The lease of Broxbourne Service Station in Broxbourne, Hertfordshire, has been sold in a deal handled by specialist business property adviser Christie & Co.
Comprising a service station and convenience store, the business is in a residential area off the busy on the High Road Wormley A117, between Chestnut and Broxbourne, just north of junction 25 of the M25.
The Premier-branded convenience store has an off licence and includes a free-standing gondola, two chillers, a ’Bake ’n’ Bite’ bakery area, coffee machine, walls ice cream freezer and sales counter.
The Esso-branded forecourt has four fuel islands, combining 15 nozzles over five fuel pumps. The pumps dispense unleaded and diesel, as well as red diesel, making it popular with agricultural vehicles.
The new leasehold has been secured by experienced retail operator Prem Uthayakumaran. Prem plans to introduce a wider product range and food-to-go offering.
He commented: “I am pleased Christie & Co assisted our first purchase as an independent forecourt operator. We have plenty of knowledge in retail and believe forecourts present the best value to grow in the market. Broxbourne Service Station is a great opportunity and we look forward to servicing the local community and passing visitors.”
Mark Kaluza, retail director at Christie & Co, handled the sale and added: “The market is very buoyant in light of the global outbreak of COVID-19, and showing lots of demand for freehold or leasehold sites, particularly from commission operators looking to acquire their first site. It has become apparent amid the current situation that the convenience network is essential in providing local communities with food and medicine and we expect this demand to continue driving the market in the coming months.”
The former owners, Jude Perera and Mukund Dhirubhai, who were selling to retire from the sector, said: “We recently leased our petrol filling station and convenience store through Christie & Co and we highly recommend them. They were efficient, professional and excellent at communicating with us on every aspect of the process. In particular, Mark was always helpful if we had any questions or concerns and they got back to us with answers quickly.”
Broxbourne Service Station was sold off an asking price of £150,000 for the leasehold.