5/21/2018 | Retail

North Wales convenience store gains experienced new owner

Specialist business property adviser, Christie & Co is pleased to announce the off-market sale of a Premier branded convenience store and post office located in the centre of Penygroes village in Gwynedd, North Wales.

The high turnover site is ideally situated on the village’s high street and is heavily frequented by the local community as a convenient one stop shop, offering groceries, off license, and post office services.

Former owner Richard Owens instructed Christie & Co to sell the site to pursue a well-earned retirement, he comments, “I was really happy with the assistance James and Christie & Co provided during the sale of my business. Sales like this are stressful by their nature, and James was always on hand when things became difficult. Once again, thank you very much.”

The site has been sold to the Kamalanathan family who possess a wealth of retail convenience experience and hope to increase the product lines on offer within the store. They comment, “We have now settled in at the site and will be sure to keep in touch with James moving forward.”

James Moore-Martin, Associate Director at Christie & Co’s Manchester office, who handled the sale, comments, “This high turnover site is another example of the current buoyant market for good sustainable retail businesses within the North Wales region. The site was sold confidentially and went under offer within a swift timescale.”

The freehold of the store was sold off an undisclosed sum.