Craven Park Service Station, a busy Total Energies petrol station in north-west London, has changed hands after more than 30 years of being owned by a trio of directors.
Rohitkumar Patel, Parimal Patel and Yogesh Chag, who extensively redeveloped the Church Road, Harlesden site in 2002, said that the timing to sell “was right for all partners”. They are leaving the industry to either focus on other business interests or retire.
The compact site, which has a Londis convenience store, and valeting services, was on the market at a guide price of £2,750,000. It has been acquired by a family in Dubai looking to enter new markets.
The family was represented by real estate management company Lornham, whose services include property acquisition.
Its founding director Dominic Wertheimer says that he has known the family for some time, having met them on trips to Dubai. “They were looking to diversify their property holdings, so we identified this acquisition opportunity and are currently looking for more commercial assets to meet the criteria of their long-term strategy,” he says.
Oliver Guppy, a business agent at property specialist Christie & Co who managed the sale, says there were many bidders.
“We received a lot of interest, reflecting how active the market currently is, from both established forecourt operators and new-to-industry names, and obtained multiple offers.”
He adds: “The buyer completed on the purchase within four months, and I would like to wish them every success with the new site. I would also like to thank the former owners for entrusting me with the sale of Craven Park and wish them good luck in their next endeavours.”
Guppy says the interest in Craven Park Service Station shows how active the forecourt market is.
“This reiterates the importance of running a full marketing process to achieve the best outcome for a sale,” he stresses. ”We have multiple bidders who were interested in this opportunity but were unsuccessful and are still actively looking for new sites to buy, so if you are thinking of selling or wish to have a confidential chat then please do contact us.”
