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06 January 2020 | Retail

New owners found for Sheffield convenience store

Specialist property business advisor, Christie & Co is pleased to announce the sale of Costcutter Fife Street, a popular, fully refurbished store situated in the Wincobank area of Sheffield.

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The popular convenience store is situated amongst others, however this healthy competition did not halter the sale, and demonstrated the appetite for convenience stores in Yorkshire, with the majority of interested parties looking to relocate from southern England.

Previous owner, Mr Harrison has run the shop for several years and transformed it from £1,500 per week to £20,000 per week business within a very short amount of time. However, the time has now come for Mr Harrison to enjoy his success and retire.

Mr Harrison comments, “I would like to thank Manish for his help, guidance and advice throughout the purchase of Costcutter Fife Street.  A special thanks also to Matt Gudgeon of Christie Finance for arranging the finance for me, especially being a first-time buyer.  I would recommend anyone looking to buy a business to talk to Christie & Co. Manish and Matthew are a great team to work with, very knowledgeable and easy to talk to. Thanks again!”
 

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Manish Jadav, Business Agent at Christie & Co handled the sale and comments, “This sale proves yet again, that buyers from the south are relocating to Yorkshire for the right businesses.  A fantastic store built from scratch; Mr Harrison is now looking forward to retiring.  This deal had many ups and downs, but with two solicitors whom I have great relationships with, Matthew Gudgeon from Christie Finance arranging borrowing and myself overseeing the whole project, we managed to complete in a very short time frame. A great result, working with a great team.”

New owner Mr Selvanayagam is a commission-based operator from Bournemouth who is relocating to Sheffield to run the shop himself with his family. As a first-time buyer Christie Finance was instrumental in MR Selvanayagam’s purchase. Mr Selvanayagam comments, “I’m really pleased with the service and support provided by Matt at Christie Finance.  Matt had been excellent throughout, taking the time to understand my requirements and providing excellent advice in order to help me with the acquisition. I was impressed with the excellent terms of finance Matt was able to gain for me.”

Matt Gudgeon, Finance Consultant at Christie & Co comments; “It has been a pleasure working with Bavasuthan on his acquisition of the Costcutter store in Sheffield. First time buyers can often struggle to obtain finance when approaching lenders directly as lenders policies can be complex and widely varying. This experience can be exaggerated when overlaying the lenders appetite for the retail sector. I am pleased to have used my experience to gain funding on the best possible terms to assist with the acquisition.”

For further information on this press release, contact:
 
Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: fiona.fieldhouse@christie.com

Contact the agent:
Manish, Jadav, Business Agent
P: +44 113 389 2709
E: Manish.Jadav @christie.com
 
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