Member Article

Gateshead car dealers move into Lincolnshire

Gateshead’s Vertu Motors have expanded into Lincolnshire with the acquisition of two Volkswagen dealerships for £3m.

The deal will introduce Volkswagen to Vertu’s portfolio and will allow the company to reach into the East Midlands and Lincolnshire through already established dealerships which turned over £20m last year.

Assets in the deal include a freehold property in Boston and a leasehold property in Lincoln.

Robert Forrester, CEO of Vertu Motors said: “We are delighted to introduce the hugely respected Volkswagen franchise which commands a UK market share of 8.75% into our manufacturer portfolio. These two dealerships will trade as Vertu Volkswagen and are situated in locations which are familiar to us from other Group operations and build on our strong presence in the East Midlands.

“We are also delighted to be opening a new SEAT dealership in Birmingham, the city where Bristol Street Motors was founded 100 years ago this year. These developments deepen our relationship with the Volkswagen Group, which we consider to be a key strategic development in building a balanced portfolio.”

Vertu now operate 97 sales and aftersales outlets across the country and already have a number of SEAT dealerships, a brand within the Volkswagen Group.

This was posted in Bdaily's Members' News section by Tom Keighley .