Citygate is planning to develop new Skoda and Seat dealerships in Slough after acquiring Jardine Motors Group's former Jaguar Land Rover site on Bath Road.
The property consists of a 24,000 sq ft showroom on a 1.32 acre site and will be extensively refurbished by its new owners.
Jardine operated the site previously and has now moved its Jaguar Land Rover dealership to a larger 40,000 sq ft purpose-built premises on Leigh Road, Slough.
Rapleys oversaw the sale of the site to Citygate in a move for the property which it said had "generated a large amount of interest from existing and alternative business uses and for redevelopment".
After a second round of bidding the property was sold for “well in excess of the quoting price of £5 million”, a statement from Rapleys said.
Daniel Cook, partner at Rapleys, said: “We anticipated strong demand for this property and given the presence of many automotive brands in the area we suspected that a dealer group might be the ultimate purchaser.
“This clearly shows that in spite of negative headlines about the automotive market in the press, there remains a market for prime freeholds from the sector,” added Mark Frostick, senior associate at Rapleys.