Pair of award-winning convenience stores in Norfolk sold through Christie & Co network
Specialist business property adviser, Christie & Co is pleased to announce the sale of two award-winning, Norwich-based convenience stores: Kenninghall Premier Store & Post Office, and Dickleburgh Premier Store & Post Office. Funding for the buyer’s purchase was secured through Christie Finance.
Kenninghall Premier Store & Post Office is located in the desirable village of Kenninghall on the outskirts of Norwich and draws most of its trade from the local community and surrounding villages. The store, which sells a large range of foods and wines, was named ‘Off-License of the Year’ at the 2019 Convenience Retail Awards.
Dickleburgh Premier Store & Post Office is located on the main road through Dickleburgh and benefits from an established loyal customer base. The store was awarded ‘Most Improved Store in the UK’ at the 2017 Retail Industry Awards.
The stores have been owned by Mike and Karen Humphreys for the last 12 years and came to the market as the couple have decided to retire. They comment, “Having just sold our much loved and expanded businesses that we owned for 12 years, we must say that Christie & Co did a great job. From start to finish they made sure we found a great buyer then ensured that the deal went as smoothly as possible.”
The businesses have been purchased by experienced retail operators, Anthony and Jenny Benedict of AJ Food Stores Ltd, marking the latest additions to their growing portfolio.
Anthony, who has exciting plans for each of the flagship stores, comments, “I have worked with Neil from Christie Finance on a few retail opportunities in the last few years and always find him to be very focused on the deal, getting offers quickly and agreeing favourable terms. If I need finance again in the future, I will certainly be contacting him.”
Funding for Anthony and Jenny’s purchase was secured by Neil Collins, Senior Consultant at Christie Finance. He comments, “I have worked with Antony and Jenny on a few stores, and I am always impressed with their knowledge and passion for the sector. I am really pleased to have obtained the required funding for them to complete their latest purchase, with a competitive interest rate and a loan to value that worked for them.”
Lewis Last, Senior Business Agent at Christie & Co who handled the sale, adds, “Christie & Co are extremely proud to have brokered this sale of two award-winning freehold stores in Norfolk. These stores generated enormous interest levels, with over 260 initial enquiries, which culminated in 38 offers. This echoes the sentiment that demand for these types of stores, remains very high.
“It has been a pleasure getting to know Mike and Karen through this process, I wish them all the best as they look forward to spending more time on their boat travelling through Europe and enjoying their retirement.
“For the purchasers Anthony and Jenny, I am pleased they have added these two high turnover stores to their portfolio as they look to further expand in the South-East region.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agents:
Lewis Last, Senior Business Agent – Retail
M: +44 7526 175 851 or E: lewis.last@christie.com
Neil Collins, Senior Consultant – Christie Finance
M: +44 7548 705 370 or E: neil.collins@christiefinance.com
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