Specialist business property adviser, Christie & Co has completed on the sale of Duncan’s Store & Post Office, a well-established community store in Ely, Cardiff, to an experienced retail operator, with funding secured through specialist commercial finance broker, Christie Finance.
Located in a prominent position on Cowbridge Road West, Duncan’s Store and Post Office occupies a two storey property and comprises a post office and 1,100 sq ft retail area, plus two flats on the first floor, which can be used as owner’s accommodation or let to provide additional income. Situated within a residential area and near two schools, the store is popular among residents and benefits from high levels of footfall.
Previous owner, Mr Duncan Roach successfully owned and operated the store for six years and is now looking to retire.
New owner, Nasir Fazal has owned and operated his existing Premier branded West End Stores in Cardiff since June 2015, during which time he has significantly increased trade. Located less than a mile away from West End Store, Duncan’s Store presented a terrific opportunity for Mr Fazal to expand his convenience store portfolio. Mr Fazal will be supported by his wife and wider family network in running both businesses. Duncan’s Store will remain Premier branded, and Mr Fazal plans to undertake a small refit and extend the opening hours to improve turnover and profitability.
Mr Fazal comments, “I would like to thank Jonathan for helping me throughout the purchase of my second store and also to Gary Boyce for supporting me in order to fund the store.”
Gary Boyce, Director at Christie Finance brokered the best funding terms available to support the purchase of Duncan’s Store and comments, “The Fazal family is already established within the retail sector, operating a Premier branded store, enabling them to build strong working relationships with regional suppliers. I am confident Nasir and his family will grow and develop the business in the same way they have at West End Stores. I wish them the very best for the future.”
Jonathan Clements, Business Agent at Christie & Co handled the sale and comments, “I would like to wish Nasir all the best in his new store and I am sure he will take the store to another level once the refit is completed. I would also like to thank Duncan for giving me this opportunity to sell the store and I hope he enjoys a well-deserved retirement.”
Duncan’s Store & Post Office was sold off a guide price of £475,000 for the freehold interest.