The second of the two sites EET Retail rebranded in a deal with Top 50 Indie Highway Stops earlier this year, is now up for sale.
Essar Oakham in Rutland is on the market for offers in the region of £2.1m.
Oakham is described as a popular market town and the Essar forecourt is the only petrol station in the town centre.
The property comprises the Essar-branded forecourt, covered by a 3.5m high canopy with pumps arranged in a three-island layout, with 14 in total offering regular and premium unleaded and diesel. There is also a jet wash and Amazon lockers.
There is a 742sq ft Londis shop which is described as “well-stocked with a range of convenience goods” and has a Costa Express machine, lottery and off licence.
The site trades 24 hours a day, seven days a week.
The property was let to EET Retail for 20 years from March 3, 2024. There is a mutual break clause in March 2039, providing approximately 14.75 years of certain tenancy. The initial annual rent is £175,000, which is subject to annual increases in line with the CPI, with a collar of 1% and a cap of 3%. Furthermore, the lease includes a five-yearly market rent review provision on an upwards only basis. A copy of the lease is available upon request.
The property is on the market with the Prideview Group.
EET Retail, a division of EET Fuels, invested £50,000 in relaunching the two Highway Stops forecourts – Spalding and Oakham in the East Midlands – with Essar branding as part of its ambitious new leasing deal. The deal pays landlords a monthly rent, enabling forecourt operators to keep the investment in their portfolio without having to worry about managing sites or developing the business.
