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30 May 2019 | Retail

Farnborough’s Sycamore Convenience Store sold to experienced operator

The profitable Sycamore Convenience Store, situated in the Hampshire town of Farnborough, has been sold through specialist business property adviser, Christie & Co, to an experienced convenience store operator.

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Situated in a prime residential area, the well known community store maintains a strong loyal and local following. The store comprises a recently refurbished retail area, which provides a range of products, including newspapers and magazines, alcohol, tobacco, food to go, household goods and groceries.

Previous owner, Mr Edukulla had owned and operated the store for over five years and decided to sell the store in order to focus on his other convenience store in Farnborough. 

Sycamore Convenience Store marks the second acquisition for new owner and experienced operator, Mr Ramasamy, who is looking to extend his growing portfolio of convenience stores across Hampshire. 

Tom Glanvill, Senior Business Agent at Christie & Co’s Winchester office, handled the sale and comments, “I am delighted to have handled the successful sale of this profitable store, which was sold as a going concern. Sycamore Convenience Store attracted significant interest, with ten viewings and received six individual offers, ultimately being purchased by a local operator in a deal that was ideal for both vendor and buyer.

“I wish Mr Ramasamy all the very best as he embarks on his new venture, which I am sure will continue to be a great success for many years to come.”

Sycamore Convenience Store was sold off an asking price of £99,000 for the leasehold interest.