CITY Auction Group has announced a £1m investment plan for Rockingham to develop and restructure the 250-acre site.
It will see the auction halls upgraded and new HQ offices introduced when it opens on January 8, 2019.
Additional services will include vehicle inspection, storage and refinishing opportunities. The auction firm said it planned to develop the successful brand into new regions, with talks already taking place to potentially enter continental Europe with strategic partner hubs and offer online sales for trade and consumer markets.
Michael Tomalin, managing director of City Auction Group, said: ‘The strategic planning for the change of use at Rockingham, to create the largest automotive and logistics hub in the Midlands and south region, has enabled us to secure our future for the long term.
‘We now have the opportunity to redevelop the inner paddock and build a dedicated defleet and vehicle remarketing fortress with sizeable scope.
‘The 100-acre premises will provide dual-auction lanes for expansion into dealer group part-exchange and growth in the LCV and asset management sectors.
‘We will also be creating modern new offices, positioning Rockingham as the HQ for our operations in the UK and complementing the Northern Ireland operations in Belfast and Omagh.
‘The opening sale event in January 2019 will be very special for City Auction Group, as we develop into a very credible, professional option to the other remarketing brands.’
It was announced last month that the motor speedway circuit was being sold. Its new owner – Rockingham Automotive LLP (RAL), a UK investment partnership funded by non-UK resident investors – plans to build on Rockingham’s motoring credentials by creating a logistics hub, where its occupiers provide a range of defleet, remarketing, refurbishment and storage services for the automotive industry
Pictured at top: An artist’s impression of the overview above the lounge