Pair of Mid-Wales petrol filling stations sold to Ascona Group
Specialist business property adviser, Christie & Co has completed on the sale of Ridgebourne Service Station and Crossgates Service Station, a pair of petrol forecourts situated close to Llandrindod Wells, a town in Powys, Mid Wales.
Previously managed by Llink Group Limited, the portfolio comprising two freehold sites, was brought to market with Christie & Co in February 2020 and generated a great deal of interest amongst prospective buyers.
Following a very competitive bidding process that attracted multiple bids and closed just before the nationwide COVID-19 lockdown in March, the forecourts have been successfully acquired by expanding independent operator and Top 50 Indie, Ascona Group.
The company has rapidly expanded over the last two years, purchasing a number of their new portfolio additions through Christie & Co’s retail team throughout 2019, including the Cornwall Garage Group and Heritage Automotive portfolios. This latest acquisition takes them to 44 operational sites.
Jamie Williams, Business Agent in Christie & Co’s Retail team brokered the sale and adds, “Christie & Co has witnessed an increased demand for petrol filling stations and a 77% increase in new retail buyer registrations on Christie.com, with 36% of those specifically seeking petrol filling stations. Both sites were marketed confidentially and sold in excess of the asking price. An indicator of the current buoyancy within the market.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agent:
Jamie Williams, Business Agent
P: +44 (0) 773 260 1749 or E: jamie.williams@christie.com
