HBD sells Folkestone service station in £8.5m deal

Property developer HBD has sold Folkestone service station, Stop 24, to Channel Ports Limited in a circa £8.5m deal.

A 26,000 sq. ft. retail and leisure facility at the gateway to Europe, Stop 24 has become a hugely successful service station since HBD completed the scheme in 2007.

Located just 4 miles from Dover, its 200-space lorry park has seen consistently high demand and will remain a major component of the development following its purchase by Channel Ports Limited. The existing operators of the lorry park

Adrian Schofield, Senior Director and Head of Region, said: “HBD has held Stop 24 within its portfolio for 15 years following its completion in 2007- located at Junction 11 of the M20, it is a highly successful scheme. We don’t doubt it will continue to perform well for Channel Ports Limited as they seek to expand the parking available for lorries and ensure they are able to meet growing demand.”

HBD is an award-winning developer working with a UK pipeline of £1.2bn. Its development strategy focuses on several key priorities; urban regeneration, industrial and logistics and residential.

Completed at the end of 2022, the deal was the second in a matter of weeks for HBD, having finalised the £30m sale of EAST, its Preston logistics scheme, to Titan Investors in December.

HBD’s London office handled the deal with agency advice from Grice Collins Long.

Ongoing projects include Airport Business Park Southend, Momentum London, a JV with Barings, Luton’s Butterfield Business Park and Workstown, a JV with Enfield Council.