IN BRIEF: Roadside Real Estate buys petrol stations amid retail shift
Roadside Real Estate PLC - Abingdon, England-based investor in roadside property such as petrol stations and convenience stores - Agrees acquisition of Gardner Retail Ltd for GBP17.8 million, including GBP4.0 million in debt assumed. Gardner owns six petrol station forecourts in south west England. Roadside Real Estate back in September agreed to sell its commercial property business to focus on retail properties. The business was sold to Tarncourt Properties Ltd, a company controlled by Roadside Chief Executive Charles Dickson. On Wednesday, Roadside says it has increased the size of its existing financing facility with Tarncourt to GBP35.0 million to help fund the purchase of Gardner. Roadside says Gardner booked pretax profit of GBP600,000 and adjusted earnings of GBP2.1 million on GBP33.9 million in revenue in the financial year that ended July 31. Read More