UK car supermarket Motorpoint Group has completed the acquisition of a site at Oldbury near Birmingham from Lloyd’s fleet arm Lex Autolease for an undisclosed amount.

According to the company the site – which is approximately five acres – will stock 500 nearly new vehicles from 30 different manufacturers, and will have access to Motorpoint’s further 5,500 car stock.

This acquisition complements the Group’s existing West Midlands site at Aston Cross and brings its total number of sites to 11.

Mark Carpenter, chief executive of Motorpoint, said: "We are delighted to have completed this acquisition as the Motorpoint brand has proved extremely popular across the West Midlands since we launched our Birmingham site three years ago. The new site will give even more people the opportunity to experience our compelling customer proposition, combining choice, value and service."

The site is expected to be operational in July 2016.