Convenience store in County Durham changes hands for the first time
Specialist business property adviser, Christie & Co has completed on the sale of Eden News and Discount Booze, a well established convenience store situated in Peterlee, County Durham.
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Located on a busy parade within a large housing estate, the convenience store and off license benefits from strong trade and loyal custom from the local community, despite its proximity to several larger supermarkets. The ground floor retail area offers a wide range of convenience goods and benefits from National Lottery and PayPoint services. Additionally, the property includes a well presented, four bedroom flat on the first floor, as well as accessible parking.
The previous owner decided to sell in order to pursue retirement, having owned and operated the business for 28 years.
The new owner will continue to manage the existing trade and develop the store by bringing in new, modern ideas and a wider offering, such as adding new refrigeration units and introducing chilled and fresh food.
Andrew Birnie, Director at Christie & Co’s Newcastle office handled the sale and comments, “Our client was ready to retire and instructed us to find the right buyer for their cherished store and family home. We have previously worked with them on other business interests in recent years and were pleased to help them ready their goal.
“There were a number of competing offers for Eden News, mostly from buyers looking to relocate from the South of England and find a home with a business attached in the North – a trend which we continue to see across the retail market in the region.”
Eden News & Discount Booze was sold off an asking price of £259,000 for the freehold interest.