High Yielding “SPAR” Petrol Filling Station & Convenience Store Investment

SPAR Service Station | The Grove | Dorchester | Dorset | DT1 1XU


subject to contract

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  • Highly prominent location

  • Property is surrounded by complementary businesses

  • VAT Free

  • Lease guaranteed by Appleby Westward Group (Turnover £169m, Net Worth £35m)

  • Over 15.5 years unexpired with no breaks

  • 5 yearly fixed rental uplifts

  • Average of over £1.8 million annual turnover for convenience store

  • Approximately £6 million of fuel sales per annum

  • Income £167,914 per annum

  • Price £2,100,000, subject to contract

  • Net Initial Yield of 7.52%

  • Guaranteed Reversionary yield 8.30% in June 2028 and 9.17% in June 2033.



Dorchester is an affluent county town in Dorset located 55 miles (88.5 km) east of Exeter, 61 miles (98 km) south of Bristol and 130 miles (209 km) south west of London.

This historic market town is a vibrant location for sightseeing, shopping and museums. The town benefits from being a tourist location, enjoying a rich history dating back to the Iron Age.
Dorchester sits conveniently by the meeting point of the A35, A37 and A354, providing excellent road communications to and from the town.

Dorchester South and Dorchester West railway stations provide regular and direct trains to London Waterloo station with the fastest journey time being 2 hours and 36 minutes.
Southampton airport is 55 miles (88.5 km) to the north east and Heathrow airport is 110 miles (177 km) to the north east.


The property is situated at a midway point on The Grove at its junction with Westleace. The Grove connects the town centre with the A37, one of the principal routes in and out of Dorchester.

Complementary occupiers in the immediate vicinity include a Volkswagen showroom (adjacent), a Mercedes-Benz showroom, a Nissan showroom, a Mitsubishi showroom and a Lidl supermarket with a large car park.

This makes the immediate location perfect for a petrol station, car wash and convenience store. The station is also one of few LPG stations in Dorset.



The property comprises a SPAR convenience store and BP branded fuel filling station with 4x8 pumps, BP Autogas (LPG), a car wash, on the ground floor and an office on the first floor.

The Spa convenience store is fitted out in line with the SPAR corporate style offering general convenience goods, a Costa express, a deli and an off licence.

There is an ATM and a self-service air pump and vacuum on site.


The property has been measured by BKR Floor Plans and provides the following floor Net Internal floor areas:

  Sq Ft Sq M
Ground Floor 1,169 108.60
First Floor 140 13.01
Total 1,309 121.61

The total gross internal area is 1,811 sq ft / 168.24 sq m.

A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £770 + VAT.



The total site area is approximately 0.29 acres.

A Phase 2 Environmental Report was undertaken by Geo2 in October 2021 and concludes that the site is considered a Low risk to human health receptors and a Low/Moderate risk to controlled water receptors. The Phase 2 report is available to download in the dataroom and will be re-addressed to a purchaser at a cost of £500 + VAT.





The property is let to Wessex Retail Limited on a full repairing and insuring lease for a term of 16.5 years from 10th December 2021, expiring 9th June 2038. Therefore, there are over 15.5 years unexpired with no breaks.

The lease is guaranteed by Appleby Westward Group Limited, whose ultimate holding company is The SPAR Group Limited.

The next rent review is effective 10th June 2023 and then every 5 years thereafter. The rent reviews are fixed at 2% per annum compounded.

The current income is £163,000 per annum which on 10th June 2023 is guaranteed to increase to £167,914 per annum. The vendor will “top-up” the income to this guaranteed level so that a purchaser does not suffer an income shortfall. The additional rent reviews provide that on 10th June 2028 the rent is guaranteed to increase to £185,391 per annum and on 10th June 2033 to £204,697 per annum.

Therefore, the purchaser will benefit from an initial income of £167,914 per annum.


Appleby Westward Group Limited (Co. No. 01791158) has reported the following figures:

  30th September 2021 30th September 2021 30th September 2019
Turnover £169,509,000 £154,493,000 £130,266,000
Pre-Tax Profits £3,029,000 £2,735,000 £2,926,000
Net Worth £35,018,000 £32,339,000 £23,094,000

The principal activity of Appleby is to sell foods, spirits, wines and tobacco products through SPAR convenience stores and supermarkets. The SPAR brand operates from more than 13,500 stores across 48 countries.

Appleby Westward Group operates over 130 convenience stores under the SPAR brand in the South West of England and hold the franchise for the entire West Country from Chichester to Lands End.

The ultimate holding company is The SPAR Group Limited who are an international group of independently owned and operated retailers and wholesalers who work together in partnership under the SPAR brand. The company is the world’s leading voluntary food retail chain.

Wessex Retail Limited (Co. No. 12205715) has reported the following figures:

  30th September 2021 30th September 2021
Turnover £21,229,922 £5,504,155
Pre-Tax Profits £291,392 (£204,862)
Net Worth £90,630 (£194,108)

The principal activity of Wessex Retail Limited is operating retail convenience stores under the SPAR brand in the Southwest of England.



The property has not been registered for VAT and therefore VAT is not applicable on the purchase price.


We are instructed to seek £2,100,000 (Two Million One Hundred Thousand Pounds), subject to contract.

This price reflects a net initial yield of 7.52%, a guaranteed reversionary yield of 8.30% from 10th June 2028 and 9.17% from 10th June 2033, assuming purchasers’ costs of 6.3%.

Please note that a purchaser will be re-charged the costs of the measured survey (£770 + VAT) and searches (£589.55 ) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of £10,000 plus VAT.


Investment Considerations

  1. An opportunity to acquire a long-let convenience store and petrol filling station;

  2. The property is let to a major SPAR operator with profits in excess of £3 million

  3. Average turnover of £35,000 per week from the convenience store

  4. Approximately 4 million litres of fuel sold per annum

  5. Long unexpired lease term of over 15.5 years with no break clauses

  6. VAT is not applicable on the sale

  7. Mutli-purpose site with car wash, parking, ATM, off licence, deli and Costa Express

  8. The lease benefits from fixed rental uplifts

  9. The property occupies a highly prominent site on The Grove

  10. The purchase price reflects an attractive net initial yield

  11. Guaranteed reversionary yield of 9.17% from June 2033

Data Room and clicktopurchase®

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Contact Us

Singer Vielle   +44 (0) 207 935 7200
Daniel Elia daniel@singervielle.co.uk +44 (0) 203 701 1353
Dale Henry dale@singervielle.co.uk +44 (0) 203 701 1356
Neil Singer neil@singervielle.co.uk +44 (0) 203 478 9120

Vendors Solicitor

WGS Solicitors  +44 (0) 207 723 1656
Miles Lester m.lester@wgs.co.uk