Schofield Sweeney advises Riverside Motor Group on latest acquisition

Schofield Sweeney advises Riverside Motor Group on latest acquisition

Schofield Sweeney has advised Yorkshire-based Riverside Motor Group on its acquisition of Harratts Group’s Honda site at Calder Park Wakefield for an undisclosed sum.

The deal includes Harratts’s Honda dealership and assets at Calder Park, its former Kia showroom, and a lease of premises at Darton, Barnsley, for a period of 10 years.

Riverside will represent Honda for Wakefield and Barnsley and the Honda dealership will continue to operate from Calder Park in Wakefield. Riverside is retaining all existing staff.

Honda becomes the fifth franchise to join the growing Riverside family as the group also represents Volvo, SEAT, CUPRA, and Mitsubishi.

The corporate and commercial property teams at Schofield Sweeney advised Riverside on both the acquisition at Calder Park and lease of the premises in Barnsley.

Established in 1982, Riverside is an independently owned business trading from sites in Doncaster, Wakefield, and Hull. The group has a reputation for creating a warm, friendly environment, and providing an exceptional car buying and ownership experience.

Basharat Ali, partner in the commercial property team at Schofield Sweeney, said: “We are pleased to have acted on behalf of Riverside in their latest acquisition. The transaction required a quick turnaround and a team-based approach not only from our commercial property and corporate colleagues but also from external tax advisers and surveyors. I would like to congratulate Mark Denton and his team at Riverside on this latest acquisition and wish Riverside all the best going forward.”

Mark Denton, managing director at Riverside, said: “Despite the Covid restrictions, the team at Schofield Sweeney were on hand throughout. Acquiring the Honda site has given us the opportunity to further expand our footprint in the region. We will continue to invest in the business and build on our well established reputation.”

Basharat Ali and Howard Jenkins (commercial property) and Angela Cashin and Ben Jackson (corporate) from Schofield Sweeney acted as legal advisers to Riverside.

Schofield Sweeney has advised on four significant transactions in the motor sector this year, including Ringways Motor Group and Smart Fleet Solutions.

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Mark Dugdale

Mark is the Editor of Yorkshire Legal. Mark welcomes articles, letters or feedback from readers and can be reached by emailing mark.dugdale@barkerbrooks.co.uk