Massive Motoring World is gearing up for the £14m sale and leaseback of an enormous Mational Automotive Preparation Centre in Peterborough. The property is to be let to Massive Motoring World father or mother Bapchild Motoring World on a 20-year lease at £1m every year.
A sale and leaseback deal permits Bapchild to launch tied up capital and provides a recent injection of money into the enterprise.
Massive Motoring World has grown over the previous 18 months with the acquisition of from CarShop, two from Obtainable Automobiles and the opening of a brand new operation in Wimbledon. These acqisitions are anticipated to spice up general group turnover to £1bn.
Profitability has been hit. For the 12 months ending 31 December 2023 it reported a turnover of £697.44m (£529.68m to Dec 2022) and a pre-tax revenue of £2.247million (£10.953m to Dec 2022
Within the funding brochure produced with HSM Chartered Surveyors, it mentioned: “Falling profitability in the motor retail sector was a common theme for most dealer groups during 2023, primarily resulting from a constrained supply and pricing correction in the used car market following unprecedented price increases during the COVID pandemic.”
Massive Motoring World undertook a £1.75m refurbishment of the unit in 2020 upfront of their occupation.
The warehouse has 112 workshop ramps, together with 10 MOT bays, a components division and paint ovens for bodywork repairs.
Individually, Bapchild is presently embroiled in a Excessive Courtroom case with founder and ex-director Peter Waddel.
