Popular convenience store in Great Yarmouth acquired by new local owner

Located in the heart of a residential neighbourhood, and well-established in the local community, the store has been operated by owners Michelle and Peter for 24 years, who have decided to sell in order to focus on other business ventures.

The store has been sold to Mr Rameshkanna Paramchothy, an experienced local operator with a collection of established stores across the region. He plans to extend, re-fit, and redesign the store, modernising its offering and enhancing the experience for its loyal customer base.

Michelle and Peter said: “Thank you to Lewis and Christie & Co for assisting us with this sale. It was important to us that the sale was completed in a timely manner and I felt the communication between Lewis, our buyer, and solicitors was always very clear. We would like to take this opportunity to thank our loyal members of staff and customers, and wish them all the best under new management.”

Mr Paramchothy said: “I would not have been able to complete this purchase without Lewis and Christie & Co. Also, importantly, Tamara from Christie Finance did brilliant work to secure the loan in such a short period.”

The acquisition was successfully financed by Christie Finance. Tamara Ryan, Finance Consultant at Christie Finance, said: “I am delighted to have secured funding for Ramesh to help him grow and add to his existing portfolio. Ramesh’s experience and knowledge, along with our specialism in retail funding, meant there was a positive outcome for all, with a swift completion achieved. I have no doubt Ramesh will make a huge success of his new store, and it was a pleasure working with him.”

Lewis Last, Senior Business Agent at Christie & Co who managed the sale, commented: “I am so pleased to announce this sale. We had a very tight timescale which required all parties to collaborate in order to see the sale complete swiftly. I would like to wish Peter and Michelle all the best for the future as they now focus on other business ventures. I would also like to congratulate Ramesh. This is a fantastic acquisition for him and he has some very exciting plans, including extending and modernising the store. I look forward to catching up with Ramesh in the future.”

The store was sold at an undisclosed price.

For further information on this press release, contact:
Jasmine Davis, Corporate Communications Manager
P: 07561 115179
E: jasmine.davis@christie.com

Contact the agent:
Lewis Last, Senior Business Agent – Retail
P: +44 7526 175 851
E: lewis.last@christie.com

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