A portfolio of petrol stations has been put up for sale in a multi-million pound offer.
Project Octane is a long let portfolio of forecourt stations with integral convenience shopping units strategically located in England and Wales.
They include numerous nationally recognised brands including Esso, SPAR, Morrisons and Co-Op Foodstores.
They are on the market with Allsop for offers in excess of £27.7m with an effective annual rent of £1.6m.
All of the leases are secured against Co-Operative Foodstores Limited and Rontec Roadside Retail Limited, subject to additional guarantees from Co-Operative Group Food Limited on average lease terms in excess of 14 years, which provide for annual 2% p.a. fixed rental increases.
The Co-op/Texaco sites are in Rochester(Kent), Newport and Barry in South Wales, Basingstoke and Gosport in Hampshire and Dagenham in London.
Esso sites are based in Birmingham, Hinckley and Wigston in Leicestershire, and Keynsham in Somerset.
The sale document states: "Within the forecourt convenience market, demand for prime assets offering long leases to strong covenants remains particularly high.
"The market is one of only a few sectors where the occupiers remain active and are willing to agree 15 year plus occupational leases, with fixed or index linked rent reviews."
