Roadside Real Estate - Completion of Acquisition

Roadside Real Estate

17/06/2026 07:00

RNS Number : 6388I
  
Roadside Real Estate PLC
  
17 June 2026
  
 


17 June 2026
 
Roadside Real Estate PLC
("Roadside", the "Company" and the "Group")
Completion of Acquisition
Roadside (AIM: ROAD), the UK energy forecourt real estate business, is pleased to announce that, further to the announcement on 13 April 2026, it has now completed the £28.6m acquisition of Hoch Group Ltd ("Hoch").  The Hoch portfolio comprises of 12 premium-quality, operational petrol station forecourts ("PFS") and a standalone convenience store, which are strategically clustered predominantly in Cumbria, Northwest England.
The Group has also agreed a new £25 million revolving credit facility, with an additional £10 million accordion facility from HSBC (the 'HSBC Facility') to fund its acquisition pipeline, including Hoch.
The acquisition has been funded through a combination of (i) a drawdown of £12.5 million from the new HSBC Facility; (ii) £14 million of cash proceeds from CGV Ventures 1 Ltd ("CGV") following the exercise of the Put Option Agreement relating to the second tranche of its shareholding in Cambridge Sleep Sciences ("CSS") and (iii) a drawdown of £2.1 million under the Company's existing debt facility with Tarncourt (the 'Tarncourt Facility').
The Group has also refinanced the existing £3.5 million Barclays facility, acquired as part of the Gardner Retail acquisition in February 2026, via a drawdown of a further £1.9 million of the Tarncourt Facility and also utilising part of the proceeds from the sale of the first tranche of its shareholding in CSS.
The HSBC Facility has an initial term of three years which can be extended for a further two, one-year periods if the Company so requests and HSBC agrees to such request. The interest rate will be calculated on the basis of a margin plus compounded SONIA, with the margin ranging from 1.5% per annum to 2.6% per annum dependent on the Company's leverage ratio. The starting margin is expected to be 2.6%. Following completion of the acquisition, the Company's total drawdown under the HSBC Facility is £12.5 million.
Following completion, the Company's total drawdown under the Tarncourt Facility is £4 million. The interest rate attached to the Tarncourt Facility is fixed at Bank of England base rate at the time of each drawdown plus 3% per annum and the facility has a maturity date of 1 April 2028.
 




Enquiries
Roadside Real Estate PLC
Steve Carson, Chairman
Charles Dickson, Chief Executive Officer
Douglas Benzie, Chief Financial Officer
c/o Montfort










Montfort
Ann-marie Wilkinson
Alex Everett


 
+44 (0)7730 623815
+44 (0)7780 431533




Cavendish Capital Markets Limited (Nomad & Joint Corporate Broker)
Matt Goode / Seamus Fricker / Elysia Bough (Corporate Finance) 
Matt Lewis / Harriet Ward (ECM) 
Alistair Hay / Krishan Raval (Debt Advisory)


 
 
+44 (0) 20 7220 0500




Shore Capital (Joint Corporate Broker)
Ben Canning (Corporate Broking)
Stephane Auton / James Thomas / Harry Davies-Ball (Corporate Advisory)


 
+44 (0)20 7408 4050




 
 
 




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