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Herts service station changes hands

Broxbourne Service Station in Broxbourne, a commuter town in Hertfordshire, has been sold through Christie & Co, off an asking price of £150k for the leasehold.

Comprising a service station and convenience store, the business benefits from its prominent trading location in a residential area off the busy on the High Road Wormley A117, between Chestnut and Broxbourne, just north of junction 25 of the M25, Greater London.

The Premier-branded convenience store is well-appointed, with modern fixtures, a freestanding gondola, two chillers, a 'Bake 'n' Bite' bakery area, coffee machine, walls ice cream freezer and sales counter. It offers customers an array of goods, off-licence, coffee and bakery goods.

The forecourt has four fuel islands, combining 15 nozzles over five fuel pumps. The pumps dispense unleaded and diesel fuels, with the additional benefit of red diesel, making it popular with agricultural vehicles.

The new leasehold has been secured by experienced retail operator, Prem Uthayakumaran, who plans to introduce a wider product range and food-to-go offering.

He commented, “I am pleased Christie & Co assisted our first purchase as an independent forecourt operator. We have plenty of knowledge in retail and believe forecourts present the best value to grow in the market. Broxbourne Service Station is a great opportunity and we look forward to servicing the local community and passing visitors.”

Mark Kaluza, Retail Director at Christie & Co handled the sale and added, “The market is very buoyant in light of the global outbreak of COVID-19, and showing lots of demand for freehold or leasehold sites, particularly from commission operators looking to acquire their first site.

'It has become apparent amidst the current situation that the convenience network is essential in providing local communities with food and medicine and we expect this demand to continue driving the market in the coming months.”

The former owners, Jude Perera and Mukund Dhirubhai, who were selling to retire from the sector said,“We recently leased our petrol filling station & convenience store through Christie & Co and we highly recommend them. They were efficient, professional and excellent at communicating with us on every aspect of the process. In particular, Mark was always helpful if we had any questions or concerns and they got back to us with answers quickly.”