Former Total Petrol Stations

Categories: High Street, Development

Joint venture partners Boultbee and London & Central Securities are continuing to realise value from the portfolio of 19 former petrol stations purchased for £3m in December 2010.

The 137-143 Chiswick High Road site, which was leased to Metro Bank for 25 years from November 2011, was developed by the bank which undertook all development costs, and opened as a Metro Bank branch in 2012. This site was sold to Vectis Property Group for £3.6m.

London and Boultbee Ltd, the joint venture vehicle, have carried out an on- going programme of development for the rest of the sites which includes residential and retail units for re-sale or leasing opportunities.

Eight other sites within the portfolio have been sold to date, including:

  • Altrincham, nr Manchester
  • Cradley Heath, West Midlands
  • Reading Rd South, Hampshire
  • North Holt Road, South Harrow
  • Sudbury, Suffolk
  • Tilehurst Rd, Reading
  • Badshot Lea, Farnham
  • Maldon Rd, Chelmsford

Price £3.6m