Our Birmingham office has advised Toyota Tsusho Automobile London Holdings Limited, the UK subsidiary of Toyota Corporation Japan, on two simultaneous deals with Currie Motors UK Limited – a retail representative of Lexus and Toyota vehicles.

The first was the sale of the entire business and assets of Toyota Tsusho Automobile London Holdings Limited’s car dealership at Coombe Lane flyover, Beverly Way, Kingston, SW20 0AD to Currie Motors UK Limited; the second was the acquisition of the business and lease of the land and buildings of Currie Motors UK Limited’s car dealership in Brookhill Road, Barnet EN4 8SN to Toyota Tsusho Automobile London Holdings Limited.

Toyota Tsusho has embarked on a drive to strengthen its London-based retail business and is currently building a new “super site” dealership in nearby Enfield. Both parties were in agreement that a directly competing dealership in Barnet would not be feasible upon the opening of the Enfield site.

Currie Motors UK Limited is a family owned business with four dealerships in the South East of England.

The Mills & Reeve team was led by corporate solicitor, Junaid Haroon who was assisted by real estate partner Michael Whatley and associate Mark Cole; Matthew Short, senior solicitor in the tax team and trainee corporate solicitor Carolyn Denison.

Mr Haroon said: “With many car manufacturers looking to globalise their operations we are delighted to have advised and assisted Toyota Tsusho on this deal which will allow them to fortify their retail business in the UK. This deal combined with the new flagship dealership which is currently being developed in Enfield will see Toyota Tsusho become the premier dealer of Toyota in North London.”

David Collis, Chief Operating Officer of Toyota Tsusho Automobile London Holdings Limited commented: “The development of the Enfield site is a major investment in a flagship operation for Toyota in London, and when embarking on such significant steps to make the opening possible, we needed a trusted legal partner. Working with Mills and Reeve ensured that process was seamless and the outcome a positive one. We are firmly committed to strengthening our retail business and despite current economic circumstances, remain optimistic that we can continue to increase our presence and grow our share of the London market.”