This is a photograph taken at the Exchange Station car park in Manchester before the Manchester to Blackpool Veteran and Vintage Car Run in June 1986.
It's a 1926 Bugatti Type 37, and the programme of the event had this to say about it:
84 1926 Bugatti Type 37
Reg: DS 6894 4 cylinder 1496cc
(Barry Parkinson, Ribchester)
Always nice to see a Bugatti on the Run. This one was imported from America in dismantled condition and has been rebuilt.