City Auction Group to branch out in UK and overseas
Remarketing specialist City Auction Group is to further develop its UK facilities at Rockingham “into a dedicated defleet and vehicle remarketing fortress” as it also explores plans to branch into Europe.
The auction firm runs two major sites at Rockingham and Belfast as well as 10 recently introduced nationwide defleet centres, and has now announced plans to position Rockingham as the HQ for its operations in the UK, complementing the Northern Ireland operations.
It follows the announcement that the former Rockingham Motor Speedway in Corby, Northamptonshire, is to stop circuit activities from the end of the year as it focuses on becoming a “leading automotive logistics hub”.
Managing director Michael Tomalin has now said that the company will redevelop and restructure the 250-acre site at Rockingham and also upgrade the auction halls and introduce new HQ offices in January 2019. 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.
Additional services will include vehicle inspection, storage and refinishing opportunities. The auction firm added that it plans to develop the brand into new regions, with talks already taking place to potentially enter Europe with strategic partner hubs and offer online sale solutions, for both trade and consumer markets.
Tomalin said: “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.”