Trebor Developments, working in partnership with Ask Developments Limited, have agreed terms with Pendragon Group to develop a Porsche Dealership which will be located at the high profile Gateway site located on Junction 2 of the M54, on the main artery road into Wolverhampton City Centre.
The development will consist of a high quality dealership to Porsche standards, extending to 27,000 sq ft plus extensive car display and external areas. The transaction will be implemented on a 20 year leasehold basis, with the investment being retained by Ask Developments Limited.
A planning application for the scheme will shortly be submitted and subject to planning consent work is expected to start on site in Spring 2014 to allow opening of the new dealership by 2015.
Bob Tattrie, Managing Partner for Trebor Developments, commented:-
“We are delighted to be working with Ask Developments Limited and Pendragon on this high profile and prestigious site, where phase one will be developed for this quality dealership. It is another example of increased activity across the Midlands market for long term leasehold transactions to quality occupiers, leading to the implementation of this development.”
David Kay, on behalf of Ask Developments Limited, commented:
“Despite there being stiff competition from other areas we are pleased that Wolverhampton was chosen, we are grateful for the support and proactive approach of the City Council Planning Department who played an important part helping us to attract this prestigious client to the area. “
Ask Developments Limited and Trebor Developments LLP were represented by Bulleys and Pendragon Group by Innes England.