AIM-listed Roadside Real Estate is on the hunt to deploy £100m into “institutional-quality roadside real estate” after refinancing the business and moving out of the red to post an operating profit of almost £4m.
The firm said it was “actively pursuing” opportunities with a £100m “imminent pipeline” identified through its joint venture with Meadow Partners.
Executive chairman Charles Dickson said: “We have a quality roster of prospective tenants keen to occupy our planned acquisition sites, which will feature a combination of drive-through, food convenience, local logistics, trade counters and electric vehicle charging stations.”
The group said it expected to have deployed most of the capital by the end of 2024.
Roadside’s portfolio currently comprises a £3.9m site at Wellingborough, let to Greggs, Formula One Autocentres, City Plumbing Supplies and C Brewer & Sons and a £4.8m site at Maldon. Together the two schemes provided £523,000 of annual rent.
It owns a further three sites through its joint venture with Meadow in Stoke, Gosport and Coventry.
Dickson said the group was now focused on “scaling its pipeline”.
Photo by Global Warming Images/Shutterstock
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