Roadside has invested £1.7 million in the redevelopment of its Coventry forecourt, which has now reopened with a Londis convenience store alongside a range of additional services.
The UK energy forecourt real estate business acquired the former Sainsbury’s site for £1.25m last year and has since completed the redevelopment, taking its total investment in the site to £2.95m.
The reopened site features Valero-branded fuel alongside the Londis store, four branded parcel lockers, two jet wash bays and a laundromat.
Roadside has also secured a grid connection and planning permission for up to eight ultrafast EV charging bays, which it expects to install in the coming months.
The company said the site had made a strong start since reopening, with encouraging early fuel volumes.
Roadside steps up estate investment
Coventry is now one of 21 energy forecourt sites operated by Roadside following the completion of four acquisitions over the past nine months.
The company said it had carried out a detailed review of the potential of every site in its portfolio and had already begun acting on the findings.
Initial capital expenditure is under way at several sites where Roadside sees the greatest opportunities for growth.
The company said the review had improved how its sites operate and helped establish a clear, prioritised investment programme across the estate.
Roadside CEO Charles Dickson said Coventry demonstrated what investment could achieve across its portfolio.
“When we raised capital in February, we told shareholders that the businesses we were buying would generate the cash both to reinvest in our sites and to reward investors,” he said.
“Today we are delivering on both. Having reviewed every site in detail, we now have a clear plan to unlock value across the estate and Coventry shows what that investment can achieve.”
Roadside to recommend maiden dividend
The company also announced plans to recommend its first dividend to shareholders, following completion of the Gardner Retail and D A Roberts Fuels acquisitions.
Roadside intends to recommend a maiden final dividend of at least 0.36 pence per share for FY26, subject to shareholder approval at its 2027 Annual General Meeting.
The final amount and proposed payment timetable will be confirmed when Roadside publishes its full-year results for the year ended 26 September 2026 in January.
Dickson said the maiden dividend was an important milestone and reflected the board’s confidence in the cash generation of the portfolio as Roadside continues to build scale.
The company is due to provide a full trading update in November.