7/16/2018 | Retail

Solihull shopping centre convenience store has a new owner

Specialist business property adviser, Christie & Co has completed on the sale of Newsflow, a newsagents in Touchwood, Solihull. Situated in a popular shopping centre in the town centre, the newsagents offers a range of confectionery, news, tobacco and lottery tickets.

Previous owner, Avatar Singh had owned and operated the business since the Touchwood Court shopping centre opened in 2001, alongside several other stores across the West Midlands, which he has divested over the last few years. Located near the cinema, the newsagents benefits from busy thoroughfare and presents the opportunity to expand the existing offering.

Having decided to sell the store in order to retire and spend more time with family, Mr Singh comments, "I came to Christie & Co because as far as I’m aware they are the market leader for sales of this nature and I wanted to achieve the best price in a timescale that suited me. Stephen Bell at Christie & Co has been attentive and professional throughout and thanks to his hard work, we have managed to sell the store at a figure and in a timescale that suited my needs. I would recommend anyone thinking of selling their store to speak to Steve for honest and professional advice as he has shown me that he is able to get results."

New owner, Bobby Singh is a first time owner in the retail industry with previous experience in car sales. Mr Singh comments, “I’d like to say a big thank you to all at Christie & Co and especially Stephen Bell, who handles a smooth sale from the start. I’m happy to now be in business in Solihull under the new company name, News 4 U Solihull LTD only weeks after the first enquiry was made. I will be recommending Christie & Co’s services.”

Stephen Bell, Senior Business Agent at Christie & Co handled the sale and comments, "The level of interest we received in the sale of this business shows that the interest in the retail market is still strong, and people are seeing it as a great way to get into a profitable business and be your own boss."

Newsflow was sold off an asking price of £50,000.