REG - Roadside Real Estate - Acquisition

Roadside Real EstateAnnouncement

04/07/2025 07:00

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RNS Number : 7249P  Roadside Real Estate PLC  04 July 2025

 

4 July 2025

ROADSIDE REAL ESTATE PLC

("Roadside," the "Company" or the "Group")

 

Acquisition of Coventry site Petrol Filling Station and redefinition of Meadow Joint Venture

 

Roadside (AIM: ROAD), the UK real estate company focused on value-led roadside
and convenience retail, is pleased to announce it has acquired the former
Sainsbury's Petrol Filling Station ("PFS") at the Coventry site from Roadside
Retail Ltd ("Meadow JV") for a total cash consideration of £1.25 million.

 

Roadside will now begin works to re-instate the former PFS and convenience
retail store, adding EV charging and ancillary services to the location.

 

Meadow Joint Venture

 

In conjunction with this acquisition, it has been agreed that the business of
the Meadow JV will exclude the owning and operating of PFS businesses and
related convenience retail services and the Meadow JV will no longer have a
right of first refusal over such assets. This affords the Company more freedom
to pursue opportunities in the roadside space, particularly around energy
transition, convenience retail and evolving consumer demands.

 

Furthermore, Roadside has acquired Meadow's 49% stake in Roadside Asset
Management Ltd ("RAM") for £1 and RAM has simultaneously terminated the asset
management agreement with the Meadow JV.  The Meadow JV and Meadow will enter
into a new asset management agreement on the same commercial terms as the
current asset management agreement. Roadside will continue to have
responsibility for the identification and evaluation of assets within the
scope of the business of the Meadow JV (as varied to exclude PFS businesses)
and to offer these to the Meadow JV on an exclusive basis until 30 April 2026.

 

The Meadow JV remains in negotiation on several further site acquisitions as
it works to deploy its equity commitment in assets that deliver sustainable
returns for investors and valuable amenities to local communities.

 

As previously announced, Roadside intends to increase its stake in the Meadow
JV to 10%. The parties have agreed to use reasonable endeavours to shortly
agree the price payable by Roadside to increase its stake and to complete such
increase on or before 31 October 2025.

 

Charles Dickson, Chief Executive Officer commented:

 

"This transaction is fully aligned with Roadside's strategic ambition to
capture value through the ownership and operation of essential retail
infrastructure in high-traffic, accessible locations. The Company believes the
Austin Road site offers strong redevelopment potential and an attractive
return profile, underpinned by growing demand for well-located, service-led
retail formats tailored to the needs of the local community."

 

 

Enquiries:

For further information, please contact:

 

 Roadside Real Estate Plc
 Steve Carson, Non-Executive Chairman
 Charles Dickson, Chief Executive Officer
 Douglas Benzie, Chief Financial Officer
 c/o Montfort
 Montfort
 Ann-marie Wilkinson                                                  Tel: +44 (0)77 3062 3815

 Isabella Leathley                                                    Tel: +44 (0)74 7168 7266

 Cavendish Capital Markets Limited (Nomad and Broker)
 Matt Goode / Seamus Fricker / Elysia Bough (Corporate Finance)       Tel: +44 (0)20 7220 0500

 Tim Redfern (ECM)

 Stifel Nicolaus Europe Limited (Financial Adviser and Joint Broker)
 Mark Young                                                           Tel: +44 (0)20 7710 7600

 Jonathan Wilkes-Green

 Catriona Neville

 

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