Suffolk village convenience store sold through Christie & Co
Specialist business property adviser, Christie & Co has successfully completed the sale of Budgens Long Melford, a convenience store in Suffolk. Funding for the purchaser was secured through Christie Finance.
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Located in the idyllic village of Long Melford, the store occupies a historic building on the main road and is heavily relied upon by locals for its wide range of products.
The Budgens branded store has been owned and operated by Simon Barrett and his daughter Francesca for almost six years.
Simon, who sold the store in order to retire, comments, “After nearly six years of running and operating this store, we decided to make the difficult decision to sell. Thank you to Christie & Co and in particular Lewis for his assistance and guidance throughout the process. We are confident the buyer we found will understand our customers and their needs, and we wish him all the best for the future.”
The business has been purchased by an experienced local operator, who comments, “Thank you to Lewis and Christie & Co for helping me secure this shop. I am excited to add this store to my portfolio and look forward to continuing the great work Simon has done. Thank you to Neil for the work he has done too.”
Neil Collins from Christie Finance, who secured the funding for the buyer to complete the purchase, comments, “I’m really pleased to have obtained the required finance on this deal, we worked closely with the buyer and Christie & Co to work through the lenders' requirements quickly and complete the deal. The buyer is an experienced operator but understood that using a specialist commercial broker on deals such as this means the process is a lot smoother for all involved. I look forward to working with them on their next deal.”
Lewis Last, Senior Business Agent at Christie & Co who handled the sale, comments, “Firstly, I am really pleased for Simon and his daughter Francesca on the sale of this store. Whilst the deal had its challenges, all parties remained committed to achieving the end goal.
“The opportunity was very well received by the market and attracted multiple bids which continues to echo the sentiment that similar stores remain in very high demand. For the buyers, they are local operators with vast experience in the area. I am sure they will continue Simon and Francesca’s great work and make every success of the store. I look forward to working with them again on future acquisitions and potential disposals.”
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
P: +44 7526 175 851 or E: lewis.last@christie.com
Neil Collins, Senior Consultant – Christie Finance
P: +44 7548 705 370 or E: neil.collins@christiefinance.com
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