Top 50 Indie Platinum Retail has added to its estate with the purchase of a high-turnover site in South Yorkshire.
Specialist business property advisor, Christie & Co, brokered the sale of Dearnside Motor Co in Rotherham. Instructed last November, the company was asked to secure a ’premium’ figure for the business which was being sold as the owner wished to retire.
Located on the A635 between Barnsley and Doncaster, this traditional high-volume filling station was trading as Texaco with a Costcutter shop, and sold 6mlpa with shop sales of about £30,000 per week.
Following a confidential marketing campaign, Christie & Co approached a number of forecourt operators and generated a number of offers.Due to the sensitive nature of the sale, all interested parties, were asked to register their interest and agree to the confidentiality.
The business was sold to Platinum Retail currently positioned at number 12 in the Forecourt Trader Top 50 Indies list, in February 2016 for a substantial but undisclosed amount, with completion taking place on August 12.
Jon Booth, business agent at Christie & Co’s Leeds office, said: "Sites with this level of volume remain scarce in the current market. From the point of view of the buyers, this is an excellent addition to Platinum’s expanding portfolio."