Deal done on Rushden site set to became petrol station with drive-thru coffee operator

A key site just off the A6 which is set to have a petrol station and drive-thru coffee unit has been sold.

Property developer Godwin Developments has announced the joint land, leases and investment sale of a roadside convenience site in Rushden to LondonMetric Property, the FTSE 250 listed real estate investment trust (REIT).

The deal, finalised earlier this month, includes a Euro Garages Limited petrol station and a drive-thru coffee operator, and is set to provide attractive long income to the real estate trust.

The 1.7-acre Rushden site was secured by Godwin Developments in late 2018, and the business then moved quickly to gain planning permission and blue-chip clients in just under 14 months.

Upon completion of the build, the development will deliver much needed amenities to nearby Rushden residents, the industrial estate and traffic along the A6.

The route connects Kettering, Wellingborough and Bedford, and is used by approximately 20,000 vehicles daily.

Stuart Pratt, group development director of Godwin Developments, said: “Despite the recent coronavirus-related challenges we have all faced, a solid effort was made by all parties in this transaction to secure a successful outcome."

Will Evers, at LondonMetric Property, said: “We are pleased to have secured this highly desirable roadside convenience site, which will meet the requirement of its occupiers while also delivering attractive and repetitive income for our investors immediately.

"We believe convenience assets will retain their strong performance in the future, which is why they will continue to feature in our portfolio.”

The Rushden site is set to create several full-time new job opportunities when fully operational in addition to approximately 50 temporary roles while the project is being constructed.

The Northants Telegraph last reported on this site in January, when planning documents revealed Starbucks was part of the plans.

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