The store has been purchased by Bhavik Patel and his father Vipinchandra Patel who plan to refit the store and increase the range of products sold, to capitalise on the potential offered by this high footfall location.
The new owner Bhavik comments, “I found the store via Christie & Co and have found them to be helpful and professional throughout the process of acquiring the store. I decided that this would be the ideal business as the location next to the local shopping centre means it has a very high number of people passing each day. The plan is to hugely increase the ranges of food and alcohol, as well as renovating the store and improving the facade.”
Tom Glanvill, Senior Business Agent at Christie & Co handled the sale and comments, “This store attracted a huge amount of interest, with over 862 buyers requesting full details. Overall, 23 potential buyers viewed the store and ultimately, we chose to accept an offer from the Patel’s who are experienced retailers and were willing to complete the deal swiftly.
“This is the twenty-second retail business I have sold this year, up on last year, and a real demonstration that buyers are willing to invest in this sector, bringing with it, employment and regeneration to town centres.”
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