYLE ISSUES
Trading hours. Storage unit availability is 24/7 hours but most customers utilise self service.
This leaves an owner lots of time to play golf!
REASON FOR SALE
Personal issues which will be divulged to serious and qualified buyers.
NON-DISCLOSURE AGREEMENT
The prospective purchaser will be required to sign a NDA before any further details will be released.
Any interested party will need to be prepared to complete and sign an non-disclosure agreement.
Confidentiality could impact on staff issues and/or effect supplier and customer relationships and for these reasons the NDA will specify the limitations on use of information supplied. This protects all parties involved.
AVAILABILITY of AUDITED FINANCIALS
All the financials are in place and up to date.
DUE DILIGENCE
A mini Due Diligence has already been performed by ourselves.
SALE CONDITIONS
No seller finance is offered. The building value alone almost exceeds asking price.
PROOF of FUNDING REQUIREMENT
A potential buyer needs to demonstrate that they have access to the required unencumbered cash funds to finance the cash transaction portion of this purchase.
The seller will not provide any documentation, business details or financials and will not accept any offer unless the proof of funding has been provided.
HANDOVER ARRANGEMENTS and TRAINING
There will be a stay-on period for proper training and handover.
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