ACQUISITION OPPORTUNITY – LUXURY SHORT TERM LETTING BUSINESS
Mazars LLP is trying to identify potential purchasers for a luxury short term letting business based in Manchester and Liverpool.
• UK based Company which specialises in short-term let of luxury serviced apartments in the North-West on a B2B basis only.
• The apartments are furnished to a high level of service and security, located in prime locations as follows:
– Liverpool city-centre.
– Manchester city-centre; and
– Salford Quays.
• The apartments are exclusive to corporate stays only and there is availability of up to 360 people across the three locations.
• The Company leases the circa 125 apartments across 4 buildings.
• The Company has been trading since 2019 and has advanced plans to expand to an Edinburgh-based location with customers for this location already secured in part.
• Existing management would be willing to work for an extended handover period.
• Main financial issues faced by the company relate to working capital finding, meaning there is limited time available to find a buyer.
Key selling points
• Blue chip customer base, including accounts in the TV and film industry and high end professional services.
• The Company has secured a large north-west based fashion client and is the only supplier outside of the contract owner for one of the big 4 accountancy firms in Manchester.
• Prime locations in both Manchester and Liverpool with options to expand to Edinburgh, Leeds, Birmingham and Brighton next year with a leading developer .
• Flexible lease options at the three locations.
• Recently established on the Global Distributer platform ‘GDS’ and has arranged a new distribution channel to access OTA’s, expected to lead to substantially increased future bookings.
• The Company employs a highly skilled and knowledgeable workforce of 30 (12 FTE) employees based in Manchester and Liverpool
|Financial Performance (£’000)||Oct-19||Oct-20||Oct-21|
|Rental, Rates, Cleaning & Utilities||(1,087)||(2,136)||(2,448)|
|Balance Sheet (£’000)||Oct-21|
|Equipment & Stocks||143|
|Trade Debtors & Prepayments||399|
|Cash at Bank||300|
|Trade Creditors & Accruals||(438)|
|HMRC & Other Creditors||(217)|
Offers are invited in relation to the shares or business and assets
For further information, please contact:
One St. Peter’s Square