Motorway Service Area Changes Hands
A landmark Motorway Service Area on the A1(M) in North Yorkshire has been sold to Moto Hospitality in a deal brokered by Colliers International.
Automotive and Roadside expert at the commercial real estate company, Will Jolly, said the sale of the family-run business at Bedale in North Yorkshire would bring additional jobs to the area.
Will Jolly acted for owner Carl Les. He said: “The business was set up by Carl’s mother and father in 1961 and now includes a petrol filling station, cafe and restaurant, hotel, shop and other facilities.
“Now, Moto Hospitality will inject the investment needed to implement the planning, upgrade the facilities provided to full MSA offer standards – providing staff with a more secure future and expanding the offer.
“It was not an easy decision for Carl to sell the family business, but it is in the best long term interests of the staff and the motoring public.”
Automotive specialists at Colliers International commented that with only c.100 Motorway Service Areas on the Motorway network in UK, the majority of these held by the four major operators Moto, Welcome Break, Roadchef and Extra; and with planning being particularly difficult and costly to obtain, transactions of this nature are extremely rare.
Will said the sector remained buoyant with major players jostling for the best roadside positions as an when opportunities become available.
“We are seeing a widespread return of confidence and activity levels are on the increase across all sectors.
“A number of operators are on the expansion trail at a time when they are not coming up against as much competition for sites from the residential and retail sector.”
The Automotive & Roadside team has also advised Threadneedle purchasing the petrol filling stations element of Cardiff Gateway Motorway Service Area which was let to Shell.