Roadside Retail, the joint venture between Meadow Partners and AIM-listed Roadside, has signed an agreement to buy Brampton Hut services at the junction of the A14 and A1, near Huntingdon in Cambridgeshire, for £4.8m.
The 8,617 sq ft site features six units let to Starbucks, Greggs, Wendy’s, Subway and Burger King, providing approximately £350,000 of net operating income annually, plus 74 car parking spaces, which Roadside said created “ample opportunity” for EV charging infrastructure.
Following completion of the deal, Gridserve Electric Hubs will install 10 EV charging points at the site, which are expected to become operational in the first half of 2025. Once installed, GridServe will enter into a new 20-year index-linked lease to operate the EV charging infrastructure
Roadside chairman Charles Dickson said: “The jv has deployed almost £100m in just over 13 months and it looks forward to adding further assets in due course. Brampton Hut is a high-quality cluster of ESG-compliant drive-through and drive-to units, let to household names at the junction of the A14 and A1, an area recently enhanced by £1.5bn of investment in new road infrastructure.”
He added: “The expansion of EV charging infrastructure at the site will serve passing traffic alongside a major transport interchange, providing important amenities that drive footfall and enhance its desirability to tenants.”
Dickson said the jv had a prospective roadside real estate investment pipeline in excess of £150m and that it was continuing to focus on assets that deliver sustainable returns for investors and valuable amenities to local communities.
Send feedback to Samantha McClary
Follow Estates Gazette
