Colliers International has completed a hatrick of deals in the Midlands on behalf of Volkswagen Group UK Ltd.
Colliers’ automotive and roadside team in Birmingham advised Volkswagen on the disposal of two separate development sites in Leicester and Northampton and a car showroom in Stoke-on-Trent.
In Leicester, property development company Sowden Group has acquired a 2.7 acre site on Abbey Lane, while in Northampton car dealership group Bristol Street Motors has bought
4.25 acres of land on Carousel Way, where it intends to build a new showroom following the acquisition of the Vauxhall dealership business in Northampton from W Grose.
The new Bristol Street Motors dealership will add to the existing dealers located within close proximity to the site, including Land Rover, Renault and Mercedes-Benz.
Additionally, Staffordshire-based Randles Motor Group has acquired a 13,000 sq ft former Audi showroom on Cobridge Road, Hanley, Stoke-on-Trent, to add a Suzuki dealership to its exisiting Peugeot business, which adjoins the site.
John Roberts, a director in Colliers’ automotive and roadside team, and associate director Ben Briant, advised Volkswagen on the deals.
Mr Roberts said: “The three deals illustrate the ongoing churn within the automotive sector and that demand for well located sites remains strong.”
The deals, which reflect a combined realistion of in excess of £5 million, topped off a successful year for Colliers’ automotive and roadside team.
In 2011, the team generated more than £30 million of sales for a wide range of manufacturers, dealers, banks and private investment companies. It also advised on 30 lettings, totalling nearly 200,000 sq ft, and valued 700 properties, worth more than £600 million.
David Chittenden, director and head of the automotive and roadside team, said: “As the figures demonstrate, 2011 was an exceptional year for the team, with revenues being driven by both transactional and professional work.
“Hopefully 2012 will be an equally successful year but we are anticipating conditions to be much more challenging.”