Dobbies have scooped up Woodcote Green Garden Centre as the 'Sale of the Century' of Wyevale Garden Centres continues.
Woodcote Green was listed as the most expensive site, £35 million freehold, when the portfolio of garden centres went up for sale in May.
In a statement issued this morning Wyevale announced the sale of its Woodcote Green Garden Centre to Dobbies Garden Centre Centres. It goes on:
Woodcote Green is the third largest garden centre in the UK market. The news follows Dobbies Garden Centres’ acquisition of five other WGC garden centres earlier this month.
Located in South London, the centre was bought by WGC in 2016 and run as a stand-alone entity within the Wyevale Group.
Roger Mclaughlan, Chief Executive of WGC, said: “We are pleased to have agreed the sale of Woodcote Green to Dobbies, one of the UK’s biggest and most experienced garden centre operators. We would like to thank our great colleagues at this centre, who have made a huge contribution to the business, and wish them well for the next stage of their growth and development under Dobbies’ ownership.”
Graeme Jenkins, Chief Executive Officer of Dobbies Garden Centres, said: “The acquisition of Woodcote Green represents another step in our growth plan and expands our footprint in the South of England.
“There is a great team at Woodcote Green who have succeeded in creating one of the UK’s best garden centres and we very much look forward to welcoming them to the Dobbies’ family.”
The sale is expected to complete at the end of this week and will bring Dobbies Garden Centres’ estate to 40 centres across the UK. Woodcote Green will become the largest garden centre in the Dobbies Group.
WGC has received a significant number of offers for all or part of the remaining WGC business from national, regional and financial operators as well as local entrepreneurs.
Anthony Jones, Chief Financial Officer of WGC, said: “Since the launch of the sale process in May we have already sold 29 centres and are currently evaluating a wide range of competitive offers from the group buyers, regional operators and local entrepreneurs. We look forward to further positive discussions with all potential buyers.”
Christie & Co, the specialist business property advisor managing the sale process on behalf of WGC, have run a two phase process that has achieved considerable interest from a wide variety of buyers. The opportunity to run one, a small group or a portfolio of garden centres has ignited interest within the sector and beyond, and Christie & Co continue to liaise with phase 2 bidders as the process continues.