Greenhous Group re-acquires Cazoo’s 36-acre Cold Meece site

Greenhous Group has bought back the Cold Meece used car preparation and refurbishment facility from Cazoo after selling it to the online car retail specialist in 2021.

Greenhous had originally sold the 36-acre facility to Cazoo three years ago as part of its Smart Fleet Solutions deal.

It has now reacquired the location for an undisclosed fee and will lease it back to Cazoo as the primary tenant on a multi-year lease back agreement.

This new deal is the latest in a number of acquisitions which has seen Greenhous grow its UK footprint to over 200 acres following similar acquisitions in Upper Heyford and Livingston in the last 12-months.

Ashley Passant, managing director Greenhous Group car and van operations, said: “The site will make a fantastic addition to our ever-expanding property portfolio.

“Cold Meece will continue to be utilised by Cazoo for the foreseeable future.”

A sale-leaseback will enable Cazoo to free up capital, while still retaining the property to operate from.

AM reported back in December 2023 that Cazoo is at risk of folding due to a lack of fresh funding.

In a US regulatory filing on December 18, the company stated that it may need to make substantial adjustments, or potentially cease operations altogether, if it fails to secure adequate funding.

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