Spar store in Caerleon sold to developer through Christie & Co
Specialist business property adviser, Christie & Co, is delighted to announce the sale of a Spar branded convenience store in Caerleon, Newport.
This Spar store sits on the ground floor of a mid-terraced Victorian style property, and sells a range of stationery, groceries, and other confectionery goods. It comes with a large three-bedroom owner’s accommodation above, which would benefit from modernisation throughout. In doing so, the monthly income from letting the property could be improved.
The business is located in Caerleon, a popular suburban village on the River Usk, South Wales. Caerleon is a site of archaeological importance as it was there that a notable roman legionary fortress and an Iron Age hill fort once stood. These attractions are popular with tourists and school parties, thus creating extra footfall for local businesses.
Spar Caerleon was previously owned and operated by Mrs Yin Loo, who comments, “I have operated my convenience store for almost 32 years now, through which time the sector has changed and evolved massively, especially after the relaxation of the Sunday trading laws. I feel it is now time for me to throw in the towel and join the retirement realm - I am quite excited about pursuing my hobbies and am looking forward to spending more time with my family and friends.
We wouldn’t have made it this far without the support of our loyal customers, and the dedication and hard work of our staff. It has been a great honour to watch families grow and share in their trials and tribulations. We thank them for their patronage, kindness, and friendship over the years, and will miss them all. I am grateful to Christie & Co for marketing our property and the continued support given by Dave and Jamie throughout the sales negotiation process.”
The store has been purchased by Mr Mark Sawkins of Sawkins Properties who is an experienced local businessman with another business and several properties in Caerleon. On his new acquisition, Mr Sawkins comments, “Having dealt with many Estate Agents over my 30 year property career building a substantial mixed portfolio of residential and now commercial property, I’ve learnt that it’s not an Estate Agent you need, it’s a partner in property, and Christie & Co have certainly proven to be just that. With their help, I’ve now acquired a further substantial freehold property with a great post code, perfect for my plans for conversion into four luxury apartments and retail unit.”
Retail Business Agent at Christie & Co, Jamie Williams, who handled the sale, comments, “With 20 viewings and seven offers, the business attracted a variety of potential buyers due to its location, fair price and development opportunity. I am delighted we were able to complete the sale for our clients in these challenging circumstances and urge any business owners considering selling to get in touch, as the market continues to improve.”
Spar Caerleon was sold at an undisclosed price.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com
Contact the agent:
Jamie Williams, Business Agent - Retail (South West)
P: 0117 946 8507 or E: jamie.williams@christie.com
