Aerium offloads petrol station c­store portfolio

30 January 2015

The properties, which are spread across the UK, are all let to the Co-operative Group on a weighted average unexpired lease term (WAULT) of 12.1 years. They generate a rent of about £2m a year and are subject to fixed annual rental uplifts of 2%. Under Aerium’s ownership, eight of the properties have recently been totally redeveloped whilst one has been extended and five refurbished. The associated filling stations are operated by the Co-operative Group and Petrogas with the petrol supplied by Chevron Texaco. The buyer is a client of Commercial Bank Qatar, Sheikh Ahmed Bin Nasser Al-Thani, and was advised by Investra Capital. 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.” Aerium was advised on the deal by Gerald Eve. Source PropertyWeek.com