10:47 am, August 7, 2023
JCT600 has bought a site on a York business park to use as a vehicle preparation centre.
The high-end dealership chain will take over the 17,521 sq ft Centurion Park premises formerly used by delivery firm DPD and near a JCT600 accident repair centre.
The off-market deal was for an undisclosed amount, according to BusinessLive, which said JCT600 was advised by property consultants Eaton Commercial.
BusinessLive quoted Eaton Commercial director Robert Eaton as saying: ‘The opportunity for JCT600 to secure the freehold of further significant property in the heart of their dealership and support network at Clifton Moor, York, was not to be ignored, with the deal being rapidly concluded.
‘JCT600 are now working up their plans for the business operation from the site.’
The warehouse was sold by GV&Co, whose senior surveyor Jonathan Jacob was quoted as saying: ‘Unit 1, Centurion Park provided a unique opportunity for JCT600 to acquire a modern, low-site-density building adjoining their existing ownership and we are pleased to have concluded the sale quickly.’
It comes in the wake of JCT600 posting its results for the year ended December 31, 2022 in which the Car Dealer Top 100 firm revealed that although turnover rose by 11 per cent to £1.45bn, its pre-tax profit sank by 4.4 per cent to £43m.
Operating profit before amortisation, which JCT600 said was a better indication of its business performance, fell from £49.156m to £48.334m – a drop of 1.7 per cent.
Return on sales, meanwhile, fell by half a percentage point to three per cent.
The number of new and used cars that it sold fell, although a precise volume figure wasn’t given. However, a more premium model mix resulted in a 20 per cent-plus rise in the average sale price, it said.
It specifically cited the closure of its Bradford Vauxhall, Citroen and Peugeot showrooms following a strategic review of the brands as affecting the number of vehicles sold.
Car marques that JCT600 represents include Bentley, Ferrari, Maserati and Rolls-Royce.
Main image via JCT600
