Car dealership Meridian to expand in Stockport

CAR dealer, Meridian Motor Group, has announced plans to build a flagship Hyundai dealership in Greater Manchester, as part of a £5m investment in the North West.
 
The deal will see the Yorkshire company’s -based group’s turnover increase to more than £200m a year and will be its 10th since January.
 
After buying a prominent site at Kings Reach, Stockport, the business, which is celebrating its 10th anniversary, will spend £2.5m building the car dealership. Trading under Meridian’s Vantage brand, work on the new dealership will begin later this month, with a completion date scheduled for summer 2014.
 
Located next to the M60 motorway, the site will be Vantage’s biggest Hyundai dealership, filling one of Hyundai’s most important open points, and will feature a 10 car showroom, an eight bay workshop and space for 60 used cars.
 
Meridian has also received planning permission to build a new showroom on the site of the existing Vantage Toyota dealership in Preston. Work is expected to start in December with the new dealership expected to open in the late spring, creating 10 new jobs.
 
In total, Meridian has invested around £5m developing its four Hyundai dealerships in Salford, Stockport, Oldham and Preston.
 
In the past 12 months, Meridian Motor Group has more than doubled annual turnover from £65m to over £170m and increased the number of sites from seven in Yorkshire and Lancashire, to 17 across the North of England and the West Midlands.
 
Managing director, Mark Robinson, said: “It’s been a remarkable year for Meridian and the Stockport acquisition is part of the final stage of a planned but rapid phase of growth that has seen us develop a significant Hyundai presence in Greater Manchester in under two years. I am extremely pleased to be able to start work on our Stockport Centre and to be able to bring new jobs and investment to the area as well as further developing our relationship with a great brand.
 
“After growing at such a pace, it is important that, once a couple more planned acquisitions are complete, the business enters a phase of consolidation to ensure that we are able to maintain the strong values and focus on customer service that has made the Vantage name a success. However if the right opportunities develop, we won’t rule out further acquisitions in the future as long as they add value to the business.”
 
Tony Whitehorn, president and CEO of Hyundai Motor UK, added: “Hyundai is delighted to be partnering with Meridian Motor Group as they look to expand their own, as well as Hyundai’s, brand presence in the region. When the two sites open, they will offer the highest levels of customer satisfaction in terms of sales and also service and aftersales support.”
 
Meridian was advised on the acquisitions by law firm Walker Morris. Colliers International acted on the property aspects and Indigo Planning managed the planning process. The land transaction was acquired from Seddon, which will also carry out construction work on the site.