Jersey-based property company Le Masurier has acquired a purpose-built Volkswagen (VW) car showroom at Gateway Business Park in Coulsdon, South London, for an undisclosed price from a private vendor.
The 1.57-acre property, which comprises a modern and highly-specified car dealership, extending to 26,986 sq ft across ground and first floor, is let to Motorline (Kent) on a lease that expires in December 2038. The site features generous vehicle display space, customer parking and vehicle storage to the rear.
Tom Williams, UK property investment manager at Le Masurier, said: “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.”
Eddie Higham, from the automotive team at Savills, added: “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.”
The vendor was advised by Knight Frank.
