Roadside Real Estate has agreed a deal to buy Gardner Retail for an estimated £17.8 million. This acquisition marks the company’s entry into the petrol station sector. The deal includes six premium forecourts located across Southwest England. Roadside plans to use these sites as a platform for further growth in the roadside retail market.

The portfolio is already performing well and recorded sales of 22 million litres of fuel in the 2025 financial year. In the 12 months ending 31 July 2025, Gardner Retail reported revenues of £33.9 million. It also saw an adjusted EBITDA of roughly £2.1 million and a profit before tax of £0.6 million. As of that same date, the business held gross assets worth £12.2 million.

To pay for the purchase, Roadside is increasing its debt facility with Tarncourt Properties Limited to £35 million. Following the deal, the company expects its total drawdown to be around £26.6 million. The interest rate for this facility is set at the Bank of England base rate plus 3%. Because Tarncourt is controlled by Roadside CEO Charles Dickson and his family, the move is classed as a related party transaction. Independent directors have reviewed the terms and found them to be fair for shareholders.

The final price will be adjusted through a completion accounts mechanism on a cash-free and debt-free basis. Roadside has already paid a deposit of £2.25 million. The deal is expected to finish by 25 February 2026, provided third party consents are received. The acquisition should boost the company’s underlying earnings for the financial year ending 30 September 2026.

Charles Dickson, Chief Executive Officer commented:

“This transaction marks the start of a new chapter in the execution of our strategy to build a high-quality portfolio of modern roadside retail assets and is a significant step in enhancing our competitive positioning. Our highly experienced team and strong track record in realising value from real estate assets will play a key role in unlocking future value. We are delighted to welcome the Gardner team to the Roadside family and we look forward to working with them to achieve our future goals and create value for our shareholders.”

The board is currently looking at other similar opportunities to expand its presence in the convenience retail and forecourt industry.