Our Real Estate team, with support from our construction specialists, supported long-standing client, Marshall Motor Holdings Plc, one of the UK’s leading automotive retail groups, on its purchase of the Motorline Holdings Limited group in a £64.5m deal. The deal grew Marshall Motor Group by 48 operating franchises, 9 other trading properties and an additional freehold property for £2.9 million, and granted it options for two additional freehold properties for a further £24.9 million.
The acquisition is in line with Marshall Motor Group’s strategy which includes growing scale with its chosen brand partners; annual revenues are expected to exceed £3bn.
Commenting on the deal Stephen Jones, Group Counsel and Company Secretary for Marshall Motor Group, said: ‘
“The Greenwoods property team, led by Samantha East and Karin Horsley played a pivotal role in our acquisition of Motorline. This was the largest transaction in the sector since our acquisition of Ridgeway in 2016 and was extremely complex from a property perspective, involving over 35 properties, further separate freehold acquisitions and multiple new leases. All of this was achieved in an extremely challenging timetable.
We have worked closely with the Greenwoods Real Estate team for many years and they have supported us on an incredible period of growth in both our business and our property portfolio since our IPO in 2015.”
Head of Real Estate, Samantha East said:
“This was a transaction involving a significant number of properties, we have a fantastic team here at Greenwoods which worked tirelessly to ensure the property elements of the transaction met the tight timescales involved. Congratulations Marshall Motor Group, we are looking forward to supporting you in future stages of your development.“
This update is for general purposes and guidance only and does not constitute legal or professional advice. You should seek legal advice before relying on its content. Greenwoods Legal LLP is a Limited Liability Partnership, registered in England, registered number OC306912. Our registered office is Queens House, 55-56 Lincoln’s Inn Fields, London, WC2A 3LJ. A list of the members’ names is available for inspection at our offices in Peterborough, Cambridge and London. Authorised and regulated by the Solicitors Regulation Authority, SRA number 401162. Details of the Solicitors’ Codes of Conduct can be found at www.sra.org.uk. All instructions accepted by Greenwoods Legal LLP are subject to our current Terms of Business. VAT Reg No: 161 9287 89.
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