Vertex Law

A seven-figure investment has seen one of Kent’s leading truck and bus dealerships purchase the freehold of its depot near Hythe.
 

MC Truck & Bus Limited has occupied the site on The Link Park, Lympne, since 2003, developing it into an important regional maintenance depot.
 

Under the deal the company, whose parent is MC Group Limited, bought the property from Volvo Group UK with funding provided by RBS and legal advice from Kings Hill-based Vertex Law.

Peter Booth, MC Group’s Financial Director, said, “We have enjoyed a good working relationship with Volvo over the years and continue to do so but the acquisition of the freehold of our property gives us maximum flexibility for the future. We plan to continue operating from the site for the foreseeable future and it makes sense financially to own the property. The clear and pragmatic advice we received from Vertex Law was essential in ensuring the deal went through smoothly.”
 

Jeremy Licence, from Vertex Law, who led the acquisition team, added, “This deal was interesting in the present climate because the bank was clearly keen to lend on the purchase. This demonstrates that, for the right borrower and the right deal, bank finance is apparently still available. This should provide some reassurance to the business community in these uncertain times.”
 

The depot at Lympne is one of a network of eight across the south-east that is operated by MC Group. The company, which has its headquarters in Aylesford, sells a range of commercial vehicles from Volvo, Hino and Isuzu.
 

MC Group has a specialist rental division and offers servicing, maintenance and fleet management services. The company also has its own dedicated training centre. The company serves a variety of sectors including retail distribution, construction, local authorities, waste, recycling and emergency services.