Sewell on the go has sold its Wyton Bar filling station near Hull, East Yorkshire nine months after it put the site on the market to create capital to re-invest in other parts of the business.
Patrick Sewell, managing director of the firm, told Forecourt Trader the decision to sell we led by a desire to bolster the company’s portfolio, explaining: “We’ve had 13 sites for a number of years, and this was a consolidation. We’re trying to be very good at what we do, focussing on a tight geographical area.”
He added that Sewell on the go is comfortable having a dozen sites on its books, and the company is looking into diversification of its business: “I’m open minded, and want to make sure we have different strings to our bow,” adding that growth in valeting and food service operations are on his radar.
The buyer of Wyton Bar was Arul Palaniappan, director at SRJ Convenience, a firm with around 30 convenience and forecourt sites. Sewell says Palaniappan is “a very positive, proactive individual who’s rapidly growing his sites”, adding he was “confident that the new owner will continue to operate high standards and enhance the site into the future”.
Andrew Birnie, the Christie & Co director who brokered the deal, echoed Sewell’s sentiments, saying the sale would allow the firm’s remaining sites to be “strengthened”, while adding that sites like Wyton Bar remain “in very high demand” both from new entrants to the sector, and from small groups looking to grow their portfolios.
While the selling price has not been disclosed, the forecourt was offered for £1.3m in June 2024, with the sale agreed in principle back in August. The 1mlpa boasted shop sales of just over £750k in 2023, posting a gross profit of a little over £416,000.
