Top 50 Indie Penny Petroleum has bought Pensby Service Station in the village of Heswall, in the Wirral, through the specialist business property adviser Christie & Co.
Pensby Service Station comprises a Texaco-branded forecourt, Spar convenience store, and hand car wash situated on a busy main road within the affluent Merseyside village of Heswall. The site trades from 7am to 10pm, seven days a week.
Penny Petroleum’s acquisition of Pensby Service Station takes the group’s portfolio to a total of 53 sites across the north of England and Scotland.
Vicky Hennessy, business development manager at Penny Petroleum, commented: “This site is a great location and complements our portfolio in the North West. We will be partnering with Londis in the shop and have plans to develop the site over the next 12 months.”
James Moore-Martin, associate director at Christie & Co who handled the sale, said: “We’re delighted to have found a new operator for this filling station. There is scope for Penny Petroleum to make immediate improvements, and a refit of the convenience store would help to drive revenues. It will be an excellent addition to its rapidly expanding portfolio.
“This completion comes within quick succession of the nearby Cheshire Service Station in Warrington, which was sold to a growing north-west operator, as their sixth site, and completed within a three-month timescale.
“The level of demand we’re seeing from first time buyers, expanding operators and corporate groups, as well as the speed and volume of transactions, really demonstrates the buoyancy of the market at all levels.”
The leasehold interest of Pensby Service Station was sold in an off-market transaction for an undisclosed sum.