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LONDON-Welcome Break, Britain’s second-biggest motorway service station group, has appointed agents for the £300 million ($483.8 million) sale-and-leaseback of half of its assets.

Colliers CRE isoffering a select group of buyers about 12 key sites across the country. Interested parties are expected to include Rotch and London & Regional as well as some of the funds and venture capitalists.

The portfolio is seen as particularly appealing because of major difficulties in getting planning permission for any new motorway development. The other attraction is that Welcome Break sites are more than just service stations and petrol stations. They very often also include fast food outlets and budget hotels.

The disposal follows a financial review last year by owner of the chain, Middle Eastern venture capitalist Investcorp. They bought Welcome Break five years ago from Compass in a £480 million ($774.8 million) deal. Now the company’s 23 properties are said to be worth £600 million ($967.8 million).

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