Christie & Co appointed to support in sale of Wyevale Garden Centres
Following today’s announcement of the potential sale of the Wyevale Garden Centre business by Terra Firma, the private equity fund, specialist property adviser Christie & Co is pleased to announce its appointment to advise on the process. This high-quality portfolio of 145 garden centres, ranges from horticultural centres to major leisure destination venues.
Located across the UK but with a weighting towards the South East of England, the sites range in size from one to 108 acres and are profitable standalone business opportunities. Wyevale Garden Centres have invested significantly in the business and the majority of sites have high specification restaurants and cafes, many with children’s soft play areas. There are extensive opportunities to enhance the existing operation by introducing further income generating activity on each site.
Steve Rodell, Managing Director – Retail at Christie & Co comments, “The garden centre market is vibrant and on an upwards trajectory. In recent years garden centres have become much more than places just to buy plants, evolving to become wider leisure and retail destinations with play centres for children, restaurants and other activities designed to improve the shopping experience. These attractive consumer fundamentals with multiple income streams mean the market is likely to be resilient to headwinds experienced by the high-street.”
“The sale of Wyevale Garden Centres presents a unique opportunity for a wide range of buyers from financial institutions, existing garden centre operators, independent business people and entrepreneurs to buy well invested local garden centres within the price range of £200k to £35m. Financial institutions will be attracted to a strong business that is a platform for consolidation of the sector. Entrepreneurs will be particularly attracted into a market with the prospect of enhancing an already resilient income stream by adding their own profitable activities into underutilised ancillary space which has a multitude of potential uses. Current garden centre operators seeking to compliment or improve their existing business will also be attracted to the disposal, as opportunities of this quality rarely come to the market.”
Roger Mclaughlan, CEO of Wyevale Garden Centres adds, “This investment provides a fantastic opportunity for new long-term owners looking to enter the market and existing operators seeking to expand their current operations. Wyevale Garden Centres has been transformed beyond recognition over the last few years, and our customers are responding really positively to all the improvements we’ve been making, with improved ranges, high stock availability and exceptional garden centre standards. Our improved business has engaged colleagues and put customers at the heart of what we do. Thanks to the hard work of all of our colleagues, we remain firmly on track to grow our sales and profits this year.”
For further information on all of the sites, please visit: www.wyevalegardencentres.christie.com
