Coventry site acquired by Abingdon’s Roadside Real Estate

Oxfordshire-based Roadside Real Estate has acquired a new asset on the A444 near Coventry as part of its joint venture with Meadow Partners.

The 8.25-acre site was bought for £3.26 million and currently features a 72,091 sq ft former Sainsbury’s food store, vehicle filling station, and 407-space customer car park.

Roadside sees potential for an EV charging hub, with options at the rear of the property for retail or last mile logistics.

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The site has been purchased with vacant possession, allowing the buyers to review the site’s configuration and look to redevelop it to serve a variety of complementary tenants.

They have already received expressions of interest from a number of brands focused on drive-through and ‘foodvenience’ offerings. Further development opportunities will be assessed in due course.

Charles Dickson, executive chairman of Roadside, said: “This is an exciting third acquisition for the joint venture with significant scope for EV charging infrastructure in line with our strategy, redevelopment potential and a variety of asset management opportunities.

“Our Coventry site is a perfect example of the kind of assets we’re seeking to unify, institutionalise and develop into high-amenity facilities that benefit their surrounding communities.”

Per the terms of their agreement, Meadow will own and fund 97 per cent of the joint venture while Roadside will own and fund 3 per cent.

Read more – Stoford lets new Spa Park unit to international automotive supplier

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