Expanding independent operator and Top 50 Indie, Ascona Group has bought a pair of petrol forecourts situated close to Llandrindod Wells, a town in Powys, Mid Wales.
Ridgebourne Service Station and Crossgates Service Station, which was sold via Christie & Co, were previously managed by Llink Group Ltd.
Following a very competitive bidding process that attracted multiple bids and closed just before the nationwide COVID-19 lockdown in March, the transaction has been successfully completed by Ascona.
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 said, “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.”