The looming ‘Road to Zero’ and 2030 deadline is having little effect on buyer appetite for petrol stations, according to business property adviser Christie & Co.
The company’s ‘Business Outlook 2023 Finding Clarity’ report reveals it received an average of five offers per transaction, reflecting the strong ongoing demand, causing a 1.5% increase in Christie & Co’s retail price index for 2022.
The growth of other income streams such as ‘fast-moving convenience goods’ was also identified in the report as a key trend shaping the market, with 88% of the UK’s filling stations now featuring a retail offering, 31% of which are a full convenience store.
Looking to the year ahead, the report also outlines Christie & Co’s market predictions, which are:
- The threshold for a viable corporate business has increased again, leading to more and better-quality corporate divestments, which presents an acquisition opportunity for independents.
- All sellers will need to be realistic about pricing, to reflect the performance of their business and a new cost base.
- Price expectations will be a key focus for 2023.
Steve Rodell, Managing Director of Retail at Christie & Co, said: “We enter 2023 on the back of a very busy 2022 when activity levels surpassed modest expectations which were set during the Covid years. Appreciating the economic climate we are very encouraged by the healthy number of deals we are taking into this year.”
