Acquisitions

GECP were instructed by clients the Harwoods Group to advise upon and assist with acquiring a site for a new Jaguar Land Rover dealership in Crawley.Motor Dealership

GECP identified a number of potential sites and undertook due diligence research and enquiries.

A suitable site was chosen and negotiations resulted in Harwoods acquiring a 9½ acre site in the heart of Crawley’s main Business Quarter in Manor Royal on a site generating income from airport parking.

Planning consent was subsequently obtained to develop a new dealership facility to JLR’s latest corporate standards together with a 16,000 sq. ft. SMART repair facility.

Surplus land is being held for possible future expansion or development or disposal.

GECP have further advised Harwoods on their exit strategy from their existing twin leasehold sites.

Lease Advisory

GECP advised and negotiated on behalf of their Landlord client the surrender of a head lease to VW Group UK Limited and re-grant of a new lease to Motorline (Kent) Limited of a dealership facility in Horsham.

Following completion of the new lease GECP were instructed to negotiate the subsequent rent review.

Asset Management

Acting as part of the team at Barber Wadlow, GECP assisted in the due diligence process in the acquisition of a portfolio of over 200 petrol stations.

Following acquisition GECP has continued to provide property and management services in connection with the petrol station portfolio including lease renewal and rent review negotiations, marketing surplus sites and ancillary accomodation and developing asset management strategies as well as advice on day-to-day property management issues.

Other Recent Successes

Angel Service Station, City Road, London

Acting on behalf of the landlords R Company 2 Limited we successfully negotiated a ground lease rent review achieving an increase of £11,000 pa representing a 12.36% uplift.

Tate Brothers Limited

Acting for the landlord, Tate Brothers Limited, we negotiated a rent review of this workshop unit let to ATS Euromaster Limited.  A 27% increase in the rent was achieved by negotiation.

South Godstone Garages Limited

Acting on behalf of the above landlord we negotiated lease renewals on two small industrial units and a petrol filling station in South Godstone.  In all cases rental increases were achieved.

Houndmills Service Station, Basingstoke

We were instructed to approach the head landlord on behalf of the petrol station operator, Niza Superstores (Eastbourne) Limited with a view to acquiring the long leasehold interest thus merging our clients sub under lease into the head lease.  A successful acquisition of the leasehold interest for a premium was negotiated and at the same time the head lease and sub lease rent reviews were agreed.

Clarion Cars Limited

We were asked to provide a valuation to assist with negotiation for a partnership buy out of this car dealership, part of which was freehold and part leasehold.

Petrol Filling Station, East Street, Newton Abbott

Acting on behalf of  a private landlord we were asked to negotiate a lease renewal with Rontec one of the major independent petrol filling station operators,  We successfully negotiated a new lease at a full market rent from what had previously been a ground rent.  This resulted in nearly a doubling of the rent payable.

Hendy Dealership, Hollingbury, Brighton

Acting on behalf of the landlords,  Tate Brothers Limited, we negotiated a rent review of this multi franchise dealership facility. A 25% rent increase was achieved.

Valuation of Seven Car Dealership Portfolio

Acting on behalf of SMC Group Limited we undertook a valuation of a portfolio of dealership facilities in preparation for a possible sale of the company.  The company was subsequently successfully sold.