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Prestige Car Direct to exit motor industry

North east-based dealer group Prestige Car Direct is to exit the motor industry with its move to sell the entire network.

Offers are currently being invited for the group as a whole, which consists of 10 freehold sites.

Established in 1995, with motor trade roots going back to 1948, Prestige Car Direct specializes in the resale of 3-6 year-old prestige and executive cars. Throughout that time, the company says it has prided itself in putting the customer first, and enjoyed 35% of all sales from repeat business and personal recommendation.

Chris Dacre, brother of Lind Automotive’s chief executive Graham Dacre, is co-director of Prestige. In a statement prepared for AM he says: “As a group we have made a positive decision to exit the motor industry. We are in discussions with a number of parties and looking to conclude the sale of our 10 freehold property assets within a short timescale. To date, we have had substantial interest.”

The group declined to comment on what price it is seeking for the group, which has sites in Darlington, Bishop Auckland, Marske, South Shields, Birtly, Stockton-on-Tees, Gateshead and Hartlepool, plus further sites and property in Durham and Sunderland.

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