Aston Barclay clears debt to focus on strategic growth

Aston Barclay clears debt to focus on strategic growth

Time Stamp: December 18, 2023 6:01 AM
Source Node: 3023275

Motor auction group Aston Barclay has completed the sale-and-leaseback of its Chelmsford, Westbury, Prees Heath and Leeds owned sites to support the business' strategy of achieving profitable growth. 

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. Aston Barclay has agreed to long-term leases across all four of the sites. 

Aston Barclay said freedom form debt allows greater financial flexibility 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. 

Aston Barclay executive chairman 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 the business’ sites and the group will continue to trade as usual. The agreement means that Aston Barclay is 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.”

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