FT project Maljee

Top 50 Indie AK Fuel has bought the leaseholds on a portfolio of three petrol filling stations in Liverpool and Manchester.

The three sites – Stanley, Green Energy and Prescot Service Station – came to market through specialist business property adviser Christie & Co around the start of the year.

Previously managed by Mr Maljee, both Stanley and Green Energy Service Stations were offered for sale as vacant forecourts, while Prescot Service Station had been operated as an independently branded forecourt.

Mr Maljee commented: “I am delighted to have leased my three forecourts to a strong operator and would highly recommend James from Christie & Co, who tirelessly pushed this deal to completion despite an uncertain climate. Many thanks to the team and I wish the new owner all the best for the future.”

AK Fuel intends to refurbish and rebrand the sites as modern Texaco-branded forecourts, with two already trading again and the third is due to be completed in the near future.

James Moore-Martin, director in Christie & Co’s retail team, handled the sales and commented: “Notably, this group sale was agreed and then progressed to completion during the Covid-19 lockdown, and included two vacant sites that have been brought back to an operational status.

“This is a clear sign of the buoyant market that we are seeing within the petroleum/convenience sector despite the challenging climate. I wish all the best to both parties.”

Rochdale-based AK Fuel was a new entry to the Top 50 when the latest edition was published in March this year, and was ranked 30 with 10 sites.