2/16/2018 | Retail

Bath convenience store sells leasehold to experienced operators

Specialist business property advisors Christie & Co have successfully completed on Wedgewood Stores, Bath.

The Premier branded convenience store, located in the Twerton area of Bath close to the infant school, has the benefit of a Post Office counter and an alcohol licence.

The owners, Mr and Mrs Hudson, acquired the freehold store 11 years ago with Mr Hudson running the Post Office and convenience store day to day, whilst letting out the flat above.

Mr Hudson wanted to spend more time with his family so he instructed Christie & Co to create a new lease of the ground floor shop whilst retaining the freehold investment in the property.

After receiving numerous enquiries, Mr and Mrs Velusamy were the successful purchasers putting in a successful bid for the leasehold interest in the lockup store.

Mr and Mrs Velusamy previously owned a convenience store in Colchester. They moved to Bath looking to secure a leasehold convenience store in the area and Wedgewood Stores fitted the bill.

Mr Hudson comments, “I am pleased to have sold the business to Mr and Mrs Velusamy who I am sure will develop the store further bringing their experience and ideas to the business. I am looking forward to spending some more quality time with my family.”

Associate Director, David Morris, who specialises in the convenience store and forecourts sectors for Christie & Co in the South West, brokered the sale adds, “It was great to work with Mr Hudson to help him sell the lockup convenience store. In doing so Mr Hudson will retain a good freehold investment in a popular area of Bath.”

“Across the South West Region there has been a significant increase in demand for freehold and leasehold convenience stores in the first six weeks of 2018 providing they are priced correctly. It remains important to get the right advice when considering selling a going concern business.”