Roadside Real Estate (AIM:ROAD), the UK energy forecourt real estate business, has completed the £28.6m acquisition of Hoch Group, adding 12 operational petrol station forecourts and a standalone convenience store to its portfolio.
The Hoch assets are clustered predominantly in Cumbria, Northwest England, and were described in the original announcement on 13 April as premium-quality operational sites.
To fund the deal and its broader acquisition pipeline, Roadside has agreed a new £25m revolving credit facility with HSBC, carrying an additional £10m accordion option.
The facility runs for an initial three years, extendable by two further one-year periods, with interest set at a margin over compounded SONIA ranging from 1.5% to 2.6% per annum depending on leverage; the starting margin is 2.6%.
Following completion, Roadside has drawn £12.5m under the HSBC facility and £4m under a separate Tarncourt facility, which carries a fixed rate of Bank of England base rate plus 3% per annum and matures on 1 April 2028.
Total debt drawn across both facilities therefore stands at £16.5m against combined committed capacity of £35m, leaving meaningful headroom for further acquisitions.
Separately, ROAD announced another, smaller, deal to acquire a petrol filling station on Ross Road in Huntley, Gloucester, for £2.9 million in cash, covering the freehold interest, fixtures and fittings, and associated intangible assets.
The site currently handles approximately 4.5 million litres of fuel sales annually and generated profit before tax of £373,000 in the year to June 2025, implying a pre-tax earnings yield of roughly 12.9% on the acquisition price.
The station will be rebranded from TotalEnergies to Valero and also houses a Morrisons Daily convenience store.
Roadside described the deal as immediately earnings-accretive and said it forms part of the company's broader strategy to acquire and operate strategic roadside assets under what it calls the Gardner portfolio.
