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MFG puts site up for sale to resolve competition issue

02 February, 2015
Page 4 

The Seapoint Filling Station in Hythe, Kent, which MFG is selling to resolve competition authority concerns over its acquisition of Murco's retail business, provides a rare opportunity for a buyer, according to the property adviser working on the sale.

Adam Wadlow, director of Barber Wadlow, said: "For a single site in the South East to become available is quite a rare opportunity. When sites do become available in the South East it is usually as part of larger oil company disposals.

"Another notable factor is that it is sold free of tie, which means the buyer will be able to look around for an attractive supply deal for both their fuel and the shop. When buying a site from an oil company there will generally be a less favourable five-year supply agreement involved."

He added that the March 6 deadline for bids was typical of the timescale for such a deal.