September 19, 2021

WeBuyCars buys Ticketpro Dome

WeBuyCars has confirmed that it has bought the Ticketpro Dome from the Sanlam Pension Fund, and plans to make use of the venue as a second-hand automobile showroom.

RX Venue Administration, which has managed occasions on the venue in Northgate for the final 20 years, introduced on Monday (20 July) that the long-lasting Dome had been shut down attributable to it being offered.

In accordance with WeBuyCars, the acquisition will allow the corporate to extend its footprint in Johannesburg and can permit the venue to serve its authentic goal.

The Dome opened in 1998, serving as a key occasion corridor for a lot of worldwide artists and exhibitions, in addition to commerce reveals and festivals through the years. It has additionally hosted sporting tournaments such because the NBA Africa Video games, and the WWE Worldwide.

WeBuyCars chief govt Faan van der Walt stated that the Dome was initially supposed to be a everlasting motor showroom, nonetheless, permitting folks to view and check drive a wide range of automobile manufacturers underneath one roof.

He stated WeBuyCars will develop the house, turning it into one of many greatest second-hand automobile dealerships on the planet.

“Apart from cementing our presence in northern Johannesburg, we are confident this growth path will have a positive impact on the economy. We have always been proud of our roots and this next step in our expansion plan demonstrates our commitment to the South African car market which has significant growth potential,” he stated.

The Dome will be capable of retailer roughly 1,500 autos, offering prospects with an array of selections, the group stated.

The corporate already has automobile supermarkets in Cape City, Durban, Midstream, and Johannesburg, and is planning to launch an extra three supermarkets over the following 18 months in Gauteng, Western Cape, and Japanese Cape.

WeBuyCars is 74.9% owned by credit score supplier Transaction Capital. The remaining 25.1% of the shares within the group are held by the household trusts of the founding shareholders, Faan and Dirk van der Walt.

The corporate is a principal dealer of used autos by its built-in e-commerce and bodily infrastructure, providing finance, insurance coverage, and different allied merchandise.

It buys and sells roughly 8,000 autos countrywide on a month-to-month foundation. Its medium-term goal is to extend the amount of autos traded to 10,000 autos per 30 days, which it says stays on monitor.

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