A petrol filling station owned by the same family for more than 50 years has been sold to LSA Oil, after offers were invited at an asking price of £1.65 million.
The Gulf petrol filling station and adjoining Bargain Booze store in Ramsgate, Kent, was sold by the Morrison family, who have decided to sell in order to pursue other interests.
The site, situated on a busy main high street in St Lawrence, Ramsgate, comprises a Gulf petrol filling station with an on-site 24-hour Bargain Booze off-licence and convenience store which sells discounted beer, wine and spirits, along with some snacks and groceries.
The location of the site lends itself to a heavy footfall and historically healthy petroleum sales, and thus is an excellent opportunity for a new owner to continue to grow the business and build on the established trade, according to the details released by Christie & Co.
A representative of LSA Oil Ltd, the company that purchased the site through Christie & Co, said: “We are very pleased with the acquisition of the St Lawrence Ramsgate outlet in Kent, which is needed for LSA Oil’s synergy to work within our group, increasing our total outlets to six. The St Lawrence Ramsgate outlet is in a fabulous location and we have already made arrangements to bring in a leading branded outlet with a fresh refitted/refurbished facility to provide better quality and a wider range of products and services at affordable prices to the local community and commuters in Ramsgate.”
Steve Rodell, managing director of Retail at Christie & Co, commented: “We said at the start of the year that petrol stations will remain relevant for the foreseeable future. The demand we continue to experience for well-located properties like this illustrates this point clearly. A number of deals also remain on track despite the Covid-19 ‘lockdown’ and we look forward to being able to move freely again”.