A property specialist is predicting prices for forecourt sites are likely to rise in the light of its latest deal in the sector.
The Esso petrol station on Townsend Road in Minehead, Somerset, has been sold by property and planning consultants Rapleys.
The site was deemed surplus to requirements by Top 50 Indie Rontec, which instructed Rapleys to act on its behalf in the disposal. The site was sold for an undisclosed sum to an experienced operator who was looking to expand his estate.
Mark Frostick of Rapleys commented: “We had a number of bids for the site and we exceeded our expectations in terms of value. However, there remains a lack of good quality stock on the market and this is likely to cause upwards pressure on values going forward.”
Rontec was ranked third in the most recent Forecourt Trader Top 50 Indies published in March with 210 sites, and since then it has sold 15 sites to Asda and bought 19 as Esso completed the sell-off of its estate.