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31 August 2018 | Retail

Stockport convenience store sold to first time buyer through Christie & Co

Specialist business property adviser, Christie & Co has completed the sale of Loco Store & Post Office in the Stockport suburb of Heaton Norris to a first time buyer and new entrant to the convenience sector.

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Located on a busy main road within the densely populated residential area, the business trades under the Loco banner and provides a full range of convenience products including magazines and newspapers, alcohol, tobacco, confectionery and groceries. The store also offers National Lottery and integrated post office services, serving a range of needs for local customers and regular passing trade.

Previous owners Balbir Singh and Ranjinder Kaur, both of whom operated the business full-time, comment, “Having renovated the store in 2015, we have chosen to sell Loco Store & Post Office so that we can focus our efforts on our other business interests.”

New owner Thomas Berhane made Loco Store & Post Office his first purchase in the convenience sector and looks forward to purchasing additional convenience stores in the area, in order to build a portfolio that can be run under management. He comments, “Ashley Cobban and Christie & Co have been great throughout the whole process and have made buying my first business a whole lot easier. I would like to thank them for their help.”

Ashley Cobban, Retail Business Agent at Christie & Co who handled the sale, comments, “Having generated substantial interest, with numerous offers, it’s great to see Thomas take ownership of Loco Store & Post Office. With his enthusiasm, I’m confident that the business will go from strength to strength under the new management. At present there are a number of exciting convenience store opportunities arising throughout the region. The market for high quality stores remains strong, and I would urge both buyers and sellers to consider their plans now in order to take advantage of this.” 

Loco Store & Post Office was sold off an asking price of £69,950 for the leasehold interest.