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Nidd Vale's £25 million turnover dealership snapped up for £800,000
AUTOMOTIVE retailer Vertu Motors has bought the Vauxhall dealership of Harrogate-based Nidd Vale Motors Limited, which is in administration.
Vertu, which has bought the dealership for £800,000, has entered into a short term lease at the Leeds Road, Harrogate premises currently occupied by Nidd Vale.
Nidd Vale had been working on a relocation to St James's retail park in Knaresborough and Vertu said it intended to move to Knaresborough within the next 12 months.
The dealership recorded a turnover of £24.2 million and an operating loss of £700,000 for the year ended June 30.
Robert Forrester, chief executive of Vertu Motors plc said: “Following the acquisition of the Bradford Nissan and Renault dealerships in September, the group is keen to develop the scale of its operations in Yorkshire.
"Nidd Vale has in the past been a very strong Vauxhall dealer with a substantial customer base. This acquisition represents a great opportunity for the group to develop its relationship with Vauxhall and to represent the Vauxhall brand in this area.”
Nidd Vale, a 92 year-old business, also owns the Saab, Mazda and SEAT dealerships on its Leeds Road site and Wetherby Vauxhall dealership.