Investor buys Stafford dealership
Property investor Custodian Real Estate Investment Trust has bought the site of a car dealership in Stafford.
Stafford Audi at Hurricane Close is run by Swansway Group, which has 23 dealerships.
The 23,691 sq ft site is within a mile of junction 13 of the M6.
Custodian has also bought an Audi dealership in Shrewsbury and has paid £7.4m for the properties in total.
Richard Shepherd-Cross, managing director of Custodian Capital, said: "We are delighted to have secured these two well-established properties located within the prime motor retail pitches of their respective locations. Both are let to one of the UK's largest motor retailers and occupied by strong franchised dealers on long-term leases."
The Shrewsbury site is 19,730 sq ft and is on Battlefield Enterprise Park, four miles from the town centre. The unit is occupied by Lancaster, part of the Jardine Motors Group.
