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 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 said transactions in this sector were extremely rare as most of the 100 or so stations on the UK motorway network were held by just four main operators: Moto, Welcome Break, Roadchef and Extra.
Will said the sector remained buoyant with major players jostling for the best roadside positions as an when opportunities did 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.