A GROUP of car dealerships which expects to turn over a billion pounds next year has bought a Jaguar Land Rover showroom for £4.3million.

Hendy Group acquired the dealership in Wide Lane, Southampton, from Inchcape UK.

The dealership – one of Jaguar Land Rover’s Arch Concept venues bringing both its brands together – was opened in January 2019. Hendy already has Jaguar Land Rover (JLR) operations in Christchurch and Salisbury.

Hendy chief executive Paul Hendy said: “This is an exciting addition to the Group.

“|We are thrilled to be growing our representation with Jaguar Land Rover by adding Southampton to our two existing Jaguar Land Rover dealerships.

“We are happy to welcome new colleagues to Team Hendy who I’m sure will bring a wealth of experience to the group.

“Hendy has a very positive business relationship with Jaguar Land Rover and we look forward to getting started at this stunning facility.”

The Southampton-based merger and acquisition team of BDO advised on the deal to acquire the fixed assets and goodwill for a total of £4.3m, plus used stock at market value. The Southampton office of Lambert Smith Hampton brokered a deal for the freehold of the property with a long term lease agreed with Paloma Capital.

Hendy Group has been expanding this year despite Covid-19, becoming the official UK dealer for Moke and adding the Cupra franchise to its operations in Brighton.

It also saw the opening of a Gatwick Transit Centre and MG dealership in Crawley and a Toyota showroom in Christchurch.

It will open a Renault and Dacia dealership in Eastleigh in January, along with a Lotus dealership in the town, with another Lotus showroom to open in Exeter in the first quarter of 2021.

Last year, Hendy took over the Dorset-based Westover group of car showrooms in a deal that created one of the biggest dealership networks in the country.

Mr Hendy said: “Following a turbulent year in 2020 for all the reasons well documented the group is in a fantastic position for 2021 to achieve several milestones, becoming a billion pound turnover business and striving for a two per cent return on sales, delivering 100 per cent customer and colleague satisfaction.”