Selling petrol stations is not easy.  Firstly they are a niche type of property, secondly finding buyers can be hard and thirdly agreeing a price can be complicated.  However, if you manage to overcome these three obstacles, you could be pleasantly surprised.

Petrol stations can be great investments, especially today.  As petrol prices are currently at a record high, most petrol stations are trading very well.  If you own a petrol station which is vacant, you won’t need to wait too long to find a tenant.  Further, they will want to take a long lease and be willing and able to pay a market rent.  However, if you already have a tenant, then you will be one of the few today who owns a safe investment.

There is also the development angle.  Petrol stations usually occupy quite large sites which can be appealing to developers.  Many petrol stations in the UK have been converted to offices, flats and warehouses.  However developing petrol stations can be difficult so leave it to the experts.  Planning can take a long time, you may have contamination issues and you will have to safely remove the tanks.  You will need to take specialist advice on this and the whole process will be expensive and time consuming.  So if you think your site has development potential, then it may be best to consider selling it to a developer.

If you own a petrol station which you want to sell, you don’t need to instruct an estate agent.  They will charge high fees, arrange multiple viewings and take a long time to find you a buyer.  Further, once a buyer is found, there is a good chance they will pull out.  This is because a lot of buyers are currently very nervous about the market and UK economy.  Also, most banks are currently not lending as they too are nervous.  If a buyer is found, who doesn’t pull out, they will probably take a very long time to complete the purchase.  Today, most deals are taking at least six months from start to finish.  This is a very long time and in fact too long for sellers who need to sell quickly.

If you want to find a buyer for your petrol station, just go online and search for companies which buy petrol stations.  They will be pleased to hear from you and some will be friendly and easy to deal with.  Now is probably the best time to sell your petrol station even though property values are falling.  This type of investment is currently outperforming all others as the tenants are trading well.  We may not see this sector this strong for many years to come so if you want to sell, now is the best time.

In conclusion, don’t be afraid if you own a petrol station which you want to sell.  This is currently a very desirable investment, if you can find the right buyer.