Gerald Ronson is planning to expand his network by bidding for a collection of Welcome Break motorway service stations put up for sale by property tycoon Robert Tchenguiz.
According to the Sunday Times, Ronson’s Snax 24-led consortium Rontec Investments has approached Tchenguiz’s advisors expressing an interest in nine sites. Other property companies, including Telereal Trillium, are also understood to be in the running.
Tchenguiz bought the Welcome Break freeholds in 2004 and they were valued at over £365m in 2007. The sale price is now understood to be around £300m.
Rontec Investments declined to comment.