Property News Hatrick of deals for Colliers International

A corking deal for Colliers International

Majestic Wine Warehouses, the UK’s largest wine warehouse chain, has acquired the former Ford dealership site in Four Pools, Evesham.

The company, which operates 160 stores throughout the UK, has taken a fifteen year lease at an annual rent of £45,000.

The two-storey building, on Foor Pools Lane, adjacent to Four Pools Retail Park, extends to circa 4,685 sq ft  (435 sq m) on a site of approximately 0.3 acres (0.15 hecatres), which includes 30 car parking spaces.

Colliers International’s automotive and roadside team acted on behalf of the landlord, a private pension fund. Majestic Wine were represented by Rapleys.

Ben Briant, a Senior Surveyor in Colliers International’s Automotive & Roadside team in Birmingham, said: “Majestic Wine is contuning its growth and looking for good roadside property. The former dealership is an ideal building, given its prominent location, and I’m sure they will trade very well on the site.”

In a further deal, Colliers International advised Brooklyn Motors Directors Pension Scheme on the sale of the former Skoda dealership on Hillmorton Road, in Rugby. The 5,562 sq ft facility has been acquired by property developer UK & Maine. Pre-lets have been secured with Sainsbury’s and Barnardos.

Mr Briant said: “The difficult conditions facing the automotive sector have unfortunately lead to a number of casualties within the industry, particualry smaller dealerships. This has, however, presented opportunities for other roadside related opperators to expand their businesses.”