NTS Retail Ltd has recently completed the acquisition of Maynes Garage in Illogan Highway, Redruth, Cornwall.
The site had been operated as a Vauxhall car dealership and petrol filling by the same family for a number of generations, but was offered to the market to allow the current owners to concentrate on their property development projects.
Following this acquisition of the business, NTS retail will be making a number of significant improvements including extending the shop into the car showroom to offer a full convenience retail offer, with the workshop being retained and operated by the existing manager.
Paul Heather, director at Charles Darrow, who acted on behalf of the owners, brothers Stuart and Guy Bennett said: “As with all petrol filling station sales that we handle, they generate a great deal of competitive interest and Maynes Garage was no exception with multiple offers being received from the outset. This purchase will further strengthen NTS Retail’s portfolio in the south west.
“NTS Retail were looking to increase their presence in the south west and this petrol filling station proved the perfect purchase for them.”
Mark Frostick, senior associate at Rapleys LLP who advised NTS Retail Ltd, added: “This is another acquisition for NTS Retail and shows demand remains strong for good freehold sites throughout the UK. We expect this trend to continue with supply being restricted.”
NTS Retail Ltd now have nine sites and one convenience store located in the South West and East Anglia and are continuing to look for suitable sites to expand their network.