Independent retailer acquires his first store through Christie & Co
Specialist business property adviser, Christie & Co, has brokered the sale of a convenience store on Rodbourne Road in Swindon, to an independent retailer and first-time buyer in the convenience retail sector, who has big plans for the business.
The former Co Op store attracted good interest and multiple offers when it was put up for sale with Christie & Co’s Retail team in 2023.
The buyer, Mahendira Palanisamy, an experienced retailer in commission operated petrol stations, was eager to acquire a freehold convenience store and jumped at the opportunity to secure his first site.
Following a brief closure, the store has reopened and Mahendira has wasted no time in getting stuck into the business. He comments, “I wanted to re-open the store as soon as possible so that the regular customers and local community weren’t affected by the change of ownership. I am planning to refurbish the store and convert to NISA who stock plenty of Co Op products and operate the store with the help of my family. This should help me take the business to the next level and better serve the local community.”
Dave Morris, Regional Director – Retail at Christie & Co, who brokered the deal, comments, “The store represented a good opportunity for an independent operator to acquire a busy convenience store that has served the local community well. Mahendira has big plans for the business and we wish him well as he transitions across to NISA and introduces new services that will benefit the community.”
Mahendira worked with Lawrence Roberts, Regional Director at Christie Finance, Christie & Co’s sister company, to secure the funds needed to complete the purchase.
Lawrence Roberts comments, “I am very pleased to have supported Mahendira on his first convenience store purchase by obtaining a competitive funding package for him. Mahendira now has the opportunity to put his stamp on the business and continue to serve the local and passing trade, which I know will be a success!”
The convenience retail market has remained buoyant across the UK, despite the recent interest rate rises and cost of living crisis. There are plenty of buyers looking for opportunities, so we highly recommend getting in touch if you’re thinking about selling your retail business.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
P: 020 72270794 or E: bronte.hughes@christie.com
Contact the agent:
Dave Morris, Regional Director – Retail (Midlands and South West)
P: 07712 198 835 or E: dave.morris@christie.com
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