The fund has also recently acquired a roadside investment in central Glasgow, with further acquisitions being considered to add to the growing portfolio.

As part of the Pitstop portfolio, HOF has acquired three In’n’Out Autocentres in Cardiff, Northampton and Wednesbury, along with a roadside asset in Oswestry, Shropshire, let to Gastronomy Foods (trading as KFC), Asda Express (trading as Starbucks) and OK Diners.

In Glasgow, the fund now owns a roadside site on Castlebank Street, home to Burger King and Starbucks, together with an EV charging station let to SSE Utility Solutions.

The acquisitions form part of Cube’s new roadside strategy, which will be led by its dedicated roadside team following the appointment of Tom Morley earlier this year. This will include site sourcing, planning, development, and asset and investment management.

Nic Lowry, Investment Director at Cube, says: “We are very pleased to have concluded these initial acquisitions to kick-start our roadside portfolio. These assets act as seed investments for a wider roadside platform strategy, offering strong income returns from good covenants in a sector experiencing increasing demand from both incumbent and new operators. We continue to look at further opportunities — including standing investments, forward-funded developments, and sites with strong roadside fundamentals — to complement the assets we’ve already acquired.”

EYCO and Brodies acted for HOF on the Glasgow acquisition, with Xprop and Gowling WLG providing tenant and legal advice on Project Pitstop.