Eddisons has confirmed the sale of a motor trade complex that will see the new owner extend its East Midlands dealership operation to a regional customer base east of Lincoln, complementing its existing locations in Nottinghamshire and Leicestershire.
Sandicliffe has purchased the former Charles Warner site on Lincoln’s Outer Circle Road in a deal in which Eddisons acted as the agent for the vendor and Sandicliffe was represented by Geo Hallam & Sons.
The extensive site of 2.78 acres was marketed to let or for sale through Eddisons’ Lincoln agency office.
While the final sale price achieved remains undisclosed by either party involved in the transaction, the agent reports that it was inviting offers in the region of £2.5 million for the whole complex, including the comprehensive set of integral automotive sales and servicing buildings, offices and ancillary properties, totalling 43,210 sq ft within the site.
According to Will Wall, Director, Eddisons, who led the agency’s deal on the Outer Circle Road site, the location sees the dealership set up in a prime position.
He explains, “This is the location in which to be in Lincoln in terms of the commercial and domestic motor sales and wider automotive trade for the city and the wider area.
“Not only because it is where the full range of mainstream marques are represented – making it an established, high profile, one-stop style location for vehicle buyers and owners – but also as it’s a business district of the city which will see significant benefits through access to a wider regional reach with upgrade of the Lincoln Eastern bypass.”
In confirming the attractiveness of the site as an ‘oven ready’ facility to move in to, Tom Barton, Director of family-run Sandicliffe, adds, “The site also allows the continuation of the MG brand in Lincolnshire. Additionally, exciting brands, such as the commercial vehicle marque Maxus, will be added to the site over the coming months.
“Once the refurbishment works are complete, then any surplus space within the site may be available to let on a short-term basis.
Roger and Giles Davis at Geo Hallam & Sons and Browne Jacobson acted for Sandicliffe in the acquisition.
