Tess acquired Prestbury Stores in 2014 identifying the store’s potential in this affluent village, located on the outskirts of Cheltenham, close to Cheltenham race course.
Identifying further potential in the store, Jerry Tweney who worked for Warner’s Retail as a store manager, was the successful buyer. The opportunity was perfect for Jerry who lives locally and has known the store for many years.
Jerry is going to introduce a number of new services to the store including a sit in cafe area, home delivery, locally sourced bread, meat and produce. Jerry also hopes to expand the hot food to go offer.
Jerry Tweney comments, “I am delighted to be taking on Prestbury Village Stores. This stunning grade two listed thatched roof building presents a fantastic opportunity. With a significant increase in range especially in fresh foods and food to go I believe this is the ideal starting point for Tweney Retail. A conversion to the Budgens brand has taken place and their strong focus on fresh product sits perfectly with the fine range of local food we will add to the store. I had been looking for our first site for a while and my thanks go to Dave Morris at Christie & co for his steer through the process.”
Dave Morris, Senior Business Agent at Christie & Co adds, “Prestbury Village Stores is very well known in the local area and used to be visited every year by the Queen Mother when she attended the Cheltenham Gold Cup horse races. The store is ideal for a first time owner and offers good potential due to the size of the trading area. The market for lower premium leasehold businesses is benefitting from a surge in activity as operators and investors turn away from the residential buy to let market.”