City Auction Group sold 450 cars in just three hours at its refurbished Rockingham site, which now features two lanes.

More than £2.75 million of end of term contract and lease vehicles from major vendors passed through the halls.

The sale achieved more than 80% conversion at an average value of £7,513.

“The atmosphere in the auction halls at the inaugural corporate fleet and LCV auction was electric and massively different to the traditional single lane sale events,” said Michael Tomalin, managing director at City Auction Group.

“With the recent purchase of the complete Rockingham facility by our business partner, we have introduced state of the art vehicle preparation bays for the inspection, valet, imagery and tactical refurbishment of vehicles to provide our corporate clients with a world class service.

“We have huge aspirations at Rockingham to defleet and remarketing over 100,000 vehicles per annum by 2022 and with over 250 acres of prime commercial coverage, we believe Rockingham will become a major automotive defleet and logistics hub.”

The next corporate sale event at Rockingham takes place on Tuesday, January 29.