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18 March 2021 | Retail

North Wales convenience store sold within a month through Christie & Co network

Specialist business property advisor, Christie & Co is pleased to announce it has completed on the sale of Nisa Local London Road, a large freehold convenience store, located in the sought-after town of Corwen, Denbighshire in North Wales. Notably, the store was under offer within a month of coming to market with a multitude of viable parties expressing serious interest.

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The profitable business is well-equipped and requires no further investment, which made it an attractive opportunity to a wide range of prospective buyers and Christie & Co were inundated with enquiries as a result. Following a number of viewings and offers within the first month of launching on the market, an offer was accepted from Mr Mayurkumar Paladiya, who plans on increasing turnover at the store under the Nisa symbol banner and is excited to become a part of the local community.

James Moore-Martin, Director in Christie & Co’s Retail team handled the sale and comments, “I am delighted to have completed the sale for both the buyer & vendor and wish them both the best of luck for the future. The vendors instructed Christie & Co within the COVID pandemic after a private approach from a prospective purchaser proved to be unsuccessful. Christie & Co managed to secure a swift deal to a viable party after a short but extensive marketing process, thus highlighting how a professionally run process with our retail experts will give sellers the best chance of maximising proceeds, versus a potentially risky off market deal.

“Alongside Christie Finance, we also assisted the buyer with funding despite the challenging market conditions. The freehold store was achieving weekly sales in excess of £30,000 with significant potential to increase turnover.”

The previous owner, Merle Westbury adds, “I would like to say a huge thank you to Christie & Co and especially to James Moore-Martin for all their expertise help in achieving top price for my store within one month of going on the market.   I really didn't think for one moment they would manage it!... Certainly, proved me wrong!!
Nisa Local London Road was sold on a freehold basis off a guide price of £999,950.
 
 
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:
James Moore-Martin, Director – Retail
P: +44 (0) 7764 241 288
E: James.moore-martin@christie.com
 

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