Morley Service Station in Plymouth purchased by growing group operator
Specialist business property adviser, Christie & Co has completed on the sale of Morley Service Station in Plymouth, Devon to growing petrol retail site operator, the Ascona Group.
Morley Service Station comprises a Texaco branded forecourt with four pump islands and a Mace convenience store. Ideally situated on Billacombe Road, directly linking with the A379, the site sees high levels of passing trade and is also well utilised by those in the local area, as well as incoming traffic from the South Hams.
Plymouth is widely known for its ferry port, major fish market harbour and is home to the largest naval base in Western Europe, HMNB Devonport. Plymouth has a population of approximately 258,500 and benefits from a seasonal uplift with large attractions, such as The Barbican and The Hoe.
The site has always traded as a forecourt, supplying commuters and locals with convenience goods and fuel, with the previous owner having operated the business since 1997.
Morley Service Station has been purchased by the Ascona Group, an expanding operator with sites across the UK. Mr Darren Briggs, CEO of Ascona Group comments, “Ascona are extremely pleased with this particular acquisition as it opens up the South West as an area for us. We have a number of further acquisitions ongoing in the area and are funded to grow significantly throughout the UK during 2019.”
William Trott, Business Agent at Christie & Co’s Exeter office, handled the sale and comments, “Morley Service Station has been an interesting deal, which we are very excited to have concluded on. I would like to thank our client for allowing us to broker the deal for him in order to exit the business with the most favourable terms the market had to offer. The interest from Ascona and their speed to the deal was fundamental to the success of the sale. We look forward to dealing with Ascona in the future and wish our client all the best with his other business.”
The freehold interest of Morley Service Station was sold for an undisclosed sum.