Online motor auction specialist invests £500k in new Leeds HQ

G3 Remarketing is investing £500k in the development of its Leeds-based headquarters, following a record year for turnover and profits.

The online motor auction specialist hit the £4m turnover mark in 2015, with profits totalling £900k, and now the 22-strong team of local staff is preparing to roll-out an investment programme that will double the workforce by the end of January.

Established in 2009, G3 has intended to focus on the auction of end of lease cars, but now the company is introducing a new service to satisfy further customer demand.

The four-acre site is being redeveloped to make way for a new physical auction hall with 30,000 sq ft viewing auditorium, buyers’ lounges and space to store up to 200 vehicles under cover.

A £100k state-of-the-art inspection and imaging studio is also being constructed, in addition to a vehicle preparation facility and additional storage. An office re-fit with additional workspace and meeting rooms will conclude the works, to accommodate G3’s growing team.

Matt Dale, G3’s joint director, explained: “The company was founded because there was an evident need for a high quality, independent, live online car auction in the industry. We’ve perfected the technology for this type of trade, and worked hard to raise the bar, ensuring every vendor and buyer is looked after from start to finish. We’re the only vehicle remarketing firm to do full audio walk around inspections of the cars, for instance.

“But we’ve been increasingly approached by buyers and vendors with part exchange vehicles up to the value of £5,000, who seek the same quality of service but still want to see, hear, touch and smell the cars. Given we’re ideally situated off the M62 and M1, we’re therefore extending our offering to echo the same level of standards at physical auctions too.”

The new evening event for main dealer and car supermarket sales has already attracted significant attention, with national brand Available Car signed up to offer 100 vehicles per week.

Focusing initially on the market in the North of England, there are already plans to acquire additional acreage, which will double the size of G3’s Leeds-based headquarters.

Matt concluded: “Having started out with only five employees we are very proud of our journey in the online arena to date. We’ve proved that the car auction trade can be a professional and customer service driven sector and we will continue to improve our service to our loyal online vendors and buyers.

“However, it’s very exciting to be able to support a new pool of customers, whilst doubling our workforce by the end of January and then again within the following 12 months.”