Kwik Fit has acquired a portfolio of 83 UK properties, as it aims to bring more sites into its direct ownership.

More than 30 of these sites, which it currently occupies, are in Scotland.

The tyre, MOT and car servicing retailer acquired Hawkeye Properties 501 - a Jersey entity - which was itself ultimately held by Spring Real Estate Investment Trust, listed on the Hong Kong Stock Exchange.

The multi-jurisdictional deal, for an undisclosed sum, also required consent from the Securities and Futures Commission of Hong Kong, as the transaction constituted a special deal under the Takeovers Code.

Paul Dempsey, property director at parent group European Tyre Enterprise, commented: “This transaction is a key part of Kwik Fit’s strategic plan for growth across the UK and Ireland.”

It was advised by law firm Shoosmiths, including legal teams within its Edinburgh and Glasgow offices.

Sheelagh Cooley, property partner and head of the Edinburgh office at Shoosmiths, added: “Having supported ETEL with portfolio acquisitions in 2023 and 2024 which saw 58 sites acquired, we are thrilled to have advised Kwik Fit on this latest acquisition of a further 83 sites.

This was a complex deal, which saw colleagues across the UK work collaboratively with multi-disciplinary and multi-jurisdictional teams, engaging real estate, corporate, litigation, tax, competition, environmental and regulatory specialists.”

Kwik Fit currently has more than 600 centres across the UK.

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