Motor Trader The award-winning and longest running UK magazine for car retailing professionals. Your first stop for News, Jobs and Reports for the motor industry.
Lookers Group is to move its headquarters later this year in Manchester.
The listed group, rated three in the Motor Trader Top 200 with annual turnover of £3.6bn, has completed the acquisition of the 21,000sq ft Aspect House, Altrincham, near Manchester for its new HQ.
Lookers has bought the freehold interest and will relocate from its existing premises near Old Trafford later this year.
Martin Vickerman, property director at Lookers plc said: “We are thrilled with the purchase of Aspect House which will enable the business to continue to grow. The move to the new facility is the natural next step for a modern business.”
Lookers turned in a record performance in 2016 with pre-tax profits up 46% to £91.8m on turnover up 17% to £4.3bn.
The group has been expanding its business. During 2016 it acquired Knights BMW and MINI business and also Drayton Mercedes-Benz, giving it seven Mercedes-Benz sites across the Midlands.
In 2015 Lookers made its biggest acquisition, buying Benfield for £87.5m and pushing it up the ranks of the Motor Trader Top 200.
Lookers now represents 32 carmakers and sells 200,000 vehicles a year from a network of 160 franchised dealerships in the UK and Ireland.