Three Audi showrooms have hit the market with offers in excess of £22.95m sought for the entire portfolio.
The three car showrooms in Bury St Edmunds, Liverpool and Nottingham are individually being marketed by Allsop for £5.48m, £8.15m and £9.3m respectively, on behalf of a family office client.
The properties benefit from long leases to Volkswagen Group UK with terms certain until 2033.
Bury St Edmunds Audi on Skyliner Way provides 22,345 sq ft of car showroom, workshop space and ancillary accommodation on a site of approximately 0.97 hectares; Liverpool Audi, on Sandhills Lane, consists of a 28,655 sq ft car showroom plus additional working space on a site of 0.74 hectares; and Nottingham Audi is a long leasehold investment let to Volkswagen until 2058 (with a tenant break in 2033), providing a 30,242 sq ft car showroom, workshop and ancillary accommodation on a one-hectare site.
Liam Stray, senior associate at Allsop, said: “These prime automotive investments benefit from strong locations and excellent covenants. Either sold separately or to a buyer keen to acquire them as a portfolio, they will be deeply attractive to purchasers keen to secure assets that provide long and stable income streams.
“We’re seeing growing interest among investors for alternative commercial investments, ranging from car showrooms, nurseries, SEN schools to hotels, with long-dated income proving immensely attractive in challenging economic conditions. Amid the continued expansion of our national commercial investments team, alternative asset classes will be a keen focus for growth.”
