More great news from ROAD today.13 Dec 2024 07:20
Great news from ROAD today. No wonder we've gone from 3p to 30p in 12 months and will probably test 40p a share very soon. Today ROAD has announced an agreement to acquire Brampton Hut services at the junction of the A14 and A1 near Huntingdon in Cambridgeshire.
The details:
* The initial consideration for the Acquisition is £4.81 million which will be funded from the JV's existing cash resources.
* Lettable space of 8,617 sq ft across six units leased to Starbucks, Greggs, Wendy's, Subway and Burger King, providing approximately £0.35 million of net operating income to the JV annually.
* 74 car parking spaces, creating ample opportunity for EV charging infrastructure.
* Following completion of the Acquisition, Gridserve Electric Hubs will install 10 EV charging points at the site, which are expected to become operational in the first half of 2025.
* Once installed GridServe will enter into a new 20-year index-linked lease to operate the EV charging infrastructure.
Quote from Chairman of ROAD:
"The JV has almost deployed £100 million in just over 13 months and it looks forward to adding further assets in due course. Brampton Hut is a high-quality cluster of ESG-compliant Drive Thru and Drive2 units, let to household names at the junction of the A14 and A1, an area recently enhanced by £1.5 billion of investment in new road infrastructure.
"The expansion of EV charging infrastructure at the site will serve passing traffic alongside a major transport interchange, providing important amenities that drive footfall at the site and enhances its desirability to tenants."
Excellent news....
Good luck, Brighty