Specialist property adviser, Christie & Co, has recently announced the sale of Lifestyle Express, a freehold convenience store located in Pontypridd, South Wales.
Lifestyle Express is a profitable business holding a prominent corner location in a residential area of Pontypridd. This is the first time that the store has come to market since 1994. Our client, Jeff Speck, has been at the helm for nearly 27 years and has decided to sell in order to pursue retirement.
He comments, “Having operated the store for over 26 years I am delighted to pass this store onto the new buyer and retire from the trade. Christie & Co helped throughout the process and have been invaluable. I wish the new owners all the best with their future plans for the store.”
The store has been purchased by Selvamenan Selladurai, an experienced local operator who is currently marketing his business, a Nisa Local store in Brynhyfryd, Swansea, through Christie & Co. He plans to renovate and rebrand the store, introduce a variety of new product ranges and promotions along with a larger hot food offering, in order to increase profit margins.
Selvamenan Selladurai comments, “I’d like to thank Jeff and Jamie for their hard work in helping to complete the deal swiftly. The store has been successfully run for a long period and I am excited to bring fresh ideas to the business and grow it further.”
Jamie Williams, Business Agent at Christie & Co, handled the sale and comments, “The appetite for convenience stores remains strong, providing they are priced correctly. A high turnover store such as this attracts extra interest. As such, there were nine unsuccessful offers. We expect demand for convenience stores to remain unchanged throughout 2020 in a sector that continues to grow year-on-year.”