Investors Kames Capital has acquired the Peugeot/Kia dealership, on Pinchington Lane in Newbury, for £2.6 million with the help of Colliers.

The 10,013 sq ft premises was sold by Marshall Roebuck Property.

The property was leased to Snows Business Holdings Limited with over 19 years unexpired at a rental of £150,000 per annum.

The one-acre site, within Newbury Motor Park, is divided into two sites, one of which comprises the Peugeot facility providing showroom, offices, ancillary, workshop and parts department, while the second site houses a Kia “Cube” showroom, along with associated used car display and car parking.

Located approximately three miles south east of Newbury town centre, other brands represented within the park include Honda, Ford, Volkswagen, Volvo, and Nissan.

Anthony Keohane, director in the automotive and roadside team at Colliers International, said: “This opportunity provided long term income with guaranteed rental growth secured against a strong covenant.

“The buildings were constructed to the latest manufacturer standards and sit within an established motor park.”

Colliers International advised the purchaser, Kames Capital. The vendor, Marshall Roebuck Property Ltd, was advised by APC.