17th March 2016
Vospers acquires largest site at Exeter’s Matford Green Business Park for multi-brand car showroom development
Leading South West car dealership Vospers has acquired a 9.5 acre site on Phase 2 of Matford Green Business Park in Exeter for a multi-million pound motor park development.
This transaction takes the automotive sector commitment to the Business Park, over a two year period, to 21 acres from a total of 27 acres and follows deals for new dealerships for VW, Lexus, Toyota, Audi and Jaguar Landrover.
Vospers will submit a planning application for a new FordStore, one of just 60 flagship showrooms in the UK which showcase the latest collection of exclusive Ford models such as Mustang, RS and Vignale. The FordStore will also combine a dedicated Transit Centre.
The plans will also include additional showrooms to relocate a number of Vospers’ other franchises to the site.
Paul Withers of Eagle One said: “This string of high profile transactions has firmly shifted the focus of the city’s car showroom district to Matford Green.”
Noel Stevens, partner at Alder King in Exeter which acted jointly on the disposal with Colliers, said: “We now have just six acres remaining on this final phase of the development. This is available on a pre-let basis and is ideally suited for complimentary occupiers keen to be part of the region’s leading automotive hub as well as wider employment occupiers within the trade, office, industrial and warehouse sectors.”
Nick and Peter Vosper added: “We are delighted to confirm our commitment to motorists in the South West with these state of the art new showrooms. We would like to thank Lloyds Bank for its continued support and for facilitating this significant investment in our business.”
Vospers’ long-term banking partner Lloyds Bank Commercial Banking provided a seven figure funding package to support the purchase of the new site.
Andrew Wilton, relationship director for Lloyds Bank Commercial Banking’s mid-markets team, said: “Vospers has been an integral part of the South West business community for 70 years, and in this time has grown significantly, whilst maintaining an enviable reputation for providing a high quality of customer service.
“Purchasing this new site signals another significant milestone for the company and represents a further substantial investment in the South West, which will support ongoing growth in the business and the region.
“We are committed to supporting ambitious businesses like Vospers that are looking to capitalise on growth opportunities, providing the tailored guidance and support needed to help them prosper.”
Alder King and Colliers advised the landowner. Vospers was advised by Foot Anstey.