Autosports Group Expands with Strategic Acquisition in Gold Coast

Autosports Group Ltd ( (AU:ASG) ) has provided an announcement.

Autosports Group Limited has completed the acquisition of land and buildings at 68-74 Nerang Street and 3-5 Suter Street, Southport, Gold Coast, Queensland, for $17.6 million. This strategic acquisition aligns with the company’s objective to secure flagship locations in key metropolitan markets, and they plan to develop a purpose-built Mercedes-Benz facility on the site. The development is expected to take two years, with sales operations commencing from an existing facility in the first half of FY27. This expansion, along with the recent acquisition of a Mercedes-Benz dealership in Canberra, strengthens Autosports Group’s national representation of the brand.

The most recent analyst rating on (AU:ASG) stock is a Hold with a A$3.15 price target. To see the full list of analyst forecasts on Autosports Group Ltd stock, see the AU:ASG Stock Forecast page.

More about Autosports Group Ltd

Autosports Group Limited is Australia’s only ASX-listed specialist prestige and luxury automotive retailer. The company operates over 75 businesses across key metropolitan markets in Sydney, Melbourne, Brisbane, Gold Coast, Canberra, and Auckland, New Zealand. Established in Sydney in 2006, Autosports Group has expanded from a single luxury dealership to a diversified automotive group representing premier luxury and prestige automotive brands. Their operations include vehicle dealerships, motorcycle dealerships, used vehicle outlets, and specialist collision repair facilities, offering comprehensive automotive solutions such as vehicle sales, finance, insurance services, aftermarket products, spare parts, vehicle servicing, and collision repair services.

Average Trading Volume: 340,209

Technical Sentiment Signal: Buy

Current Market Cap: A$697.2M

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