Freehold of service station leased by Rontec sold for £3.9m

The Automotive Division of estate agents Knight Frank in Bristol has sold the freehold of a service station leased by Top 50 Indie Rontec for £3.9m.

The Esso-branded service station at Hengrove Way, in Bristol, is one of around 50 Rontec sites where it has a Morrisons Daily convenience store.

Acting on behalf of vendor Dwyer Property, Knight Frank sold the freehold of the 2,962sq ft premises to a private buyer in a deal representing a net initial yield of 4.85%.

Adam Chapman, partner in the Automotive Division at Knight Frank, said: “The site has an unexpired occupier lease of 20 years at a current annual rental income of £202,000.”