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30 July 2019 | Retail Mortgages

Spar convenience store in Powys town find new owner

Specialist commercial broker Christie Finance has secured funding on behalf of Mr Rajesh Karavadra and Mrs Puti Keshwala, in order to purchase a Spar branded convenience store located in Knighton, Powys, the sale of which was handled by agents, Christie & Co.

The Spar branded store offers a range of products, including chilled and frozen goods, household items, and fresh fruit and vegetables, along with a deli counter with food to go provision, an off license and National Lottery services.

The store is ideally situated in the heart of the small market town, near Offa's Dyke, a popular walking trail along the border of England and Wales, and The Spaceguard Centre, an internationally renowned observatory, benefitting from high levels of footfall throughout the year.

New owners, mother and son partnership Mrs Puti Keshwala and Mr Rajesh Karavadra, have a family history of owning and operating stores, despite Rajesh being a first-time buyer. Puti, however, will remain in her current role as a nurse for the NHS, and leave the operational side of the business to Rajesh and his wife.

Lawrence Roberts, Finance Consultant at Christie Finance secured funding for the purchase of the store. He comments, “It was great to work with Mr Karavadra and Mrs Keshwala, who having so much experience, will no doubt be excellent hands on owners. I’m very pleased we managed to secure such competitive terms for them and look forward to seeing them succeed in their new challenge.”