Strong demand for retail assets in Scotland, reports Christie & Co

Muirton Post Office, located in Perth, is an established local business with longstanding loyal trade. The business was sold following the previous owner’s retirement to Irfan Ashghar, a local convenience store and Post Office owner who was seeking a stand alone Post Office business to add to his portfolio.

The second property, J Dunbar & Son is a busy Premier branded convenience store located in the West Lothian town of Armadale. The business was placed on the market as a retirement sale following 60 years of ownership, and was sold to existing local operator, Abdul Manan, who has plans to refit the store.

Both sales were handled by Liam Bain, Retail Business Agent at Christie & Co. He comments, “J Dunbar & Son was a fantastically popular instruction, garnering 18 offers over a two-week period. After a closing date was set, we were able to secure a cash offer at 15% over asking price from a local shop owner. This proves the market for high turnover convenience stores in good locations is competitive, with buyers eager to go above asking price to secure the right business.

“Whilst Post Office businesses have received mixed press recently, they remain a solid investment which continue to attract buyers. The sale of Muirton Post Office was completed without going to market as we were able to use our extensive network and find a buyer close by, who was looking for this exact type of business. After several viewings and conversations, we were happy to move ahead with the purchase and accept an offer at asking price.”

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 agent:

Liam Bain, Business Agent- Retail
M: +44 7732 602 268 or E: liam.bain@christie.com

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