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Sector Insights

Ince Gordon Dadds advise on £31m purchase of petrol station/convenience store portfolio

21.12.2017 Commercial property, Corporate

We have recently completed a transaction advising on the purchase of a portfolio of 14 convenience stores and petrol filling stations for just under £31m.

We advised the real estate investor and asset manager Investra Capital, and its client Sheikh Ahmed Bin Nasser Al-Thani, on the purchase of the stores from European real estate investment manager Aerium.

The properties, which are spread across the UK, are all let to the Co-operative Group. They generate a rent of about £2m a year and benefit from fixed annual rental uplifts of 2%.

Our team was led by Head of Corporate Alon Domb and included Marilyn Elstow (Real Estate partner), Alan Barnett (Corporate associate), Cassian Goode (Corporate assistant solicitor) and Henry Evans (Corporate trainee solicitor).

Following completion Alon Domb commented:

“We are pleased to have assisted Investra in bringing this transaction to a successful conclusion. The deal is a testament to Gordon Dadds’ ability to provide the insights and technical expertise necessary to support ambitious businesses and individuals.”

Martin Waller, UK Managing Director of Investra Capital, commented:

“We are grateful for Gordon Dadds’ support – they provided a professional, responsive and expert service that we could confidently rely on. We continue to see strong interest from our Gulf Investors in medium to long-let assets spread across the UK market and look forward to further activity in the New Year.” 

Aerium’s UK legal advisors were King & Wood Mallesons.