Sue Sussex, who has owned and operated the store for 45 years, has taken the decision to retire, and as a result has sold the business to a rapidly expanding regional convenience store operator. Sue is now looking forward to her retirement and being able to spend more time in her local home with her recently-born grandchild.
William Trott, Business Agent at Christie & Co handled the sale and said, "We were delighted to handle this sale on behalf of Sue, who after deciding to retire and putting the store on the market, was offered the chance to do so thanks to an offer from a highly-reputable regional operator.
“It’s very unusual to see a store of this quality and standing come to the market in the area, so we were not surprised by the level of interest we experienced. The new owner is making a conscious effort to expand within the Devon and Somerset area, particularly within North Devon, so this opportunity was ideal.
“Coastal village businesses are continuing to be a favourite with potential buyers, especially given the prospects for a seasonal boost in footfall. We’ve seen that the appetite of lenders towards this type of business has been increasing, with banks being more inclined to finance businesses like this.
“I’m sure that businesses with a steady turnover will continue to remain popular in this part of the country.”