Following the continued success of its Donington and Wakefield leases, Aston Barclay has announced the sale-and-leaseback of its Chelmsford, Westbury, Prees Heath and Leeds owned sites, as the business focuses on a strategy of profitable growth. Aston Barclay has agreed to long-term leases across all four of the sites.
Three of the properties have been acquired by a London-based multi-asset manager, with the other being purchased by a private investor. Neither have any links to the remarketing sector.
The sale-and-lease-back of these four properties is a strategic move that enhances Aston Barclay’s ability to focus on profitable growth. With debt freedom comes greater financial flexibility, enabling Aston Barclay to continue to invest in its core business and cement its position as one of UK’s leading vehicle remarketing brands.
The Wakefield and Donington sites remained unaffected by this announcement as they are already on long-term leases.
Executive chairman at Aston Barclay, Greg MacLeod commented: “The sale-and-lease back of these four properties is a strategic decision that enhances our ability to focus on profitable growth. We are committed to our six sites, and they are crucial to our growth plans.
This deal does not affect the day-to-day operations across our sites and the Group will continue to trade as usual.
The agreement means that Aston Barclay are completely debt free. The business continues to be profitable and scalable, and we continue to invest in our customer offer.
We continue to welcome our vendors and buyers to our six sites across the UK, and I look forward to us working together in partnership to deliver mutual growth in 2024 and beyond”.