Savills has accomplished the acquisition of a purpose-built Volkswagen (VW) automobile showroom at Gateway Enterprise Park in Coulsdon for an undisclosed quantity.
The property, purchased by property firm Le Masurier is let to Motorline a subsidiary of Marshall Motor Group who function 17 Volkswagen dealerships within the UK, on a time period with 14 years unexpired, expiring December 2038.
The property, which was purpose-built for the Volkswagen model in 2013, includes a contemporary and highly-specified automobile dealership, extending to 26,986 sq ft throughout floor and first ground.
Externally, there may be beneficiant automobile show, buyer parking and automobile storage to the rear, with the location space being 1.57 acres.
It’s situated prominently on Gateway Enterprise Park, with in depth frontage on to the A23 and roughly 4 miles from junction 7 of the M25.
Eddie Higham within the Savills Automotive group says: “We’re happy to have accomplished the acquisition of this prime situated showroom protecting the prosperous South London market on behalf of Le Masurier.
Automobile dealerships exhibit sturdy distribution yield traits, and this asset exemplifies this.”
Tom Williams, UK Property Funding Supervisor at Le Masurier, remarked: “This was a great asset to add to our portfolio and one that met each of our core strategic objectives. The prominent location next to the A23 London to Brighton Road, set in a dealership cluster, sat well with our long-term investment outlook. We look forward to doing more work in this sector in the future.”
The seller was suggested by Knight Frank.
