Former Total Petrol Stations

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