12/4/2020 | Retail Mortgages

Freehold of convenience store, in Andover, purchased by experienced retail professional

Commercial Finance broker, Christie Finance have obtained funding for the freehold of Sheepfayre Stores located in Andover, Hampshire which was purchased through our sister company Christie & Co.

Sheepfayre Stores is aptly located on a large housing estate on the South Eastern side of Andover. Standing as the only shop in the area and surrounded by a huge number of flats and houses, the store is not short of footfall and trade. This purchase also benefits from a two-bedroom flat located above the store which is currently being let out. The store has benefited from its organised and well-equipped shop floor, however, there is massive scope for improvement.

New owner, Mr Kulasingiam Harsan (Harsan) has a wealth of knowledge in the retail sector, having spent the last fifteen years in different stores alongside coming from a family of retailers, Harsan has been surrounded by the industry formalities from an early age. Recently, he has owned his own Londis store within a petrol filling, under leasehold. This business now sees a turnover in excess of £1.0m and Harsan is keen to develop his new purchase and see how he can improve the business. With this in mind, Harsan will be looking to rebrand his new store from Premier Store to Budgens, having already consistent sales and with the opportunity to close the store at 20:00 pm daily, there is huge potential for growth and further developments.

Chris Field, Director and Head of Corporate at Christie Finance comments, “It was a pleasure working with Harsan, an extremely organised and motivated individual. I have no doubt that his new venture will be a success as it’s a very unique business. His plans will only add to it and benefit the loyal local client base. I’m looking forward to helping him fund the next venture