Central Convenience Store & Texaco Branded Petrol Filling Station - Bradford on Avon

Trowbridge Road, Bradford on Avon, Wiltshire, BA15 1EG

Property Type Investment
Availability For Sale
Size 3,003 sq ft
Freehold Price Offers in excess of £790,000
Energy Performance Rating This property has been graded as 99 D

Central Convenience Store & Texaco Branded Petrol Filling Station


Bradford-on-Avon is a prosperous and historic town in west Wiltshire with a population of 9,402 at the 2011 census. The town's canal, historic buildings, shops, pubs and restaurants make it a very popular tourist location. Bradford-on-Avon lies on the A363 Trowbridge to Bath Road, which runs through the town from south to north, and crossed over by the B3109 linking Bradford-on-Avon with Melksham and Frome.  Bristol is just over 25 miles away by car. The town has its own train station and it is 22 mins by direct train to Bristol. This petrol filling service station and convenience store fronts the A363 principal through road and is within the town centre. The convenience store & PFS is the only notable filling station in Bradford upon Avon.

Key Points

  • Well located convenience store and petrol filling station
  • Let for 20 years from June 2016 to WS Retail Limited with a guarantee from Palmer & Harvey McLane Limited
  • Fixed uplifts at 2.5% per annum payable 5 yearly
  • Passing rent £50,000 per annum
  • Offers in excess of £790,000
  • Net initial yield of 6% with a reversionary yield at year 5 to 6.79%

The site area is 0.277 acres, and is of rectangular shape and located in a densely populated residential area.  The retail unit has been extended refurbished and recently refitted to Central Stores corporate format. There are additional self-contained warehouses and offices to the rear of the site.

The premises benefit from ample visitor car parking to the rear providing 8-9 spaces.

Convenience Store & Ancillary 1,216 sq ft 113 sq m
Rear Storage Areas & Staff Office 1,787 sq ft 166 sq m
Total 3,003 sq ft 279 sq m


Year Rent


June 2021 £56,570 pa 6.79%
June 2026 £64,004 pa 7.68%
June 2031 £72,415 pa 8.69%




The entire property is let to WS Retail Limited (trading as Central Convenience Stores) with a guarantee from Palmer Harvey & McLane Limited with no breaks for a term of 20 years from 27th June 2016 on FRI terms and subject to 5 yearly upward only rent reviews with fixed uplifts at 2.5% per annum compounded throughout. The commencing rental is £50,000 per annum.


WS Retail Ltd (trading as “Central Stores”) operate approx 100 stores in the South West, they have been successfully expanding their business and are now showing a profit. P&H guarantee the income for the whole 20 year term.

For the year ending April 2016:

Turnover - £54.98m

Gross Profit - £11.63m

Total Assets - £500,000

Palmer & Harvey McLane Limited (P&H) act as full guarantor throughout the lease term and own 100% of WS Retail Ltd who are the operating tenant. P&H has 3400 employees and has a Dun & Bradstreet rating of 5A1 representing a minimum risk of business failure. Further information is available at www.palmerharvey.co.uk.

It is the UK’s number 1 delivered wholesaler, with an annual turnover of more than £4 billion, serving multiple, convenience, forecourt and CTN retail outlets.  

For the year ending April 2016:

Turnover - £4.388 billion 

Gross profit - £173m

Net assets - £115m 

Shareholders’ funds - £129m


A phase II environmental report is available upon request. Under the terms of the lease WS Retail Ltd and Palmer Harvey McLane Limited are both fully responsible for the environmental status of site. There is also an indemnity insurance policy in place.


We understand from our vendor client that the convenience store currently has sales of £26,000 per week with a fuel throughput of 1.8 million litres. The total current turnover is £60,000 approx. per week. The store has recently been extended to 3 times its original size and Central are forecasting an increase of 20% by offering a more comprehensive range of products with a commensurate increase in fuel sales.

Market Conditions

There has been considerable activity in the forecourt sector over the last 3 years, with occupier demand intensifying, as well as an influx of private equity investment, which has had a positive influence on values.

The forecourt investment market has also witnessed yield compression driven by the attraction of long term leases, guaranteed rental growth and 5A1 tenant covenants.


The property is elected for VAT and it is assumed the transaction will be dealt with by way of a Transfer of Going Concern (TOGC).




We are instructed to seek offers in excess of £790,000 (subject to contract) for the freehold interest, which reflects a net initial yield of 6% assuming purchasers costs at 5.47%.

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