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The press release details

Published 04/07/2025, 07:22
The press release details
ROAD
2.13%

  • Roadside Real Estate PLC acquiring a former Sainsbury (LON:SBRY)’s Petrol Filling Station in Coventry for £1.25 million
  • Redefinition of their Meadow Joint Venture agreement
  • Acquisition of Meadow’s 49% stake in Roadside Asset Management
  • Plans to increase stake in Meadow JV to 10%

This contains sufficient factual information to write a news article, so I’ll proceed.

Roadside Real Estate acquires former Sainsbury’s petrol station for £1.25m

LONDON - Roadside Real Estate PLC (AIM:ROAD) has acquired a former Sainsbury’s petrol filling station in Coventry for £1.25 million in cash from Roadside Retail Ltd, according to a company statement released Friday.

The UK real estate firm, which specializes in roadside and convenience retail properties, plans to renovate the site by reinstating the former petrol station and convenience store while adding electric vehicle charging capabilities and other ancillary services.

As part of the transaction, Roadside has also redefined its joint venture agreement with Meadow. The Meadow JV will no longer include ownership and operation of petrol filling stations or related convenience retail services, and will lose its right of first refusal over such assets.

Additionally, Roadside has purchased Meadow’s 49% stake in Roadside Asset Management Ltd for £1. The asset management agreement with the Meadow JV has been terminated, with Meadow JV and Meadow entering into a new agreement on the same commercial terms.

Roadside will continue identifying and evaluating assets within the Meadow JV’s scope until April 30, 2026, though this now excludes petrol filling station businesses.

The company also confirmed its previously announced intention to increase its stake in the Meadow JV to 10%. Both parties have agreed to determine the price and complete this transaction by October 31, 2025.

The Meadow JV is currently negotiating several additional site acquisitions as it works to deploy its equity commitment, according to the press release.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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