A Qatari investor advised by Investra Capital, a private equity real estate investor and asset manager, has acquired a portfolio of 14 petrol station convenience stores in the UK from European real estate fund manager Aerium for £30.9 mln (€42 mln).
A Qatari investor advised by Investra Capital, a private equity real estate investor and asset manager, has acquired a portfolio of 14 petrol station convenience stores in the UK from European real estate fund manager Aerium for £30.9 mln (€42 mln).
Spread across diverse UK locations, the freehold assets are let to the Co-operative Group on a weighted average unexpired lease term of 12.1 years generating a rent of £2 mln per annum and benefiting from fixed annual rental uplifts of 2%.
The associated filling stations are operated by the Co-operative Group and Petrogas with the petrol supplied by Chevron Texaco. Eight of them have been totally redeveloped under Aerium's ownership.
Martin Waller, UK managing director of Investra, said: 'We have seen strong interest from our Gulf Investors, particularly for medium to long-let assets spread across the UK Market.'
The buyer is a client of Commercial Bank Qatar, Sheikh Ahmed Bin Nasser Al-Thani, and was advised by Investra Capital.
Aerium was advised on this transaction by Gerald Eve.
