Petchey Holdings is targeting development opportunities in petrol station group Save’s portfolio, after buying it out of administration.
Property investor Jack Petchey, who owned 30% of Save, joined forces with Yorkshire-based petrol distributor Bayford & Co to rescue the firm in a £47m deal, which completed last week.
Petchey Holdings’ Ron Mills said: “We will look at each site in the portfolio on a site-by-site basis. There will however be a number of redevelopment opportunities for residential and alternative use schemes.”
Around 10% of the group’s 400-strong network of petrol stations are expected to be sold or given over to redevelopment.
EGi News 16/01/02
