8:35 am, February 7, 2025
Big Motoring World has put its state-of-the-art national prep centre up for sale, as it looks to raise much-needed funds.
A sales brochure, seen by Car Dealer, reveals that the used car supermarket group is seeking offers of over £14.28m for the 9.8 acre site in Peterborough.
Described as a ‘sale and leaseback opportunity’ any deal would see Big Motoring World rent the site back on a 20 year lease, at a cost of £1m per annum.
It comes just five years after the premises underwent a £1.75m refurbishment ahead of Big Motoring World taking control.
The plot includes a used as a car preparation centre, a four bay industrial warehouse building and a two storey office block.
The warehouse includes 112 workshop ramps, including 10 MOT bays, a parts department and paint ovens for bodywork repairs.
There is also an appraisal centre, built in 2020, which allows cars to be inspected upon arrival at the site.
Big Motoring World says that the rent would be subject to reviews every five years as part of the sale. The lease would also include the option for the group to extend the term for a further decade.
The decision to sell the site comes after the used car supermarket group saw its pre-tax profit collapse by almost 80% in its most recent set of annual accounts.
The firm’s ousted founder, Peter Waddell – who is currently entangled in legal battles with the outfit’s new owners – told Car Dealer that the move represented a ‘sad day’.
The sales brochure, compiled with HSM Chartered Surveyors, says: ‘Bapchild Motoring World (Kent) Limited is the primary trading company of Big Motoring World, one of the UK’s largest car supermarket operators.
‘The company currently trades from 10 locations throughout England. The subject property is therefore strategically located to support this sales network and is pivotal to the business operation.
‘The company has seen significant growth in the last eighteen months following the purchase of three sites from CarShop, two from Available Cars and the opening of a new operation in Wimbledon.
‘This growth and acquisitions are expected to boost turnover to around £1bn and are an integral part of their target of becoming the market leader in the car supermarket sector.
‘Falling profitability in the motor retail sector was a common theme for most dealer groups during 2023, primarily resulting from a constrained supply and pricing correction in the used car market following unprecedented price increases during the Covid pandemic.’
Car Dealer has approached Big Motoring World for comment.
