Fri, 08 Jul 2022 | COMMERCIAL PROPERTY
A service station located on a key junction of the A11 in Suffolk has been put up for sale with an asking price of £8 million. The Fiveways Motor Service Area is located on a site covering more than four acres in Barton Mills near Mildenhall in West Suffolk, on the A11’s northbound carriageway.
The site’s amenities include a McDonald’s restaurant and drive-thru, as well as a Shell petrol filling station. Both of these operations are let on long-term leases. The service station, on the busy Fiveways roundabout, is close to both Norfolk and Suffolk and is a popular stopping point for motorists and HGV drivers. Around 50,000 vehicles pass the site each day and it generates annual rental income of more than £391,000.
Along with these current operations, the site has been described as offering strong opportunities to futureproof, with the potential to install new amenities such as electric vehicle charging points, subject to the necessary planning permissions. As a result, the vendors expect strong interest in the site from potential buyers.
The freehold of the Fiveways Motor Service Area, which was revamped and reopened in 2015, has been brought to market by Pigeon Investment Management, which is being advised on the sale by Savills and Barber Wadlow.
Savills UK investment team director James Emans commented: "Fiveways Motor Service Area provides a rare opportunity to acquire a modern roadside investment with diversified income in one of the most prominent positions along the A11 corridor.”
"There is also the potential to redevelop part of the site for alternative uses such as EV charging, subject to planning."
Barber Wadlow partner Adam Wadlow added: "With its compelling drive time credentials and the ability to future proof, the site provides long term appeal to occupiers. For this reason, we anticipate receiving a number of enquiries from interested parties."
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