A car dealership group in Northern Ireland has announced that it is investing £1 million into expanding two of its sites following impressive sales growth.
The John Mulholland Motor Group, based in Londonderry, revealed that sales have grown by nearly 30 per cent over the past 12 months. As such the company is going to be ploughing money into major improvements at two of its dealerships, including buying out a neighbouring business to expand its premises at the Campsie Enterprise Park.
With motor trade businesses across the UK enjoying strong levels of growth, it is likely that many companies will be looking to expand or renovate their premises. For those that do, it is important to remember to update their combined motor trade insurance policy accordingly; whether it is making improvements to a site, installing new features or building an extension to a showroom, firms need to ensure the extra value this adds to the building and business is still covered by their insurance.
For businesses operating out of rented property, for example, tenants' improvement cover could provide protection for additional features they add to the site, such as a new customer waiting area.
According to the Belfast Telegraph, The John Mulholland Motor Group's rising car sales reflect "a buoyant market province-wide, with 17 months in a row of rising car sales". The £1 million investment will look to develop state-of-the-art facilities for both sales and after sales across its Skoda, Ford and Hyundai dealerships, as well as its U-First used car operations.