Stephen Lamb, Gordon Lamb Group chief executive, said: “At a time when margins are tight in the motor industry generally, it will allow us to significantly reduce our fixed operating costs and maximise the profitability of our motor trade businesses.
“We have also used the opportunity to terminate our sales contract with Lotus, but will remain as an authorised repairer for the foreseeable future.”
Lamb said the lease back of the Sheffield site will allow preparations for relocation to a site in South West Sheffield, which is currently rented by Gilder Audi, who will be leaving at a mutually agreed time.
The Gordon Lamb Group will now represent Land Rover, Honda, Toyota, Renault, Nissan, Skoda and Mitsubishi in Chesterfield plus Saab, Mitsubishi and Toyota in Sheffield. The group said its annual turnover will exceed £130 million.