Euro Garages acquires second forecourt group in 2017
Euro Garages has acquired of a group of four leasehold petrol forecourt sites in the South West and Wales that were operated by High Noon Stores.
The move follows Euro Garages’ purchase of four leasehold forecourts that were sold in January on behalf of High Noon Stores.
Both groups came to the market in quick succession with the first group initially sold through the administrator of High Noon, Greg Palfrey at Smith & Williamson.
Euro Garages has acquired both groups for an undisclosed sum. It plans to re-open the sites within the next few weeks after refurbishment and re-imaging.
Dave Morris of Christie & Co, which facilated completion of the deals, said: “It has been a very busy start to 2017 with interest exceeding expectation on both groups of forecourts. We expect this level of interest in the sector to continue during 2017 with the forecourt market remaining buoyant.”
Zuber Issa, chief executive of Euro Garages, added: “These acquisitions follow a carefully planned growth strategy and supplement our existing international portfolio well. Since the beginning of February alone, we have completed the acquisitions of the UK-wide Little Chef site portfolio and the former High Noon petrol forecourts. Each of these deals were handled entirely in-house, demonstrating the quality of our team and our ability to bring deals to a close very quickly.”
