Top 50 Indie Plaistow Broadway Filling Stations (PBFS) is increasing its foothold in the South West of England by purchasing Greenway Road Filling Station in Taunton, Somerset.
It is the third site in the region for the Essex-based operator which now has seven forecourts, and an ambition to acquire more in the area.
This latest acquisition on the A358, the main arterial road heading northwest to the Somerset coast, has great potential, subject to planning permission, to introduce a large convenience store in an existing 2,500sq ft workshop.
So says WT Estates managing director, William Trott, the real estate agent who managed the sale. He suggests that the unbranded 600sq ft store currently in situ on the quarter of an acre site could be moved to make room for more customer and staff parking. There is also space to add jet washing, Trott says.
The Texaco forecourt – which has a fuel volume of over 4mlpa, dispensed from 16 nozzles on four islands – fits well with the PBFS portfolio. Over the past 12 months it switched its petrol station estate solely to the Texaco brand.
Also, owners Liam and Daniel Panormo have operated another site in Taunton – Wellington Road Service Station – which they also purchased from Trott two years ago and where they are now planning to add an Adriateh jet wash unit. This site came after the brothers acquired Tower Filling Station in Seaton, Devon, the year before.
A big attraction of Greenway Road Filling Station is its potential to build a strong grocery business, with boarding school accommodation nearby, as well as it benefiting from an affluent neighbourhood, says Trott.
The previous owners, siblings Clive and David Merrifeld, wanted to retire from petrol retailing to concentrate on their car dealership and property businesses. The forecourt has been owned by their family for 61 years, and was originally set up by their father.
The Merrifield family say it was a tough decision to sell, but right for the business, and are delighted with the outcome of what turned out to be ”a quick process”.
They add: “Also we would like to say a thank you to Will Trott of WT Estates for all the support over the last decade, and for always being on hand with any advice we needed. We sincerely wish all the best to PBFS in the future and the continuing success of their investment.”
Daniel and Liam Panormo add: “We are delighted to have acquired Greenway Road Filling Station as it marks our continued investment to our business and the local area of Somerset.
“This is a fantastic addition to our already growing estate and we look forward to welcoming customers to our business. This is the third forecourt we have purchased through WT Estates in so many years and again we are delighted with the opportunity we have received and the service provided by them.”
