Spar branded store in Luton sold to experienced operators through Christie network
Specialist business property adviser, Christie & Co is pleased to announce the sale of Spar Ashcroft Road, in Luton, Bedfordshire. Funding for the purchaser was secured through Christie Finance.
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Nestled on the outskirts of Luton town, Spar Ashcroft Road is an unopposed convenience store which is relied upon by locals in the surrounding residential area. Having had a recent refurbishment, the store provides a wide range of convenience items from confectionary to frozen foods.
Spar Ashcroft Road has been owned and operated by experienced retailers, Danny and Zee, who decided to sell the business to focus on their other stores in the South-East.
They comment, “Thank you to Lewis and the team for managing the sale, from an organised open day to the final exchange of contracts. We would certainly recommend using Christie & Co for the sale of your business.”
The store has been purchased by a group of local directors who have varied experience in retail and other business sectors and have exciting new plans for the store. Mr Pinikankumar Patel comments on the sale, “I would like to say massive thank you to both Lewis and Neil on behalf of our team. Thank you very much for your prompt response on every step of the process - excellent services!”
Neil Collins, Senior Consultant at Christie Finance, comments, “Working with The Fortune Group was a broker’s dream. They stayed focused on what they wanted to achieve and understood that to complete within their desired timeframe they needed to work with me to provide the required information to the lender. I look forward to working with them on their next purchase.”
Lewis Last, Senior Business Agent at Christie & Co who handled the sale, adds, “I am very pleased for my sellers who are very experienced retailers. I look forward to working with them again in the future on acquisitions and disposals.
“Whilst the deal was not without its difficulties, it was great to work with very proactive sellers and purchasers whose interests were always aligned to see the deal through to its successful completion. I am excited to see the group implement their fresh ideas and grow this already established business.”
For further information on this press release, contact:
Bronte Hughes, Corporate Communications Manager
P: 020 7227 0794 or E: bronte.hughes@christie.com
Contact the agents:
Lewis Last, Senior Business Agent – Retail
P: +44 7526 175 851 or E: lewis.last@christie.com
Neil Collins, Senior Consultant– Christie Finance
P: +44 7548 705 370 or E: neil.collins@christiefinance.com
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