Central Convenience Store & Texaco Branded Petrol Filling Station

Milborne Port, DT9 5AU


Property Type Investment
Availability For Sale
Size 2959 sqft
Energy Performance Rating N/A

Well located convenience store, post office and petrol filling station


Milborne Port is a large village, in south east Somerset, 3 miles east of Sherborne and 8 miles east of Yeovil. It has a population of appx 2,800 residents. The village has a number of good local amenities including several churches, numerous local shops, a primary school, public houses, a doctors surgery and a regular bus service while both Sherborne and the local regional centre of Yeovil provide between them an excellent range of cultural, recreational and shopping facilities. Communication links are good with a main line station at Sherborne linking directly with London Waterloo & Exeter St Davids. Road communications in the area are excellent with the A30 and A36 passing through the village. In addition the A303 trunk road is located 6 miles north of the town and via Wincanton gives fast access to M3 and M25 motorways. This petrol filling service station and convenience store is positioned on the edge of Milborne Port and fronts the A30 principal trunk road connecting Milborne Port to Sherborne and Yeovil.


  • Let for 20 years from 21st June 2017 to WS Retail Limited with a guarantee from Palmer & Harvey McLane Limited
  • Passing rent £45,000 per annum
  • Fixed uplifts at 2.5% per annum payable 5 yearly
  • Offers in excess of £712,000
  • Net initial yield of 6% with a reversionary yield June 2021 to 6.79%

The convenience store forms a regular rectangular shaped single storey retail unit on ground floor with ancillary accommodation and a  separate storage unit. The store has been rebranded to Central Stores corporate format. The workshop element has been sublet to John Creighton t/a Crackmore Garage providing vehicle servicing, repairs and MOT’s.

The site area extends to some 0.10 hectare (0.267 acres).

The fuel forecourt benefits from 4 pumps and is protected by a steel-framed, illuminated canopy.

In addition to the convenience store there are also generous areas for car parking for some 12 vehicles.

Convenience Store 968 sq ft 90 sq m
Rear Storage Areas &
Staff Accommodation
237 sq ft 22 sq m
Workshops 1,754 sq ft 163 sq m
Total 2,959 sq ft 275 sq m


Year Rent Reversionary
June 2021 £50,913 pa 6.79%
June 2026 £57,604 pa 7.68%
June 2031 £65,173 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 21st June 2017 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 £45,000 per annum. We understand from our client that WS Retail have sublet the workshop element for £6,000 per annum on a 5 year lease outside the Landlord and Tenant 1954 Act.


WS Retail Ltd (trading as “Central Stores”) operate appx 100 stores in  the South West, they have been successfully expanding their business and are intending to continue with further substantial growth. P&H guarantee the income for the entirety of the 20 year lease 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


Site check assessment and remediation validation report are available on 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 held by the tenant in place.


We understand from our vendor client that the business currently has a turnover of £48,000 per week, with a fuel throughput of 1,386,666 litres per annum.

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.


On Application.


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 £712,000 (subject to contract) for the freehold interest, which reflects a net initial yield of 6% assuming purchasers costs at 5.33%.

< Back to properties VIEW SHORTLIST Download Marketing Brochure Download Lease Download Official Copy (Register) Download Sitecheck Assess Search Download Title Plan Download Geo2 Crackmore Service Station Validation Report March 2017.pdf

Viewing & Further Information

For further information, or if you would like to arrange a viewing, please contact our agents:

Michael Braier

020 7478 9112


Nick Sherling

020 7478 9113


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