9/5/2019 | Retail

Lancashire convenience stores sold to experienced operator

Specialist business property adviser, Christie & Co has completed on the sale of a Nisa branded convenience store in the Lancashire Village of Euxton, between Chorley and Clayton-le-Woods, to a new entrant to the UK convenience retail sector, who has nevertheless gained significant retail experience in his native Sri Lanka.

Occupying a prominent corner position within a parade of shops, the store benefits from off road parking and provides a range of household products, confectionery, bakery goods, dairy, canned goods, tobacco and alcohol, as well as offering National Lottery and PayPoint services, and an on site cash machine to residents in the surrounding areas.

The store was one of two in the area operated by the Sanghani family, and the owner, Ajit Kumar Kunvarji Sanghani sought a sale of the lease in order to focus his efforts on the family’s other store. He comments, “We’re really pleased to have achieved a sale, and are grateful to Christie & Co for their assistance. This will enable us to focus on our efforts on our other store and to spend more time together as a family, which we’re very much looking forward to.”

Buyer Jayanath Bopearachchi is an experienced retail operator, who owns a number of award winning convenience stores in Sri Lanka, with this purchase marking his first UK acquisition. Jayanath comments, “I’m excited to have acquired my first store in the UK. The business has lots of potential which I’m keen to develop, and this purchase will hopefully be the first of many across the region.”

Ashley Cobban, Business Agent at Christie & Co handled the sale and comments, “We’re pleased to have assisted Ajit in finding a buyer for the store, Jayanath is ready to hit the ground running and I’m sure the community will extend to him a warm welcome, just as they did with the Sanghani family.”

“Well presented, village convenience stores remain a popular choice for both first time buyers and expanding operators throughout the North West, as such we continue to see healthy demand for new opportunities from a variety of potential purchasers.”

The Nisa branded convenience store was sold on a leasehold basis off an asking price of £119,950.