Vertu Motors purchases multi-franchise site for £7.1m

Vertu Motors has purchased the freehold and long leasehold interests in its multi-franchise site in Derby for £7.1m.

The UK automotive retailer has a network of 159 sales and aftersales outlets and has operated at the 5.5-acre multi-site since September 2012 when it acquired the trade and assets from Co-operative Group Motors.

A lease on the premises was granted then, with this lease due to expire in 2026.

There are four separate buildings on the site, currently representing the Nissan, Skoda, Renault & Dacia and Peugeot franchises, along with a standalone Bristol Street Motornation used vehicle outlet. The purchase of the freehold and long leasehold interests secures the long-term future of this important location for the group.

Robert Forrester, the 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.”