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22 October 2019 | Retail

Blade Motor Group leases out two petrol stations to expanding independent operator Ascona

Acting on behalf of Heritage Automotive, who acquired Blade Motor Group earlier this year, specialist business property adviser, Christie & Co has sold the leasehold interest in two of their forecourts in Gloucester.

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Both forecourts benefit from excellent trading positions, with one located on the A40 Bypass adjacent to Blades Honda dealership and the second site just under a mile away, in the village of Twigworth on the A38 and adjacent to a Skoda dealership. The A40 Bypass forecourt is currently supplied by SPAR, AF Blakemore and Shell, with the Twigworth forecourt supplied by BP. 

Heritage Automotive decided they wanted to lease the forecourts to a third party shortly after they acquired Blade Motor Group earlier this year. They now operate 19 car dealerships across the south west.

The Directors of Heritage Automotive comment, “Following our recent acquisition of Blade Motor Group we were keen to lease out these two forecourts and contacted Dave Morris of Christie & Co who helped us sell a forecourt site in 2016.  We are delighted with the outcome here and are pleased that Ascona are our new tenants.”
 
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Twigworth Service Station

Owned by Darren Briggs, Ascona Group Holdings has rapidly expanded over the last two years and this acquisition takes them to 18 operational forecourts.

Duncan Morris, Group Property Director comments, “Ascona are delighted to announce the completion of a deal to take on two forecourts in the Gloucester area. This is just the first of a number of planned multi-site acquisitions expected to be completed in the very near future. The Gloucester sites, which adjoin the highly successful Blade Motor Dealerships, will give Ascona excellent representation in the area. Ascona plan to invest further in the two sites to create strong local and transient offers.”

Dave Morris of Christie & Co adds, “The forecourts attracted strong interest from independent and corporate operators who identified that the opportunity allowed an incoming tenant to acquire two forecourts very close together and so would give additional operational benefits. It was great to work again with the Directors of Heritage Automotive and we look forward to seeing the changes that Ascona have planned for both forecourts.”

The leasehold interest in both sites sold for an undisclosed sum.
 

For further information on this press release, contact:

Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: fiona.fieldhouse@christie.com