Specialist property business adviser, Christie & Co has brokered the sale of Neyland Supermarket, a local, Premier branded retail store in Milford Haven, Pembrokeshire, to national retailer, McColls.
The business trades as a successful and established community store which is very popular with regular customers and transient passing trade. The availability of Neyland Supermarket represented an excellent opportunity to acquire a highly profitable business in the heart of a thriving local community.
Neyland Supermarket has been successfully run by previous owner, Tony Lipscombe for eight years and he decided to sell in order to pursue other interests, looking find a new ‘hands on’ owner that could run drive the business forward by offering deliveries to the community and introducing different offers in the store to increase footfall and turnover. Tony comments, “We have been operating the business for eight years and we are now looking forward to pursuing other interests. The business has gone from strength to strength and provided us with a fantastic income over the years. We wish McColls all the best with the store moving forward.”
Neyland Supermarket has been purchased by McColls, who plan on re-branding and restructuring the store in line with their nationwide business model. Steve Berry, Business Development Manager at McColls, comments, “We are excited to add Neyland Supermarket to our ever-growing national portfolio of stores. We have wanted to increase our presence in this part of Wales for a while and this represented an opportunity we could not miss.”
Jamie Williams, Business Agent at Christie & Co handled the sale and comments, “Neyland Supermarket is a fantastic store which has been well operated by Mr Lipscombe and the trading figures reflect that. The store generated a lot of interest and we received numerous offers before moving forward with McColls. There is still strong demand for stores such as Neyland Supermarket, and our strong relationship with both corporate and local buyers enables us to achieve best price for our clients often with multiple offers.”
Neyland Supermarket was sold off a freehold asking price of £560,000.