Newcomers to the forecourt sector have acquired the leasehold of their first forecourt - Holmfirth Filling Station in West Yorkshire. The sale of the operation to local business owners Rehan Rana & Associates was handled by property adviser, Christie & Co.
The forecourt is located along Huddersfield Road, a mile from Holmfirth town centre, and is a traditional roadside petrol station featuring fuel, a convenience store and a Post Office.
The previous owners, Mr & Mrs Ahmed of Blackburn, Lancashire, wished to return to Lancashire and pursue their other business ventures. They had operated the site for 18 months, having grown the business from a closed site into a successful and profitable operation.
Jon Booth - of Christie & Co’s Leeds office - who handled the sale, said: “New entry to forecourt ownership is often difficult and cost-prohibitive. Due to demand outstripping supply of these kinds of forecourts, the sale went through quickly, achieving its full asking price of £110,000 with fierce competition.
“With fuel sales of circa 1.2 million litres per annum and an enviable annualised turnover of £1,407,966 for year-end July 2015, Holmfirth Filling Station stood out as a premium site to acquire.
“Rehan Rana and his partners have bold plans for increasing the convenience retail offering and site volumes, and we wish them all the very best.”
Rana added: “We have plans to grow the business by introducing a fast-food offering in the very near future, including pizza and burgers, as well as coffee with delicacies. We are also working hard to reduce the prices on the forecourt and keep them in line with our competitors at all times.”
The site will continue to sell Murco-branded fuel, and has a Premier-branded shop.