Biddick town centre Londis sold through Christie & Co
Specialist business property advisor, Christie & Co has completed on the leasehold sale of Londis Biddick, a general convenience store, off licence and newsagents located in Biddick, Washington Tyne and Wear.
Londis Biddick boasts an enviable position in the village centre and has been operated by Mrs Haire and her son Purdeep for the past 22 years. The Haire’s purchased the newsagents separate to the off license next door, before combining both businesses by removing the party wall and carrying out a refit at the time. This gave more space to offer a better service to local customers.
Mrs Haire made the decision to bring the store to market through Christie & Co’s in order to retire. Andrew Birnie, Director in Christie & Co’s Retail team handled the sale.
The store has been purchased by Mr Ali, a local within the area who is very experienced in the convenience retail sector, having run similar businesses elsewhere in the North East. Mr Ali plans to rearrange the shop layout to make more shelving space and introduce more products, including fresh and chilled foods, whilst also being mindful of keeping good space around the aisles to keep this a comfortable shopping experience. Mr Ali looks forward to becoming part of the community and bringing his new ideas to the store.
Mrs Haire comments, “We chose Christie & Co and specifically Andy Birnie to sell our business as we have known him for years. He has sold convenience stores for family members and knows the market inside and out. We trusted Andy to get the best deal for us and knew he would help chasing the sale through to completion, thank you for all your help.”
Andrew Birnie from Christie & Co adds, “We are thrilled to have completed on the sale of Londis Biddick. The store is situated in a nice residential area in Washington Tyne and Wear, so many buyers identified this as an ideal opportunity, yet as there is no accommodation it was expected the buyer would be reasonably local, which was the case with Mr Ali.
“Since last year, thanks to the boost from COVID-19, convenience stores, both freehold and leasehold have been in high demand and this does not appear to be letting up. We have observed an increase in new registrations for convenience assets on our website for the past three weeks in a row, so we are keen to talk to owners looking to sell.
“I wish Mrs Haire a great retirement and the best of luck to Mr Ali with his new business.”
Londis Biddick was sold off a guide price of £125,000 for the leasehold basis.
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Executive
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agent:
Andrew Birnie, Director – Retail
P: +44 (0) 7734 553 272
E: Andrew.birnie@christie.com
