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Cadnam convenience store sold through Christie & Co

Specialist business property adviser, Christie & Co has brokered the sale of Chalk’s of Cadnam, a well-established convenience store situated in the Hampshire village of Cadnam, to regional corporate operator, Denovo Retail.

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Located on the A336 between Southampton and the New Forest, the well-regarded and profitable convenience store has been acquired by Denovo Retail, who plan to reopen the store by the end of September following a refurbishment programme under the Southern Co-operative brand.

Previous owner, Mr Chalk is looking forward to his upcoming retirement and comments, “I would like to wish Denovo Retail all the very best in their purchase of my store and for its transformation into a Southern Co-op. I have owned this store for 14 years now and wanted to leave the village with a true legacy and I feel they will do a superb job as I head off to a well-deserved retirement. I would also like to thank Tom Glanvill at Christie & Co for his admirable handling of every aspect of the sale from the very first day to completion – a thoroughly professional performance.”

Tony Start, Director of Denovo Retail comments, “Roger has done a great job over the last decade in establishing a good business. We intend to significantly renovate the store and will be presenting a new offering, following a 10 day refit. The store will reopen under the Co-op brand, which we believe will improve the offer presented to the customers of Bartley and Cadnam.”

Tom Glanvill, Senior Business Agent at Christie & Co handled the sale and comments, “We are delighted to have facilitated the transaction and wish Denovo Retail every success in what I am sure will be a strong business for many years to come.

“This sale demonstrates the continued demand from buyers for good quality retail businesses in the South, with both investors and lifestyle purchasers showing interest in well run convenience businesses. We anticipate this demand strengthening as we enter 2019, making it a great time for retail business owners in the region who are considering a sale.”

Chalk’s of Cadnam was sold off a leasehold guide price of £80,000.

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