5/20/2019 | Retail

Angus Spar store sold following 20 years of ownership

A Spar branded convenience store and post office situated in Letham, a charming rural village near Dundee, has been sold through specialist business property adviser, Christie & Co, to an experienced father and son operator team.

Surrounded by farming and agricultural land, Letham maintains a population of around 2,000 residents and the well established and modern store provides a key service for the local community. Offering general convenience goods, off licence and a post office, the business plays an essential role in daily life for many of the residents.

Following 20 years of ownership, previous owners, Andrew and Yvonne Collins decided to sell in order to pursue a different career path and comment, “It has been a great privilege to serve the community of Letham and we wish Raghbir and Kurtis every success for the future.”

The business has been purchased by father and son duo, Raghbir and Kurtis Dhinsa, who are both experienced retailers from Ayrshire, having previously operated a large convenience store in the town of Mauchline. Raghbir comments, “We’re delighted to have finally purchased the business and our new home, which is part of the reason we decided to make the move. After nearly two years out, we’re excited by the new challenge and a store that is very much at the heart of the local community.”

Daniel Arrandale, Director at Christie & Co handled the sale and comments, “This opportunity is a fine example of a village convenience store, with modern and well-presented retail premises. Despite several challenges along the way, I am delighted to finally confirm the sale of this Letham store.

“Andrew and Yvonne’s continued reinvestment back into the premises was essential to maintaining healthy support from local customers. The longevity of their success at this store is certainly attributable to their willingness to support local community events and groups from the outset. We wish them all the best in their new ventures.”

The property was sold off an asking price of £325,000 for the freehold interest.