New owner found for South Wales community store
Specialist property business adviser, Christie & Co has brokered the sale of Burry Port Stores, a local community retail store in Burry Port in Carmarthenshire, Wales.
Burry Port is a small town on the outskirts of Llanelli in Carmarthenshire, Wales, lying on the Loughor Estuary. The town is home to the harbour where Amelia Earhart landed, becoming the first woman to fly across the Atlantic Ocean.
Burry Port Stores is situated in a prominent position on Station Road in the centre of the town and is close to the main train station. The store presented an excellent opportunity for an operator to acquire a well-positioned business, operating at a high profit margin with further potential, free of symbol group, ties that benefits from both local and passing trade throughout the year.
The business had been owned and operated by the previous owner, Tarsem Singh, for 11 years and decided to sell in order to retire. He comments, “We have worked hard to create a thriving, family run business, offering a wide range of goods and services, but felt that the time was right for us to step back and let another operator develop the site further. We are delighted that a new entrant to the Welsh market has bought the site and we wish him all the best with his future plans.”
Burry Port Stores has been purchased by Tharmaseelan Kulasingham, an experienced retail operator who has moved to Wales from Reading. He comments, "The store is a good fit for me and the previous owner has created a good customer base to continue to build on and I can’t wait to start trading.”
Jamie Williams, Business Agent at Christie & Co handled the sale and comments, “It was great to get this sale over the line. Tharmaseelan is an experienced retail operator who will look to drive customer footfall and we look forward to seeing the end result.
“The market in South Wales is currently thriving and experiencing high levels of demand and activity as more and more buyers are seeing the potential for businesses this side of the Severn.”