Business description:
A rare opportunity has arisen to acquire a business with a huge portfolio of managed properties in the South West of Mallorca. From high profile offices this company runs a very busy operation looking after rentals for English owners in a high density tourist area. The property Management side of the business runs each year on repeat and return bookings with new properties taken on for management regularly. The reputation this company enjoy is second to none and the recommendations come in thick and fast.
The expansion into Property Sales came because of the demand from owners for this company to handle their resales and new acquisitions. An office to meet the new challenges was created and are furnished and equipped to a high standard. The basement of the offices is used for storage for the laundry and equipment for the lettings.
The business expands in the summer with more staff taken on to meet the demand. The numbers of staff to run the business depends on how `hands on' the new owners are. The contractual obligations to existing staff will be met by the outgoing owners.
This is a business opportunity that needs to be seen and discussed face to face with the current owners. There is much to tell including the fact that after seven, busy, lucrative years it is time for them to move on - hence the reason for the sale.
The sale price is €308,000 for the Property Management& Estate Agency business.
The rental of the premises is €1021 per month plus IVA with 5 years remaining on the lease. This price is subject to the normal yearly increase for the cost of living.
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