- Eagers Automotive (APE) has entered an agreement to purchase a Sydney site for just over $76 million from Charter Hall
- The site is located in Castle Hill and covers 43,000 square metres
- Eagers will transform the site so it can accommodate up to eight brands plus the relocation of the Sydney- based EasyAuto123 and Carlins operations
- The purchase will transition the company from leasing to owning a site and will deliver a $15 million benefit over the existing lease term
- Additionally, the relocation of EasyAuto123 and Carlins will deliver a further benefit and will remove $2 million every year in external rent
- On the market this afternoon, Eagers is down 0.77 per cent and is trading for $11.53 per share
