EG Group has revealed that it is setting up a new company in the UK called EG On The Move to run the forecourts that it has not sold to Asda. The fuel group is currently trialling the forecourt branding at a petrol station in Bury, UK.
Depending on the success of the trial, EG Group will convert the remaining 31 forecourts that it has retained from the £2bn sell-off to Asda.
However, nine of these forecourts hold an Asda On The Move convenience store, but hese will be converted to Spar when Asda stops supplying them in March. The move comes as the supermarket chain completed the acquisition of EG Group’s UK business this week for £2.07bn.
Ambitions to acquire over 120 roadside sites during the next three years
Commercial real estate firm Colliers has been appointed as retained agents for EG On The Move Property as it bids to acquire more than 120 new sites across the United Kingdom over the next three years.
Colliers Automotive & Roadside, Retail as well as Licensed & Leisure teams will be working with the fuel and premium brand foodservice and grocery retailer to acquire properties for in-line, petrol forecourt, food service and convenience retail development.
The requirement will focus on both roadside and retail properties. On the Move will be working with. From a roadside perspective, the acquisition team will be focusing on existing freehold and leasehold sites of a minimum 0.35 acres in size up to 10 acres, as well as new development locations with a high volume of vehicle traffic or within densely populated areas.
The search will include A-road sites, retail parks, as well as major junctions on trunk roads. The group will also be considering new roadside developments where it can locate retailers alongside services, including expanding the UK’s EV charging network.
In prime retail destinations, both on the high street, and in shopping centre locations, the team are seeking units of up to 1,500 sq ft close to student populations, office workers, transport hubs and night time economy.
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