Nolan Redshaw, acting on behalf of a Private Client, has successfully acquired two prime investment properties in Sheerness and Liverpool.
Totalling approximately 2.47 acres, both sites have been selected for their long-term income security and strategic location.
Both sites are tenanted by WFL (UK) Ltd, operating as Watson Fuels. Watson Fuels are a global leader in the distribution of petroleum, fuels, lubricants, and other energy sources and have been serving the industry since 1957. Their acquisition by World Fuel Services in 2014 enhanced their already stellar reputation, presenting an excellent covenant for the purchaser.
WFL (UK) Ltd have committed to 20-year agreements, with commencements in 2021 in Liverpool and 2020 in Sheerness. Additionally, annual RPI uplifts kick in after the fifth year, ensuring a reliable income stream and growth. The tenant has invested significant capital to develop the sites into unmanned petrol filling stations for heavy goods vehicles.
Commenting on the successful acquisition, Harry Bowers of Nolan Redshaw said, “We are delighted to have acquired these two investments on behalf of our client. The unique strategic geography of these properties and the security of 20-year leases to Watson Fuels makes both sites long-term secure investments. We are grateful to Joe Sinclair at B8 Real Estate whose representation of the vendor played a crucial part in the success of this transaction and to Eoin Murphy at BBS for handling the legal aspects on behalf of the purchaser.”
