9/25/2018 | Retail

Spar store in Fife sold to first time owner through Christie & Co

Specialist business property adviser, Christie & Co has completed on the sale of a Spar branded convenience store in the village of Oakley in Fife, just five miles west of Dunfermline.

The site was previously owned by a local retailer, Waseem Ahmed, who is well known in the community and decided to sell the store in order to pursue other business interests around the area. New owner and first time buyer, Kimberly Kay is experienced in the retail sector, most recently having successfully operated two forecourts under licence in Glasgow for a national company.

Kimberly Kay comments, “While I never planned to have a career in retail, my interest took off working as a part-time assistant in a friend’s store and quickly developed. Within a couple of years, I was fortunate to secure my first commission operator forecourt, then another and after that, I was hooked. It gave me a wider insight into convenience retailing and the confidence that one day I would run and manage my own store. I managed to secure the Oakley Spar with the help of Daniel at Christie & Co and his team. I see the opportunity to not only develop this store within the local community, but also to enhance my own knowledge and experience, which in time will lead to owning more stores.”

Daniel Arrandale, Director at Christie & Co’s Edinburgh office comments, “The sale of Spar Oakley is a continuation of a strong year for retail business sales across Scotland. Underpinning this success is quality branded convenience stores, with rural and out of town opportunities in particular offering more security for would-be owners, with less intense competition from supermarkets and discount multiples.

“It is always good to see new entrants coming into the market, and in this case, we have a young, dynamic and entrepreneurial female taking the next big step in her career and becoming fully self-employed. We wish Kimberly all the best in her new venture.”

The site was sold in an off market transaction for an undisclosed sum.