Lookers Plc, the Audi dealership with premises in Crockford Lane, overlooking the A33 Reading Road, have successfully purchased a terrace of warehouse units which adjoins their site. They have paid £1,775,000 for the three units which form 1-3 Crockford Lane and have secured a planning consent for demolition followed by the construction of a new 11,500 sq ft motor trade dealership with associated workshop and valet facilities.
Two of the three units are already vacant, the third is occupied by Ripton Windows Ltd, who have leasehold security rights, but are likely to relocate elsewhere within the town once negotiations between the parties are finalised.
BDT represented the site owner, Wynnstay Properties Ltd, whereas Lookers were advised by Rapleys Automotive Roadside department.
Levels of interest in what was a rare freehold opportunity were very high from the outset, and Lookers had to fend off some quite stiff competition by offering a competitive price for the land. Nonetheless, having secured the site, and the planning consent, they have undoubtedly “futureproofed” their business in Basingstoke.
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Contact for further information:
Baker Davidson Thomas
Telephone: 01256 840 777
6th August 2019