Specialist business property adviser, Christie & Co has completed on the sale of Holland’s of Milford, a community convenience store located in the beautiful seaside village of Milford on Sea, Hampshire.
Situated just south of the New Forest National Park, the traditional village offers a rich history dating back to the 11th century, when it was established as a Saxon settlement. The store is situated on the High Street, close to the village green and a range of other shops, restaurants, cafes and pubs. It services the local community with an excellent range of grocery items including fresh and baked goods and a well-stocked deli counter.
Holland’s of Milford has been owned and run by Mr and Mrs Holland for over 20 years. Having built a loyal customer base, the pair made the decision to bring the store to market as they felt the time had come to pursue retirement.
Despite the store coming to market during the COVID-19 lockdown, Tom Glanvill, Associate Director in Christie & Co’s Retail team generated an exceptional level of interest in the sale, which resulted in several individual offers. The well-established business currently sits in a great trading position but also offers plenty of growth potential, which prospective buyers identified as an ideal opportunity.
Mr Holland comments, “We are very pleased with our decision to have Christie & Co represent us for the sale of our shop. We were impressed by Tom’s depth of knowledge of the market, his careful vetting of potential purchasers before viewings and his ability to overview the sale and smooth out any issues. Tom was always available and approachable, and we are very grateful for his help in finding the perfect buyer to carry on the business.”
The successful purchaser, Kularaj Pathamanathan, is a first-time buyer who is delighted to have secured his first shop.
Tom Glanvill from Christie & Co adds, “This business was a pleasure to market for the owners, who were looking to retire after many years of running the hugely popular village store. The level of interest generated during the lockdown period was exceptional. In the end we agreed to sell to Mr Pathmanathan, a first-time buyer who will no doubt bring fresh enthusiasm and energy to the business.
“Convenience retail has become an incredibly attractive sector to invest in and we are currently seeing an increasing demand for lifestyle businesses such as this. I encourage anyone currently operating a similar-sized business, and considering selling, to get in touch.”
