Press Releases
Well established and highly regarded store in a Suffolk village changes hands for the first time in 100 years
H.G. Crisp News & Stationers, located on the High Street in Saxmundham in Suffolk, has been sold after 100 years in the same family ownership to a first time buyer.
The funding for the purchase was arranged by Christie Finance and the sale was handled by leading retail agents, Christie + Co, via the Ipswich office.
The business occupies a centrally located position and consists of a three-storey building, with the shop floor covering two separate stories, measuring approximately 1,200 sq ft. The sales area is predominantly open plan, with specific areas fitted and equipped for the sale of newspapers, magazines, commercial and general stationary, a good range of games and toys, greetings cards, artist's materials, frames, as well as a well stocked books department.
Having been owned and operated by Mr Richard Wills-Crisp's family for many generations at this particular site, the shop has established a strong customer loyalty and the customer base in this specialist business has been retained and developed, which is reflected in its impressive weekly sales figures. The new owner is first time buyer, Gareth White, from White's of East Anglia Ltd.
Nicholas Baker, from the Ipswich Office of Christie Finance, commented; "Mr White has purchased not only a successful business, but one with a 100-year-old reputation. By guiding Mr White through the purchase process, he is sure to continue the success of the business and here's to the next 100 years!"
H.G. Crisp News & Stationers was sold for an undisclosed sum from an asking price of £375,000 for the freehold interest and the sale was handled by Melvyn Eke, Associate Director from the Retail Team of Christie + Co. He commented; "Richard is thrilled to begin his retirement having sold his family business to enthusiastic buyer, Gareth White."
For further information please contact Nicholas Baker at Christie Finance or Melvyn Eke at Christie + Co on 01473 256588.
Our Ref: CFips721
