Convenience store in Newcastle acquired by local operator
Specialist business property adviser Christie & Co has announced the leasehold sale of the Premier-branded convenience store on Etal Way in Newcastle upon Tyne.
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The modern local store has been run by the former owner for many years, who decided to sell the store lease to allow them to retire.
Following a sale process with Rob O’Brien, Senior Agent at Christie & Co, the store has been acquired by a multiple operator with another store in the local area and several more in the North East.
Rob O’Brien from Christie & Co commented, “This transaction demonstrates the resilience we are seeing in the convenience retail sector. Despite broader economic uncertainty, appetite remains strong among buyers looking to acquire stores that offer essential goods and services to the local community. We are pleased to have assisted the outgoing owners who can now enjoy their well-earned retirement.”
The store was let at an undisclosed price.
For further information on this press release, contact:
Jasmine Davis, Corporate Communications Manager
P: +44 7561 115179
E: jasmine.davis@christie.com
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