Initial work on the cleared site, which was formally owned by Medway Council, is expected to begin shortly.
Gilbran secured planning permission for the development of an 18,300 sq ft dealership, which will offer sales, aftersales and used car facilities.
Gilbran is currently in negotiations with a number of dealer groups and car manufacturers with a view to them leasing the completed dealership development.
Nigel Smith, managing director of Gilbran, said: "We are delighted to have acquired this key site which will provide a flagship retail location within the Medway Towns area.
"We are in advanced discussions with a number of motor retail groups regarding leasing the site and will work with the successful tenant to build the premises to meet their precise requirements."