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15 February 2021 | Retail

Central Stores in Sherburn, Malton sold through Christie & Co

Specialist business property advisor, Christie & Co has completed on the sale of Central Stores, a freehold village convenience store located in Sherburn, North Yorkshire.

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Located on the main street, the well-established store has been at the heart of the sought-after community, providing residents with newspapers, magazines, convenience and essential goods, since 1905. The property also includes a refurbished owners’ flat and a large, well-maintained private garden to the rear, which attracted a range of interested buyers when the previous owners, Julie and Amy Luke made the decision to bring the business to market.

Commenting on the sales process, Ms Luke said, “We have loved being part of the Sherburn community as both business owners and residents. The store had been marketed by another agent for some time without success before we turned to Christie & Co for their expertise. We are very grateful that they were able to find the right buyer, despite much of the uncertainty throughout 2020, and we wish the new owners all the best in carrying on the business.”

Central Stores has been purchased by Mr and Mrs Tharmaseelan, previous residents of London who are following the trend of many others in moving to the region, in search of a good standard of living. 

They comment, “We are thrilled to have acquired the business and look forward to relocating to the area. Many thanks to Christie and Co and Andrew in particular, who went above and beyond to find us the perfect store and help us once the offer was accepted.”

Andrew Birnie, Director in Christie & Co’s Retail team handled the sale and comments, “Coming from England’s south, Mr and Mrs Tharmaseelan didn’t know any local solicitors, so we utilised out network and put them in touch with Gordon Brown of Clarke Mairs. This was key to overcoming issues with the funding process and keeping the deal on track against a backdrop of the ongoing COVID-19 pandemic. It also highlights the benefits of appointing a specialist broker to manage the sale of a business such as this one.

“An increasing number of buyers from the south are registering with us in search of a good business and new lifestyle in the North East and Yorkshire region, likely due to the impact the pandemic is having on high street retail in city centres and the shift towards localisation. Anyone running a business in these locations and considering bringing it to market is encouraged to get in touch, to capitalise on the current demand.”

Central Stores was sold on a freehold basis off an asking price of £395,000.
 
 
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
 
Contact the agent:
Andrew Birnie, Director – Retail
P: +44 (0) 7734 553 272
E: Andrew.birnie@christie.com
 

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