5/20/2019 | Retail

Well established store in Southampton city centre finds new owner

Premier branded East Street Supermarket, situated in the Hampshire city of Southampton, has been sold through specialist business property adviser, Christie & Co, to an experienced operator.

The well-maintained store, which was once a Co-op but more recently has been trading as a Premier convenience store, occupies a prime location in the centre of Southampton, benefiting from the substantial residential and student population. 

The store offers customers a quality shopping experience with well laid out shelving displaying convenience and household goods, off licence goods, high margin stationery, hardware, and chilled and frozen foods.

East Street Supermarket has been purchased by Mr Ashish Soni, an experienced operator who runs other convenience stores in nearby West Sussex. Mr Soni comments, “Since taking over the store, we have undertaken some renovation work as well as hugely increasing the quantity and variety of products on offer. We have also increased the opening hours to 10pm in the week as well as now trading on Sundays from 9am until 8pm. 

“I would like to thank Tom Glanvill at Christie & Co for bringing this site to our attention and for all his hard work in bringing the transaction to a swift conclusion and we will certainly recommend Christie & Co to friends who are looking to buy or sell a convenience store.”

Tom Glanvill, Senior Business Agent at Christie & Co’s Winchester office comments, “I am delighted to have handled the successful sale of this profitable store, which was sold as a going concern. I wish Mr Soni all the very best as he embarks on his new venture, which I am sure will continue to be a great success for many years to come as he takes over the reins from the former owner.

“The volume of enquiries we received illustrates the level of demand for high performing convenience stores in the region and we expect this to continue throughout 2019.”