Roadside Real Estate to dispose of commercial property business
Roadside Real Estate has announced the proposed disposal of its entire commercial property business to Tancourt Properties for approximately £12m.
The group said the disposal will allow it to concentrate on its roadside real estate business, as well as its strategic focus of building and scaling a portfolio of modern operational roadside retail assets, including petrol filling stations and electric vehicle charging infrastructure.
Roadside Real Estate added that disposing its commercial property arm will simplify its business, strengthen its balance sheet, and bring further opportunity in the active management of operational real estate in the roadside sector.
Tarncourt is a company ultimately controlled by Charles Dickson and the Dickson family. Charles Dickson is chief executive officer and a director of Roadside Real Estate.
Steve Carson, chair of Roadside Real Estate, said: “This is an important step in streamlining the group in line with its strategic focus.
“We believe the roadside retail assets have the potential to generate significant returns for shareholders and Roadside continues to seek, and is currently evaluating, a number of opportunities to acquire further roadside retail assets to meet evolving consumer demands.
“The directors believe that the disposal is in the best interests of shareholders and will promote the success of the company for the benefit of its shareholders as a whole.”
Roadside Real Estate was founded in 2023 through a joint venture between Barkby and Meadow Partners.