Demand for forecourts remains strong

The company says demand for forecourts has remained consistent throughout the first half of 2021, particularly for opportunities across England’s North East and North West regions, where better value and business growth potential is perceived among investors.

Since January 2021, the company’s retail team has sold 23 forecourts across the UK and the level of inquiries it continues to receive “outweighs the number of sites available for sale”.

In the North West, the year started with the leasehold sale of Partington Service Station, a previously Essar-branded forecourt in the bustling town of Partington, Greater Manchester, to an independent first-time buyer. The new leaseholder, Saqib Javaid, is rebranding the forecourt to the Murco brand and plans on rebranding the convenience store to Londis.

During February, the team completed the sale of Project Ranger a portfolio of seven petrol filling stations operated by Marla and Gus Saggu to Certas Energy UK. The portfolio of forecourts, located across the North East of England, attracted multiple offers, not only for individual sites but also on a group basis.

Chrisite & Co said: “A number of growing multiple operators have similarly turned to the north to carry out their expansion plans over the last few months, with a multitude of deals completing to this type of buyer, including Carmel Road Service Station in Darlington and Loggerheads Garage, in Loggerheads, North Wales, of which both were on a freehold basis.

“We also saw Broadway Service Station in Manchester, Ouston Service Station in Durham and Morfa Garage in Pwllheli, North Wales which all completed on new long-term leases to growing multiple operators.”