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14 July 2020 | Retail

Family run convenience store in Shipley sold through Christie & Co for the first time in 30 years

Specialist business property adviser, Christie & Co, is delighted to announce the sale of a Costcutter branded convenience store in Shipley, West Yorkshire.

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This Costcutter store offers convenience goods along with office-licence services. It sits in a leasehold property on a parade of complementary businesses and there is plenty of footfall from the surrounding houses, schools, and the main road for the busines to maintain a reasonable turnover. The store is located on the A657 in Shipley, a small town within Bradford, West Yorkshire, that is four miles from Bradford City Centre, 11 miles from Leeds and seven miles from Leeds Bradford Airport.

This sale offers a new owner the opportunity to expand on the store’s food-to-go offering and general services. As it is not tied to the Costcutter symbol group, there is also the chance to re merchandise the business.
 
The store was previously owned, for over 30 years, by the Heer family. Mr Jeeta and Mrs Rajinder Heer have decided to sell in order to pursue a well-earned retirement. Ms Nicky Heer, daughter of the current owners, comments, “A great thanks to Manish and James. My parents can now happily retire. I would recommend speaking to Manish if anyone is looking to sell their store. His contacts and market knowledge got us a buyer and a quick sale in the time frame we needed.”

The business has been purchased by Mr Yadwinder Singh of PNG Group. This is the Group’s sixth convenience store acquisition in West Yorkshire. Speaking on behalf of PNG Group, Mr Singh comments, “PNG plan to build the business by introducing new offers, stock lines, new services and food to go. I’m sure this won’t be the last store we buy from Christie & Co, as we are still looking to expand our portfolio.”

Manish Jadav, Retail Business Agent at Christie & Co, who handled the sale, comments, “This sale illustrates the high demand for convenience stores in Yorkshire, where buyers can get great value for money. The market is flooded with buyers at the moment looking for anything from mid-range to high turnover convenience stores. If you are thinking about selling, then this is a good time as retail remains very active.”

This Costcutter convenience store was sold off an asking price of £60,000.
 
 
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com

Contact the agent:
Manish Javad, Business Agent – Retail (North)
P: 07701 316 593 or E: manish.javad@christie.com  
 
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