The opportunity has arisen to purchase a dormant company that had previously traded within the construction and property sector.
Originally established in 2007, the business offered development services within both the residential and commercial markets. Their primary operations involved purchasing properties in need of refurbishment and either flipping them for a significant profit or retaining them for rental income.
Previously operating in and around South Wales, the business had experienced strong levels of trade until the financial crash of 2008/09. With property values dropping significantly, the business instead moved to retain their properties and use them to generate rental income – mostly to DSS tenants.
Between 2014 and 2016, the full property portfolio was sold and the company has remained dormant since. There is now the opportunity, however, for it to quickly be restarted by someone with a desire to operate in this field. Furthermore, the business has an accumulated loss of just over £180,000, potentially providing a substantial corporation tax saving if purchased by an existing company within the sector.
This opportunity is offered on a fully relocatable basis.
Previously, the business traded predominantly within the South Wales area, as at the time of establishment it proved to be an excellent location with ample development potential.
Upon successful purchase, a new owner wanting to begin trading once more can opt to remain in this location, or relocate the business as they see fit.
This is an excellent opportunity for an existing company within the property development sector.
Given the strong and rising housing market at present, this sale would provide a prospective purchaser with the ability to recommence trading quickly and offset taxable profits against the accumulated losses.