Savills has completed the acquisition of a purpose-built Volkswagen (VW) car showroom at Gateway Business Park in Coulsdon for an undisclosed amount.
The property, bought by property company Le Masurier is let to Motorline a subsidiary of Marshall Motor Group who operate 17 Volkswagen dealerships in the UK, on a term with 14 years unexpired, expiring December 2038.
The property, which was purpose-built for the Volkswagen brand in 2013, comprises a modern and highly-specified car dealership, extending to 26,986 sq ft across ground and first floor.
Externally, there is generous vehicle display, customer parking and vehicle storage to the rear, with the site area being 1.57 acres.
It is located prominently on Gateway Business Park, with extensive frontage on to the A23 and approximately 4 miles from junction 7 of the M25.
Eddie Higham in the Savills Automotive team says: “We are pleased to have completed the acquisition of this prime located showroom covering the affluent South London market on behalf of Le Masurier.
Car dealerships exhibit strong distribution yield characteristics, and this asset exemplifies this.”
Tom Williams, UK Property Investment Manager 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 vendor was advised by Knight Frank.
