Sale of convenience store owned by the same family for 100 years completes
Specialist business property advisor, Christie & Co has completed on the sale of Moore & Son Costcutter, a family-run convenience store in Long Buckby, Northamptonshire.
The store has been owned by the same family since 1919, offering prospective buyers a unique opportunity to take on a very well-established and successful business. The recently refitted freehold site services the local Long Buckby community with groceries, household goods, fresh produce and coffee, along with National Lottery and Hermes Parcel Shop facilities. The store also operates as an off license and compliant tobacco gantry.
Steve Bell, Senior Business Agent at Christie & Co handled the sale. Following an intensive three-week marketing campaign which resulted in 40 viewings and 11 offers, a final value above the guide was achieved for the vendor, Trevor Moore. Trevor is the grandson of the original owner and took over the store forty years ago. He is now looking to retire following the sale of the store.
Trevor comments, “After trading for 101 years in the same family, the decision to sell up lock, stock and barrel was a very difficult one to make. We first approached Christie & Co and brought the store to market via Steve Bell in the spring of 2017 but disappointingly, two days before exchange of contacts, the sale fell through. Within the same week, our main supplier went into administration, so we were left with no option but to put the sale on hold and concentrate on saving our family business.
Once we brought the store back to market in February this year, Steve remarketed the business, including holding an open day for interested parties. This worked extremely well and within the next two weeks an offer was accepted, and the sale went ahead.
The process was very much hindered by the arrival of COVID-19, but Steve, as promised, held our hands all of the way and managed to complete the sale. Steve has been brilliant and very understanding, and we would like to thank him for all his hard work and support. We wish him and the wider Christie & Co team all the best for the future.”
Steve Bell adds, "Family-run stores such as this with such a long history are a rare opportunity, and this one was a delight to deal with. We saw great success with the strategy agreed with the sellers, and the level of interest generated amongst buyers shows that the market is very strong and demand is high in the convenience retail sector. If you’re considering selling, please don’t hesitate to get in touch."
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:
Stephen Bell, Business Agent
P: +44 121 452 3707
E: stephen.bell@christie.com
