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From | Saturday 29 September 2018

A development of four car showrooms in East Yorkshire has been sold in a £14.3m deal.

Kestrel Group, on behalf of Marr Holdings in South Africa and advised by Carrick Real Estate and Azure Property Consultants, has completed the purchase of the Evans Halshaw Motor Park on Priory Park in Hessle.

The property, acquired from Kennedy Wilson Europe Real Estate, is fully let by Pendragon Property Holdings on a long-term lease and trades as Kia, Vauxhall, Citroen and Ford showrooms.

The four units total 105,139 sq ft on a site extending to 11.24 acres.

Steve Carrick, of Carrick Real Estate, said: "Multiple factors contributed to the strategic acquisition of the asset, including the secure long leases and advantageous fixed uplifts, both of which will guarantee long-term performance for our client.

Read the full story here.