LONDON (ShareCast) - (Sharecast News) - Automotive retailer Vertu Motors said on Thursday that it has bought the freehold and long leasehold interests in its extensive multi-franchise site located in Derby for £7.1m.
The company 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 Limited. A lease on the premises was granted to Vertu at the time of the purchase, with the lease due to expire in February 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. Vertu said the purchase of the freehold and long leasehold interests "secures the long-term future of this strategically important location".

Chief executive Robert Forrester 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."

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