Three Volkswagen sites sold in Mids
Two development sites in Leicester and Northampton, as well as a car showroom, have been sold on behalf of Volkswagen Group UK by Colliers International's automotive and roadside team.
The Birmingham-based team at the commercial real estate agency advised Volkswagen on the disposal a 2.7-acre development site in Leicester to property development company Sowden Group.
Northampton car dealership group Bristol Street Motors also bought 4.25 acres of land in the town, where it plans to build a showroom following the acquisition of a Vauxhall dealership from W Grose.
Staffordshire-based Randles Motor Group acquired a 13,000 sq ft former Audi showroom in Hanley in Stoke-on-Trent.
Randles plans to add a Suzuki dealership to its existing Peugeot business, which adjoins the site.
John Roberts, a director in Colliers' automotive and roadside team, and associate director Ben Briant advised Volkswagen on the deals.
Roberts said: "The three deals illustrate the ongoing churn within the automotive sector and that demand for well located sites remains strong."
The deals reflect a combined realisation of more than £5m, Colliers said.
In 2011, the automotive team generated more than £30m of sales for a range of manufacturers, dealers, banks and private investment companies. It also advised on 30 lettings, totalling nearly 200,000 sq ft, and valued 700 properties, worth more than £600m.
