Premier Johnstown Convenience Store sold at well over asking price
Specialist business property adviser, Christie & Co is pleased to report Johnstown Village Convenience Store in Wrexham, Wales has been sold at well over asking price, to an experienced operator from the south of England. Funding for the sale was secured by Christie & Co’s sister company, Christie Finance.
Ideally positioned along Johnstown’s High Street, this Premier-branded store has been owned and operated by Angela Jones for 25 years. Above the shop, it features large, immaculately presented four-bedroom owners accommodation.
Having built the store into a profitable business over the years, Angela felt the time was right to retire and brought the store to the market through Ashley Cobban, Business Agent in Christie & Co’s Retail team.
Angela comments, “After deciding to sell my business, I contacted a few estate agents but decided to go with Christie and Co, as they had sold a similar store not far from mine a few years ago. I can't thank Ashley enough for his help during the sale, as he put in a lot of hard work to generate plenty of interest and keep things running smoothly, as well as keeping me informed during the whole process.”
Ashley Cobban from Christie & Co adds, “I’m very pleased with the result we were able to achieve for Angela – well over the asking price of £449,950. The store offers the energetic new owner plenty of opportunity to grow and make it his own, such as introducing new product lines and hot food to go.”
Funding for the new owner’s purchase was secured through Lawrence Roberts, Associate Director at Christie Finance.
He comments, “After being introduced to the buyer by my colleague Ashley at Christie & Co, we endeavoured to complete the deal in a swift fashion and deliver for both the buyer and seller. The funding that we were able to secure for the new owner will allow him to take the business forward, introducing more services and products. I wish him all the best and look forward to hearing of their successes at Premier Johnstown.”
The new owner, Kanagalingam Rameshkumar comments, “I can’t thank Lawrence enough for securing the funds to help me purchase the store. I’ll be looking to extend the opening hours to begin with, so I can get a better idea of the type of new stock that should be introduced to best serve the local community. I will definitely work with the Christie network again for further expansion of my business and would highly recommend the team to anybody looking to buy a business or grow their portfolio.”
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:
Ashley Cobban, Business Agent - Retail
M: +44 (0) 7714 138 987 or E: ashley.cobban@christie.com
Contact the broker:
Lawrence Roberts, Associate Director – Christie Finance
M: +44 (0) 7702 809 566 or E: Lawrence.roberts@christiefinance.com
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