Specialist business property adviser, Christie & Co has completed on the sales of forecourts sites to two expanding operators.
In Herefordshire, Lomas Kington Service Station in Kington, has been sold to Ascona Group.
The store was rebuilt in 2017 and currently trades under a Spar banner, with the forecourt currently supplied and trading under the Texaco brand. The 1,100sq ft shop offers a range of produce and goods, including confectionery, tobacco, fresh food and food to go.
Following 25 years of ownership, Sudhir Ghelani decided to sell the store in order to retire and commented: “I instructed Stephen from Christie & Co to sell my site because it was the right time after 25 years of operating it. I was delighted with the recent completion with Ascona Retail Group. Stephen has been my main point of contact and has worked endlessly to ensure the sale was completed professionally and smoothly. I would 100% recommend working with Steve.”
Duncan Morris, property director at Ascona Group, commented: “Ascona are probably the fastest growing group in the sector having gone from two sites to nine in the space of 15 months. It’s an exciting time for all involved in the business as site numbers are set to grow by at least a further five sites in the next 60 days, with much more in the pipeline.
“Ascona’s management team has extensive experience in the sector having both group dealer and oil company backgrounds. Ascona plans to create a national network of sites with a focus on strong brand affiliations, an all-round value offer, and high standards of presentation and customer service. Lomas Kington fits perfectly into this plan as the site already has a strong local reputation for value and customer service. Ascona will continue to develop this with further branding partnerships and a strengthened customer offer."
Stephen Bell, senior business agent at Christie & Co, commented: “The filling station market remains buoyant with both larger and smaller independent groups looking to acquire in the West Midlands. We saw a huge amount of interest in Lomas Kington Service Station from both individual buyers and ‘Top 50’ independents. Although demand remains strong for sites in all localities, both the rural location and limited competition were a huge selling point in this sale.”
Lomas Kington Service Station was sold off an asking price of £1,500,000 for the freehold interest.
And in Manchester, the sale of Alkrington Service Station in Middleton, Greater Manchester, has been completed to Applegreen
Located on Manchester New Road, a busy A-road linking the community of Middleton with Manchester City Centre, Alkrington Service Station comprises a BP-branded forecourt and an attached convenience store trading under the Best One Xpress banner.
Previous owners, the Roked family, who also own another filling station within Greater Manchester, sought a sale after three decades of ownership in order to focus on other business interests outside of the petroleum sector.
James Moore-Martin, associate director at Christie & Co, handled the sale and commented: “We are delighted to have successfully brokered the sale of Alkrington Service Station on a new 20-year lease. As a blue-chip operator, Applegreen will be in a position to modernise and transform the site to serve the needs of both local residents and commuters.”