South West automotive sector specialist Colliers International, with joint agent Alder King, has sold a key site at the Matford Green motor dealership hub near Exeter.
The sale to Helston Garages, for an undisclosed sum, is intended for a new development to represent Jaguar Land Rover (JLR) and completes the first phase of this ambitious development.
The fast-expanding business park has taken pole position in the region’s automotive sector and along with adjoining Marsh Barton, already boasts one of the largest concentrations of motor showroom facilities in Europe.
Volkswagen, Audi, Lexus and Toyota dealerships have already secured plots taking up the remainder of phase one, totalling just over 12 acres.
William Jolly from Colliers International’s Bristol Automotive and Roadside team said: “The latest deal sees Helston Garages acquire a four acre site intended for Jaguar Land Rover.
“This deal completes the first phase of Matford Green and we already have enquiries into availability on phase two.”
Helston Garages has recently acquired the Grange Jaguar business and proposes to develop a new facility for this and their Land Rover business on the four acre site.
Exeter-based Senior Associate, Nicholas Burt of Foot Anstey was involved with the transaction from the start, advising Helston Garages on the of the development land purchase with Foot Ansteys Corporate team leading the dealership acquisition. Stephen Newsom of Michelmores acted for the vendors of the land.
Volkswagen started the ball rolling taking a site in the north west corner of the 27 acre site, with Lexus, Toyota and Audi taking space either side of Matford Way.
Paul Withers, of Eagle One, on behalf of the landowner, added: “This is the last piece in the puzzle as far as phase one is concerned and there is no sign of interest slackening in the remaining plots. Further major manufacturers are expected to take space here alongside potentially office, industrial and trade counter occupiers.”
Will Jolly added: “Exeter comprises the biggest grouping of automotive facilities in Europe with more than 30 different manufacturers represented within a 1.5 mile stretch at Matford and Marsh Barton and this expansion goes hand in hand with higher expectations from the rapidly recovering car industry.
“Manufacturers are increasing their range of vehicles and are creating numerous variations within each class. This, together with the increased pressure for additional external sales and customer parking areas, is creating demand for bigger and better quality properties from which to sell and service their products.”
The Matford Green Business Park is consented for 500,000 sq ft of employment accommodation and is being marketed through Colliers International and Alder King.
