Euro Garages has acquired another forecourt in the south west - Churcham Garage, Gloucester.
Specialist business property adviser, Christie & Co brokered the sale of the site, an established forecourt business in Churcham, Gloucester on behalf of Jamshad Karupamveetil of Milecross Ltd.
Jamshad acquired the petrol station, which at the time was closed, approximately five years ago, identifying its potential on the busy A40. The petrol station was Esso branded with an independent store.
Identifying the petrol station’s further potential, Euro Garages successfully acquired the leasehold interest off an asking price of £75,000 for the leasehold premium.
Euro Garages has already opened Churcham Garage following a rebrand of the canopy and shop. This follows a number of recent acquisitions by Euro Garages including the former High Noon Stores petrol stations across the region which the company acquired through Christie & Co earlier this year.
Dave Morris, senior agent at Christie & Co said: “Churcham Garage is in a good location on the busy A40 linking Gloucester to Ross-On-Wye. With the potential to introduce hot food to the site it fits well with Euro Garages’ model. The forecourt market remains buoyant in the South West with Christie & Co having already completed on 10 forecourt transactions in 2017, and this activity looks set to continue with enquiry levels at a 10 year high.”
Zuber Issa from Euro Garages commented: “Churcham Garage is in a great location on the A40 close to Gloucester, filling the gap between our sites at Ross-on-Wye and Tuffley, Gloucester. We are delighted to add Churcham Garage to our growing portfolio and are keen to acquire more sites in 2017 as part of our carefully planned expansion.”