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.”