The site of a former Volvo dealership in Nottingham will soon re-open as a multi-franchise car showroom following a deal spearheaded by commercial property agents Salloway.
The site on Nuthall Road, which is owned by Speeds, has been empty since the summer after Volvo relocated to premises on Valley Road.
Salloway Director Marc Ballard explained: "Whilst it remains a tough business environment, in recent months we have seen a significant increase in demand for "roadside" business premises such as trade counters and motor vehicle showrooms."
The new tenants, Vertu Motors, are planning to open a Bristol Street Motors branded showroom early in 2011 after signing a 15-year agreement, which also saw law firm Fraser Brown acting on behalf of Speeds.
Marc continued: "The length of this agreement and the comparatively quick turnaround reflects the confidence that many businesses continue to have in Nottingham. To retain this, it is important that take up of high profile sites in the city continues."
The deal is the first for Salloway's new Nottingham office which is located just off The Ropewalk and Marc added: "We are obviously pleased to have concluded this transaction and there are others in the pipeline which will see the office get off to a flying start."
Martin Speed, Managing Director of Speeds, added: "I am delighted that we have been able to let these facilities and, given the climate, the deal has been completed very rapidly and at strong values, which is a credit to our professional advisors".