Roadside Real Estate PLC has announced plans to sell its entire Commercial Property business to Tarncourt Properties Limited in a deal worth around £12 million.
After deductions for third-party borrowings and working capital adjustments, Roadside expects to receive net proceeds of £4.7 million. The company said this will be used to reduce its outstanding debt under the Tarncourt Facility, leaving £5.0 million remaining payable and £7.0 million still available to draw.
Alongside the sale, Roadside intends to extend the maturity of the Tarncourt Facility to April 1, 2028, and increase its size to £12.0 million.
The disposal, which is classified as a related-party transaction, is conditional upon shareholder approval at a General Meeting scheduled for September 29, 2025.
Commenting, Chairman Steve Carson said: “This is an important step in streamlining the Group in line with its strategic focus.
We believe the roadside retail assets have the potential to generate significant returns for Shareholders and Roadside continues to seek, and is currently evaluating, a number of opportunities to acquire further roadside retail assets to meet evolving consumer demands.
The Directors believe that the Disposal is in the best interests of shareholders and will promote the success of the Company for the benefit of its shareholders as a whole.”
