Top 50 Indie Penny Petroleum Group has acquired two sites in separate deals through property adviser Christie & Co for undisclosed prices. Fencehouses Service Station in Houghton Le Spring, County Durham, has an unbranded forecourt shop and additional rental income from two tenants, a long-standing car sales business and a pizza takeaway firm.
David Penny of Penny Petroleum Group commented: "We are very pleased to welcome this site on board, we believe it has great potential and will fit well within Penny Petroleum. We already have plans in place that will see us add more services, invest in new equipment and extend product ranges. We are looking forward to seeing this site develop and grow."
Andrew Birnie, director at Christie & Co’s Newcastle office who handled the transaction, said: "The previous owner wanted to sell in order to retire from petrol retailing and the site offered huge growth potential."