Sale and leaseback completed for Stockport Porsche

Pendragon Group, who are set to open a Porsche dealership in Stockport under the Stratstone brand this year, have agreed a sale and leaseback agreement on the site.

The deal, worth £10.5 million, has seen the 34,500 square foot site off Marsland Street sold to Al Mana Property International Ltd. Pendragon have retained use of the dealership on a 15 year lease, with a market rent estimated at £665,000 a year.

The two floor showroom in Stockport town centre will hold over 30 display cars as well as hold Porsche Approved pre-owned models. The dealership will also feature a 13-ramp service and repair workshop, and two bays for on-the-spot diagnosis.

The dealership will be run by Stratstone, who already represent the Porsche brand at their Wilmslow dealership. The car maker is expanding its dealer network ahead of the launch of its first all electric models/

Stockport Porsche is expected to employ 28 staff, including sales and technicians, however Covid-19 has delayed a proposed opening date in May. Pendragon Group have revealed that disruption to the car retail sector had cost the business almost £5 million by the end of March.

Car showrooms are one of the first non-essential retailers permitted to reopen this month, as Covid-19 restrictions are eased, due to their large size and significant outdoor space for customers.