Staffordshire-based Spot Service Stations has sold seven of its eight sites to K&F Limited, a company run by Kamran and Farooq Khan. The two men are understood to be new to forecourt retailing.
The seven sites are in Burslem, Buxton, Endon, Fenton, Loggerheads, Longton and Bentilee. They became available in the summer through Christie & Co as operational, free-of-tie opportunities. Asking prices ranged from £90,000 to £150,000.
Spot Service Stations, however, retains the freehold interest on all seven sites.
Matthew Grace from the Birmingham office of Christie & Co described the disposal as a ’rare opportunity to purchase an established and successful chain of forecourts within close proximity of each other’. Spot Service Stations has been trading since 1992. Grace added: "Our marketing campaign generated a high level of interest from both multiple and independent operators alike."
Spot Service Stations featured in Forecourt Trader’s Top Indies 2006 at number 25, when it had nine sites, a fuel volume of 26mlpa and turnover of £22.62m.
A spokeswoman for K&F Ltd told Forecourt Trader that the seven newly-acquired forecourts would continue to trade as Spot Service Stations for the time being.
- Christie & Co’s Winchester office recently sold Redpost Service Station in Winterborne Zelston, Dorset. The seller was Anil Thakkar, who has retired, and the buyer was a Mr Kirupanathan from Purley, Surrey.