Specialist business property advisor, Christie & Co has completed on the freehold sale of Rowborough Service Station, a well-positioned Shell-branded forecourt located on the busy A429 between Moreton in Marsh and Shipston on Stour in the Cotswolds.
Purchased by the previous owner, John Eaden in March 2015 as a one-off investment, the 0.4-acre plot came to market early in 2020 in order for Mr Eaden to retire.
The sales process faced many hurdles, as one week before launching to market confidentially, the store was the victim of a ram-raid burglary. Further delays ensued once the COVID-19 outbreak forced the nation into lockdown in March. Yet despite these setbacks, Jamie Williams, Business Agent in Christie & Co’s Retail team led a successful sales process and was able to secure a buyer and achieve a good sales value in the circumstances by year end.
Mr Eaden comments, “This has been a traumatic and frustrating experience for all concerned but Christie & Co and the legal teams have worked together to achieve a positive result in the end. The new owner is an experienced operator and is already building a store extension. I wish him well and I’m sure he will make a great success of a filling station in a superb location.”
Jamie Williams adds, “Following the ram-raid, the site was very badly damaged. Difficulties around lending due to the COVID-19 pandemic created additional challenges when negotiating with prospective buyers. We are delighted however that we were able to utilise out network to find a buyer and finalise the sale before the end of the year.”
The service station has been purchased by Mr Sritharan Manickavasagan who owns AKV Garages (UK) Limited, one of Forecourt Trader‘s Top 50 Indies.