Due to roadworks I took a different route than normal coming off the motorway a junction earlier.
Peter Vardy Carz are 2nd hand car showrooms - the Group also have new car franchises on other sites. They took over the site in 2023 and closed in less than a year.
The Glass Palace is around 25 years old
Initially a VW Franchise - the operator changed but it closed in under 5 years
Honda was the next to try - they last 12+ years and closed
Lay vacant for a time
Imperial Cars - 2nd hand chain - lasted around 3 years and closed
Cazoo set up and again lasted about 2-3 years before closing last summer
Peter Vardy - 9 months
A few hundred yards away a Renault Franchise 50+ years
A Mercedes Franchise site 30+ years
Fiat Franchise again around 30 years
2nd hand dealer 30 years
Vauxhall Franchise 20 years
Obviously cars are sold in the area but it appears the 25 year old, and empty again, Glass Palace seems to be cursed
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It could just be the lasting franchises own their buildings. With the passing of time they have repaid any loans taken 30+ years ago. They perceive the building as having zero cost - or more likely have adequate cash flows in tougher periods with no rent to pay.
Conversely the new boys may have rented the palace - no doubt the rent proportional to the plate glass. Low cash flow for a period means they can't pay the rent - inevitable consequences!
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Peter Vardy have closed many of their showrooms. Think they lost most of their franchises and just not enough second hand cars to go round for their Carz places.
Especially with Arnold Clark everywhere.
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Unlucky Glass Palace? - Terry
