Euro Garages fuels growth plan

LANCASHIRE petrol station operator Euro Garages has bought three new sites, and is in advanced talks to buy a further four, it emerged today.

The Blackburn-based forecourt firm now owns and runs 75 sites in the North West and Midlands. The newly-acquired garages include a one-acre brown-field site on the Runcorn Expressway and trading forecourts on the A6 in Hazel Grove, Stockport and Wilbraham Road in Fallowfield, Manchester.

All sites are scheduled for redevelopment over the next six months. In a recent half-year trading update, Euro Garages reported that total fuel and retail sales in the six months to 31 January had climbed 16% to £125.4m, thanks to the impact of new openings and existing site redevelopments.

The company converted the majority of its forecourt retail stores to SPAR last October and is refurbishing may of its sites.

Mohsin Issa, director of Euro Garages, said the company would continue to take advantage of falling land values and lower construction costs to pursue its growth strategy.

He said: “Current conditions in the property sector have enabled us to buy, develop and redevelop sites more cheaply and quickly than before. We’re therefore continuing with a selective acquisition and redevelopment programme that will continue to enhance the quality of our portfolio.”

The company, which employs 550 people, said its full year target of £260m was on track with several sites currently in development nearing completion.

Euro Garages was founded by the Issa family in 2001.