IN BRIEF: Roadside Real Estate adds to UK petrol station portfolio
Roadside Real Estate PLC - Abingdon, England-based investor in roadside property such as petrol stations and convenience stores - Completes the acquisition of a group of 12 petrol stations and separately agrees the purchase of one more. Roadside Real Estate in April agreed to buy Hoch Group Ltd for GBP28.6 million. Hoch owns a portfolio of 12 petrol station forecourts and one standalone convenience store in Cumbria, north west England. Roadside Real Estate funds the acquisition with a new GBP25.0 million revolving credit facility from HSBC and a drawdown of its existing facility with Tarncourt. The HSBC facility has a starting margin of 2.6 percentage points above the sterling overnight index average and is drawn down by GBP12.5 million. Tarncourt facility is charged at 3 percentage points over the Bank of England base rate and is drawn down by GBP4 million. Read More