The race circuit, at Corby in Northamptonshire, will stage corporate auction events on behalf of major contract hire and leasing companies, financial institutions, daily rental companies and manufacturers.
The new venture will be supported by defleet facilities including vehicle storage, handover pods, plus refurbishment and inspection areas.
Michael Tomalin, managing director of City Auction Group, said: ‘The potential opportunity is immense with more than 100 acres of hardstanding ground at a world-class, high-profile motor-racing venue, offering tailor-made facilities.
‘These include secure vehicle storage, inspection, enhanced valeting, refurbishment and handover pods supported by a state-of-the-art automotive remarketing solution within the prestigious complex.
‘The venue is ideally located within one hour of cities such as Coventry, Birmingham and Cambridge with a new road and rail infrastructure enabling swift access within 60 minutes from London St Pancras.
‘With major FN50 listing corporate vendors already committed to the specialist sale events, we look forward to an exciting future at one of the UK’s most dynamic, flexible and eye-catching venues.’