Convenience store development planned for Featherstone following the sale of a former pub
Specialist business property advisor, Christie & Co is pleased to report The Junction, a closed community pub in Featherstone has been sold to an experienced convenience retailer and is now set to become a much-needed local convenience store.
The Junction enjoys a prime position in Featherstone along Pontefract Road, amongst the busiest junctions in the village. It sits opposite ‘Colliers Court’, one of the many new housing developments currently being built in the up and coming area, which will provide 450 new homes.
The former pub, which has been closed for two years, was identified as a great retail opportunity, as the village is lacking a local convenience store to serve its growing number of residents. The large plot of land offered fantastic development potential so Christie & Co’s Hospitality and Retail teams collaborated to market the site to potential buyers across both sectors.
Following an open day which generated 13 offers, an ideal purchaser was sourced and the property was sold within six weeks of launching to the market. The successful buyer is an experienced retail operator, Kailasapillai Sivathasan of Jay Retail Limited who has purchased several stores in his portfolio through Christie & Co.
Kailasapillai comments, “Manish approached me with an opportunity for a closed down village pub. With his experience in retail and an eye for identifying locations for potential new stores, I discussed the opportunity in detail with him. Thanks to Manish, I have now acquired this property and look forward to converting it into a branded convenience store which will serve the local Featherstone community.”
Manish Jadav, Senior Retail Business Agent comments, “The former pub was identified as a great location for a branded convenience store, as the nearest store is currently outside of the village, and the site enjoys high foot fall which is only set to increase once the new blocks of flats under construction close by are completed. Having worked with Kailasapillai on numerous occasions, we’re delighted that the site was indeed the right opportunity for Jay Retail Limited.”
Alex Rex, Business Agent in Christie & Co’s Hospitality team adds, “We were instructed to sell The Junction off the back of completing several other sales in the surrounding area, including the Wakey Tavern, and we were inundated with interest. Due to our collaborative approach, working closely with the retail team, we were able to identify the best buyer in the market place for the premises and generate 13 best and final offers before concluding a successful deal for our seller.”
For further information on this press release, contact: Bronte Hughes, Corporate Communications Executive
M: 07721 420 656 or E: bronte.hughes@christie.com
Contact the agents:
Alex Rex, Business Agent – Hospitality
M: +44 (0) 7540 061864 or E: Alex.rex@christie.com
Manish Jadav, Senior Business Agent – Retail
M: +44 (0) 7701 316 593 or E: manish.jadav@christie.com
