Vertu Motors has bought the freehold and long leasehold interests in a multi-franchise site located in Derby in a deal worth £7.1m
It has operated the 5.5-acre Derby multi-site since September 2012, when the trade and assets of the dealerships were acquired from Co-operative Group Motors.
Vertu was granted a lease on the premises which was due to expire in February 2026.
The business has Nissan, Skoda, Renault Dacia and Peugeot franchises on site, along with a standalone Bristol Street Motornation used vehicle outlet.
Vertu said the deal secure the long-term future of this “strategically important” location for the group.
The purchase completed on 6 April 2022 for consideration of £7.1m.
Robert Forrester, Chief Executive of Vertu Motors said: “I am delighted to have secured the long-term interest in this important location for the Group.
The five successful sales outlets located here make a positive contribution to group performance and are a significant part of Bristol Street Motors representation in the East Midlands.”