An experienced pair of convenience retailers have bought their first petrol filling station and have plans for a significant development of the forecourt and its store.
The new owners, Dasitha (Das) Gamage and Janaka Watowita, say they were drawn to the opportunity due to the large plot size and development potential.
Specialist business property adviser Christie & Co has sold Ross Road Garage in Huntley, Gloucester, with funding for the new owners’ purchase secured through Christie Finance.
Located on the A40, just outside of Huntley, Ross Road Garage benefits from a high level of passing traffic, while the surrounding villages provide a good residential catchment area.
Christie & Co reports that with a variety of other businesses also close by, including a pub, butchers, hairdressers and Huntley village hall, there is significant footfall potential for the business.
The new owners commented: “We have many years of experience operating retail stores in the UK and we were keeping an eye out for an opportunity to acquire our first freehold forecourt business for over 10 years. Support and guidance is invaluable for an SME such as us, and our experience with both Christie & Co and Christie Finance was very positive.
“We have several plans to develop this handy site into a modern-day forecourt and convenience store and we are excited at the prospect of working with one of the national fuel brands and symbol groups to bring these plans to life.”
The previous owner, Stewart Brown said: “I am delighted to have completed the sale and wish the new owners all the best with the site. Thank you to Christie & Co for their help with brokering the deal.”
Joe Brayne, business agent – retail at Christie & Co, handled the sale and added: “This is a great example of our ability to assist with all aspects of a deal, including funding for the purchase. Stewart and Das were great to work with and I wish them all the best in the future.”
Funding for Dasitha and Janaka’s purchase was secured through retail finance specialist, Jimmy Johns, director at Christie & Co, who said: “We’re delighted to have estsblished a working relationship with Jets Trading Limited, with this deal being the first of two freehold acquisitions that Christie Finance has supported for the growing company, the second due to complete later next month. It is always a challenge to fund multiple first-time purchases so we had to work closely with Das and Janaka to secure the right supportive lender. I wish them all the best as they continue to grow.”
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