RCS - Vertu Motors PLC - Purchase of land and buildings in Derby

Vertu MotorsAnnouncement

14/04/2022 07:16

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RNS Number : 3285I  Vertu Motors PLC  14 April 2022

14 April 2022

Vertu Motors plc ("Vertu Motors" or the "Group")

Purchase of land and buildings of existing multi-franchise site in Derby

Vertu Motors, the UK automotive retailer with a network of 159 sales and
aftersales outlets, announces the purchase of the freehold and long leasehold
interests in its extensive multi-franchise site located in Derby.

The Group has operated the 5.5-acre Derby multi-site since September 2012,
when the trade and assets of the dealerships were acquired from Co-operative
Group Motors Limited.  A lease on the premises was granted to the Group at
the time of this purchase, with this lease due to expire in February 2026.

There are four separate buildings on the site, currently representing the
Nissan, Skoda, Renault & Dacia and Peugeot franchises, along with a
standalone Bristol Street Motornation used vehicle outlet.  The purchase of
the freehold and long leasehold interests secures the long-term future of this
strategically important location for the Group.

The purchase completed on 6 April 2022 for consideration of £7.1m, plus fees.

Robert Forrester, Chief Executive of Vertu Motors said:

"I am delighted to have secured the long-term interest in this important
location for the Group.  The five successful sales outlets located here make
a positive contribution to Group performance and are a significant part of
Bristol Street Motors representation in the East Midlands."

 

For further information please contact:

 

 Vertu Motors plc        Tel: 0191 491 2121

Robert Forrester, CEO

Karen Anderson, CFO
 Zeus Capital Limited    Tel: 020 3829 5000

Jamie Peel

 Andrew Jones

 Dominic King
 Camarco                 Tel: 020 3757 4983

 Billy Clegg

 Tom Huddart

 

Notes to Editors

Vertu Motors is the fifth largest automotive retailer in the UK with a network
of 159 sales outlets across the UK. Its dealerships operate predominantly
under the Bristol Street Motors, Vertu and Macklin Motors brand names.

Vertu Motors was established in November 2006 with the strategy to consolidate
the UK motor retail sector.  It is intended that the Group will continue to
acquire motor retail operations to grow a scaled dealership group.  The
Group's acquisition strategy is supplemented by a focused organic growth
strategy to drive operational efficiencies through its national dealership
network. The Group currently operates 156 franchised sales outlets and 3
non-franchised sales operations from 120 locations across the UK.

Vertu's Mission Statement is to "deliver an outstanding customer motoring
experience through honesty and trust".

Vertu Motors Group websites - investors.vertumotors.com / www.vertucareers.com

Vertu brand websites - www.vertumotors.com / www.bristolstreet.co.uk /
www.macklinmotors.co.uk / www.vertumotorcycles.com

 

 

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