U.K.-based online digital auto retailer Cazoo has sold another site as part of its attempt to save money and become profitable.
It has sold a 36-acre site in Cold Meece, Staffordshire, England to Greenhous Group for an undisclosed amount. Cazoo will remain as the main tenant as part of a multi-year lease back arrangement.
The site had previously been sold to Cazoo in 2021, as part of its acquisition of Smart Fleet Solutions in September 2021, paying $97 million to improve its logistics capabilities.
Greenhous Group has locations across the U.K. and this is its latest acquisition following similar new premises purchases in Upper Heyford and Livingston, Scotland over the last 12 months.
“We are delighted to re-acquire the Cold Meece site, the site will make a fantastic addition to our ever-expanding property portfolio,” said Greenhous Group Car & Van Operations, MD Ashley Passant. “Cold Meece will continue to be utilised by Cazoo for the foreseeable future.”
Earlier this week, Cazoo announced two new board members, Paul Whitehead, current CEO and Paul Woolf, CFO to its new board of directors that was changed following the company’s restructuring in December that saw founder and previous CEO Alex Chesterman step down.