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14 February 2020 | Retail

Convenience store and post office in Yeovil sold to regional multiple operator

Specialist business property advisor, Christie & Co has completed the sale of the Key Stores in West Coker, Yeovil on behalf of Mr Roger Hardisty.

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The store was part of Keys Stores Yeovil, a small group of three convenience stores with a Post Office. Roger sold the first two stores in 2018 through Christie & Co, retaining the store with the Post office in West Coker Road, Yeovil. The leasehold interest for this store was acquired by Wessex Retail, with the benefit of the income from two flats, a small barbershop adjacent and a mains Post Office included in the contract.
 
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Roger Hardisty comments, “Having operated convenience stores for over 30 years I am delighted to pass this store onto the new buyer and retire from the trade. Dave Morris of Christie & Co helped me sell the first two stores in the group and my final store in West Coker Road. Dave’s help throughout the process has been invaluable, and I wish the new owners all the best with their future plans for the store.”

Following a focused marketing campaign that attracted multiple bids, an expanding regional operator based in the South West was secured as the successful buyer by Christie & Co. The new buyers are planning to completely refurbish and re-brand the store, however the Post Office will be retained, as it is an important service that the store provides to the local community.

David Morris, Director – Retail at Christie & Co comments, “The appetite for convenience stores remains strong providing they are priced correctly. Many buyers see the Post Office as an important footfall driver pulling local customers into the store. We expect demand for convenience stores to remain unchanged throughout 2020 in a sector that continues to grow year on year.”

Christie & Co sold Key Stores West Coker of a guide price of £150,000 for the leasehold interest.