Specialist business property adviser Christie & Co has announced the sale of Craven Park Service Station, a busy petrol station with store in north west London.
Located on Church Road in the borough of Brent, Craven Park Service Station comprises a petrol filling station, accompanying retail store, and additional car wash/valet services.
The site has been owned by Rohitkumar Patel, Parimal Patel and Yogesh Chag since 1994 and was extensively redeveloped in 2002. Parimal commented, “It was not an easy decision to sell the site, but we felt the timing was right for all partners. From the outset, Oliver at Christie & Co delivered exactly what he promised, working tirelessly to see the sale through to completion, diligently liaising with all parties involved and keeping the process on track. We had multiple offers and selected the buyer we felt was right for the site.”
The site has been purchased by a private buyer, represented by Lornham. Dominic Wertheimer, Founding Director of Lornham, said, “We have known this family office for some time, having met them on our trips to Dubai. They were looking to diversify their property holdings, so we identified this acquisition opportunity and are currently looking for more commercial assets to meet the criteria of their long-term strategy.”
Oliver Guppy, Business Agent at Christie & Co who managed the sale, said, “I am delighted to have helped Rohitkumar, Parimal and Yogesh find a buyer, after having owned and operated this site since 1994. We received a lot of interest, reflecting how active the market currently is, from both established forecourt operators and new-to-industry names, and obtained multiple offers. The buyer completed on the purchase within four months, and I would like to wish them every success with the new site. I would also like to thank the former owners for entrusting me with the sale of Craven Park and wish them good luck in their next endeavours.
“The sale of Craven Park underpins how active the market currently is, with a strong amount of interest received. This reiterates the importance of running a full marketing process to achieve the best outcome for a sale. We have multiple bidders who were interested in this opportunity but were unsuccessful and are still actively looking for new sites to buy, so if you are thinking of selling or wish to have a confidential chat then please do contact us.”
Craven Park Service Station was sold off a guide price of £2,750,000.
