Pendragon sells two Yorkshire showrooms to independent builders merchant

Have your say

CAR dealership Pendragon has sold two Yorkshire showrooms to an independent builders merchants.

The modern purpose-built showrooms and The Gatehouse, an adjacent grade two-listed office building, all on Manchester Road in Bradford, have been sold to The Joseph Parr Group.

The Bradford office of chartered surveyors Eddisons completed the sale of the site for an undisclosed sum, which it said was above the original asking price.

It was instructed to dispose of the site last year.

The showrooms extend to almost 17,000 sq ft and were previously occupied by Pendragon’s upmarket brand Stratstone.

The Gatehouse is arranged over two floors, with a total floor area of 1,600 sq ft. It also has 11 parking spaces.

The firm reported strong interest from a range of potential buyers including budget gym operators, restaurant and banqueting companies and major retailers.

Shazad Mahmood, associate director at Eddisons, said: “Since the early part of the year we have received multiple enquiries which resulted in at least five firm proposals.

“It is a positive indication of current market conditions and the demand for quality stock, of which there is limited availability in this area, that we were actually able to achieve a figure higher than the original asking price.

“The unsuccessful bidders will be actively seeking similar sites in and around Bradford, which is good news for landlords with appropriate stock.”

In February, Pendragon said Stratstone boosted annual operating profits by £1m to £26.9m, helped by strong sales for BMW, Jaguar, Land Rover and Mercedes-Benz.