Fast-growing Top 50 Indie NTS Retail has purchased its 15th site in a deal arranged for the vendor by specialist business property adviser Christie & Co.
Oldbury Hill Garage in Didmarton, Gloucestershire, has been owned and operated by the Butler family since 1973, and comprises a forecourt, a convenience store and an owners’ flat above.
The store was refurbished in 1985, and the forecourt completed its refurbishment in 1992. The forecourt was supplied by BP with an independent shop and previously operated an MOT and car service centre, but this was wound down and recently closed.
After an extensive marketing campaign that attracted multiple bids, the successful buyer was NTS Retail, which this year, moved from 34th to 16th place in Forecourt Trader’s Top 50 Indie retailer list.
The owners, Mr and Mrs Butler, commented: “After operating and living at the forecourt for over 47 years, it was time for us and our family to hand the site to a new operator. David Morris of Christie & Co helped us throughout the process to ensure that we achieved a sale. We are delighted that NTS Retail were the successful buyers and wish them well with the plans that they have for the site.”
The new buyers are planning to completely refurbish the convenience store, which will be converted to the Londis symbol group. This will allow the site to introduce new services including the sale of alcohol. The site will continue to be supplied by BP.
David Morris, director (retail) at Christie & Co, commented: “Oldbury Hill Garage was a great opportunity for a purchaser to acquire a site that has huge potential. The appetite for forecourts remains strong providing they are priced correctly. NTS Retail already has big plans to develop the site in the coming months. We wish the Butlers all the best for the future.”
Nalliah Thayaparan, owner of NTS Retail, said: “We are delighted with this acquisition which takes our group to 15 sites across England and Wales and are looking to expand our group further and have big plans for Oldbury Hill Garage. We are keen to continue to support the local community and hope the new Londis shop will provide a wider range of product with good offers.”