Leeds’ luxury car retailer motors past growth targets
Industry News13th June 20180 CommentsLizzy Doherty
A company specialising in supplying prestige cars to consumers in Leeds has made the move to purchase their leased home after accelerating past their growth targets.
SCC Leeds LTD was established back in August 2015, having previously been in a partnership for 6 years. The business opened with 20 to 25 cars ranging from £6,000 to £10,000 in price, but within the first year, it had grown to 35 cars available to retail up to £25,000 in price.
The business has continued to go from strength to strength, with over 60 cars in stock and now selling over 375 cars per year with values up to £60,000 and specialising in premium/prestige vehicles.
In March of this year, the business had the opportunity to purchase its leased premises and using their advisors, Sedulo, were able to fuel the deal using funding, including the deposit and even the VAT element –meaning cash flow was not tied up in the purchase but could be used to further grow the company.
SCC Leeds Ltd Managing Director, Remo De Biase commented:
“The business has really taken off in recent years, using my experience in the car sector and creating a niche in the sports and prestige sector. The nextstage of the businesses evolution was to own it’s own premises and having advisors like Sedulo really made the process hassle-free. We were put under a tight schedule by the landlord to complete the purchase and even with unforeseen problems Stephen managed to get an offer for us in 24hrs and ensured completion was easy.”
Sedulo Senior Funding Manager, Stephen Dinsmore added:
“SCC is an excellent business and I was delighted to be able to support the business in achieving its ambitions of owning its own premises. It was even more pleasing to fund the entire project so that the business didn’t have to outlay any of its own reserves which can be used for additional stock – I know where to come when I am in the market for my new car!”
Sedulo Director, Gavin Bell said:
“Having worked with Remo for many years I am delighted to see that his business continues to grow and succeed. The opportunity for him to acquire his business premises was a logical next step and a chance not to be missed. I’m thrilled that Sedulo was able to assist with the funding of that acquisition and I have no doubt that Remo’s business will continue to flourish in future. “