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Large Lettings And Management Agency In Portsmouth City Centre
Portsmouth, Hampshire, South EastIdentity protected
Available
About this business
A large lettings and property management agency employing 61 people, looking after rented homes for private landlords and housing investors across Portsmouth, including inventories, maintenance and deposit handling. It works from leased offices in the city centre, set up in 2020, and could move.
Turnover has fallen from £4.36m in 2021 to £3.85m, though adjusted EBITDA has risen from £172k to £204k. Margins are thin at about 5%. The asking price is £750k, roughly half of net assets of £1.42m.
Key investment highlights
- Team of 61
- Asking price below net assets
- Adjusted EBITDA up from £172k to £204k
- Inventories, maintenance and deposits
Reason for sale
The holding company is selling to concentrate on its build-to-rent developments.
Read this before you enquire
MaterialRevenue going backwards and one client being too much of it are the two things that end most deals in due diligence. Both are shown here up front, from the figures the seller supplied.
- Revenue directionMaterial
Turnover has fallen in each of the last 3 years, most recently by -3.1%.
- 2021: baseline
- 2022 (-2.7%)
- 2023 (-1.3%)
- 2024 (-2.1%)
- 2025 (-2.9%)
- 2026 (-3.1%)
- Peak 2021 to latest 2026: -11.6%
6 years of turnover, 2021 to 2026, as supplied by the seller.
- Client concentrationNot stated
The seller has not declared what share of revenue the largest clients represent.
No declaration supplied. Client concentration cannot be derived from accounts.
EBITDA margin widened from 3.9% in 2021 to 5.3% in 2026.
These are observations from the supplied figures, not a view on whether this business is worth buying. Nothing here predicts an outcome.
Computing valuation...
What happens next
Submit an enquiry to the seller. Once they approve it, you sign a non-disclosure agreement and gain access to the information memorandum, the financials and a secure deal room with the seller.