Karan Retail has expanded its forecourt estate in Scotland with the acquisition of David Harrison Cars & Petrol Station in Peebles.
The Top 50 forecourt operator has acquired the site on Edinburgh Road through specialist business property adviser Christie & Co. The deal forms part of Karan Retail's continued expansion in Scotland and follows a series of additions to its estate this year.
The Peebles property comprises a petrol filling station alongside commercial and residential investments. It was brought to market as part of the former owner's retirement planning.
A spokesperson for Karan Retail said: “We are delighted to add David Harrison Cars & Petrol Station in Peebles to the Karan Retail portfolio. This acquisition supports our continued growth in Scotland and strengthens our presence in the region.
“We look forward to investing in the site, building on its strong local reputation and continuing to provide excellent service to the local community.”
The acquisition comes shortly after Karan Retail added Chidswell Service Station in West Yorkshire to its estate in July. The 0.32-acre site comprises a modern forecourt and Londis-branded convenience store.
Karan Retail has also recently strengthened its relationship with JET, bringing its first sites into the fuel brand's network.
JET Chidswell Service Station and JET Menstrie Service Station in Stirling joined Karan Retail's portfolio at the end of June, while Crowborough Service Station in East Sussex was rebranded to JET and became fully contracted in May.
Commenting on the Peebles deal, Mark Lavery, director – retail & leisure at Christie & Co, said the sale had attracted significant interest.
“With strong levels of interest and multiple offers received, this significant and strategic forecourt site has shown again the appetite for well-performing petrol filling station sites, and has further boosted Karan Retail’s presence in Scotland,” he said.