10/30/2018 | Retail

Fareham convenience store sold to experienced local operator

Specialist business property adviser, Christie & Co has brokered the sale of Best One, a well-established convenience store situated in the Hampshire town of Fareham, nine miles north east of Portsmouth, to an experienced local operator.

Situated in a small shopping parade, Best One currently benefits from a high volume of passing trade and a strong local following, being the only convenience store in the immediate vicinity. Benefitting from a well-presented 1,100 sq ft retail area with an extensive array of modern shelving and refrigeration units, the store offers a broad range of goods and services, including newspapers and magazines, off licence, National Lottery and PayPoint, as well as a vast array of convenience products.

Having owned and operated the store for over 10 years, the previous owner decided to sell in order to focus on other business interests. The store presents a prime opportunity for the new owner to drive the business forward and increase sales by introducing additional profitable convenience store lines, including hot food and drink sales. 

The previous owner comments, “I am very happy to have completed the sale of my store. Jack dealt with the whole process from start to finish, and even when he was away on holiday Jack still chased up the buyer to make sure everything was being done when it should be. It was very helpful to have a single point of contact and I would definitely recommend using Jack and Christie & Co to sell your store!”

Jack Dudley, Senior Retail Agent of Christie & Co’s Maidstone office handled the sale and comments, “This sale demonstrates the continued strong 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 to strengthen as we enter 2019, making it a great time for retail business owners in the region who are considering a sale.”

Best One was sold off a leasehold asking price of £169,950.