Top 50 Indie MPK Garages has acquired a service station in Nottingham just weeks after arranging a £14m finance package to fund expansion.
Walkers Garage consists of a petrol filling station and a Londis convenience store about four miles east of Nottingham on one of the main roads into the city centre.
It had been under the same ownership for around 50 years and was marketed by specialist business property adviser Christie & Co.
David Branch, business agent at Christie & Co, commented: “Walker’s Garage had been unsuccessfully marketed by another agent for four years before the Nottingham office of Christie & Co were appointed to market a new lease for sale.
“MPK recognised the latent potential in the business, and has now bought the site into its already extensive operation.
Duncan Morris, retail services manager at MPK, added: “We are working closely with Christie & Co to find more sites just like this one where we can add value. We intend to modernise the store and secure a new fuel supply agreement, all of which should help increase volume and sales.”
Leicester-headquartered MPK is currently ranked tenth in the Top 50 Indies and when it secured the funding package managing director Paul Kershaw said it was aiming to add up to 20 sites over the next two years.