GK Group's Seat garage 'sold' to Vertu Motors in £750,000 deal

A CAR dealership in Derby is poised to be sold in a deal worth £750,000.

Vertu Motors has exchanged contracts with the GK Group to buy the Seat dealership, in Locomotive Way, Pride Park.

Vertu owns the Bristol Street Motors Group, a firm which already has a number of dealerships in Derby and Burton.

The deal with Chesterfield-based GK Group, is set to be completed on Monday.

Vertu said that, according to the accounts of the Derby Seat business, last year the dealership achieved a turnover of £7.7m and a pre-tax loss of £28,000.

Robert Forrester, chief executive of Vertu Motors, said: "This new dealership in Derby is excellently located and adds to our brand's presence in the region.

"We have made a substantial number of acquisitions in the last year, which have been integrated into Vertu Motors, and are on track to provide a significant boost to the group's long-term profitability.

"We are delighted to expand further with Seat, which we believe is very well positioned."