Christie & Co sell busy Cornish newsagent and convenience store just in time for the summer
Specialist business property adviser, Christie & Co have sold Mevagissey News on behalf of the Watson family, to first time operator Sarah Macandrew, whose family had previously operated a number of similar businesses in Cornwall.
Mevagissey News occupies an excellent position within the town on the main thoroughfare from the car parks to the very popular harbourside. The stores prime position allows it to benefit from a good increase in trade during the summer months where it enjoys a captive audience with little competition.
The store presented an excellent opportunity for an incoming owner, with both the freehold and leasehold options up for grabs. Sarah decided to pursue the leasehold option with the Watson family as her new landlords.
Keith and Carolyn Watson have operated the store for over 30 years with the assistance of family members including their two daughters and uncle. They are delighted that after all of their hard work to build the business up to where is it today, they can hand it over to Sarah and retire.
Keith Watson commented, “We have worked very hard all our lives in Mevagissey to build up a good customer base including locals and visitors to the town. We are pleased to be handing Mevagissey News over to Sarah and wish her luck for the future.”
David Morris from Christie & Co who handled the sale commented, “Mevagissey News presented an excellent opportunity for an owner operator to acquire a profitable, well established convenience store and newsagents in this bustling Cornish seaside town. We are seeing improved demand for the “lifestyle” type of business especially on the south west coast.”
Sarah Macandrew the new owner added, “I am delighted to be the new owner of Mevagissey News. It is going to be a challenge taking over Mevagissey News during the Feast Week festival but I cannot wait to get stuck in.”
The business was sold off an asking price of £110,000 premium for the business.