A service station which fell victim to a ram-raid burglary last year just before it was launched on the market has finally sold.
Rowborough Service Station, located on the Fosse Way between Moreton in Marsh and Shipston on Stour has been sold to London-based AKV Garages UK Limited.
Specialist business property advisor, Christie & Co completed the freehold sale on behalf of the previous owner John Eaden.
Mr Eaden bought the 0.4-acre site in March 2015 as a one-off investment, planning to sell it in order to retire.
But the sales process faced many hurdles, as one week before launching to market confidentially, the store was the victim of a ram-raid burglary. Further delays ensued once the COVID-19 outbreak forced the nation into lockdown in March. Yet despite these setbacks, Jamie Williams, Business Agent in Christie & Co’s Retail team secured a buyer and achieve a good sales value in the circumstances by year end.
Mr Eaden said: “This has been a traumatic and frustrating experience for all concerned but Christie & Co and the legal teams have worked together to achieve a positive result in the end. The new owner is an experienced operator and is already building a store extension. I wish him well and I’m sure he will make a great success of a filling station in a superb location.”
Jamie Williams adds, “Following the ram-raid, the site was very badly damaged. Difficulties around lending due to the COVID-19 pandemic created additional challenges when negotiating with prospective buyers. We are delighted however that we were able to utilise out network to find a buyer and finalise the sale before the end of the year.”
The service station has been purchased by Mr Sritharan Manickavasagan who owns AKV Garages (UK) Limited, one of Forecourt Trader’s Top 50 Indies.