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07 October 2019 | Retail

SPAR Convenience store in the Cotswolds sold to experienced independent regional retailer

Specialist business property adviser, Christie & Co has sold the leasehold interest of the SPAR convenience store in Toddington on behalf of Sam Storer.

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Situated on a busy roundabout next to Toddington train station, the store benefits from an excellent trading position which captures passing trade and tourists visiting the Cotswolds.

The previous owner, Mrs Storer operated the SPAR convenience store for over 15 years, having previously worked as a commission operator for some of the UK’s largest independent filling station operators. Mrs Storer decided to sell the business so that she could spend more time with her family and move abroad.

Mrs Storer commented, “Having built the business up so that it could provide a valuable service to local customers and passers-by, the time was right for me to sell the store. I am looking forward to spending more time with my family and wish the new buyer all the best for the future. I would like to thank Dave Morris from Christie & Co for his help in securing a buyer and managing the sale.”

The new owners, Ben and Sarah Simons are experienced retailers who already operate four very successful independent convenience stores in the Cotswolds. They were keen to acquire an additional store as part of their plans to grow the business and the location of this store fitted well. As part of the sale, the store has benefited from a new customer car park and Ben and Sarah have plans to develop the store in the future to ensure that it evolves with the changing convenience retail sector.

Ben and Sarah commented, “We are delighted to be taking over the store, adding it to our existing business. It is a good fit for our group logistically and in a location that should work well with our other stores in the Cotswolds. We have known Dave from Christie & Co for some time and he knew we were on the lookout for another store. We would like to thank Mrs Storer for her help in transferring the business to us and we are looking forward to meeting the customers and getting stuck in.”

Dave Morris, Director at Christie & Co handled the sale and comments, “The SPAR at Toddington attracted strong interest with six offers received despite being offered to the market on a confidential basis. The stores location and carparking capacity were particularly attractive with limited competition in the area for an incoming retailer. The market remains buoyant for convenience retail businesses and businesses in the Cotswolds in particular are very sought after.”

The leasehold interest in the convenience store was sold for an undisclosed sum.