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09 November 2020 | Retail Mortgages

Convenience store in Bingley, purchased by experienced retail professional, through Christie & Co, with support from Christie Finance

Commercial Finance broker, Christie Finance have obtained funding for the leasehold of Cottingley Village Store and Post Office located in Bingley, West Yorkshire which was brought to the market by sister company Christie & Co.

The Cottingley Store and Post Office is located in the heart of the retail parade in Cottingley village and has been an integral part of the community for over fifteen years. The shop boasts a spacious area with a variety of stock lines being sold, in addition to Lotto and PayPoint services and the Post Office counter which attracts a large footfall of customers.

The new store owner, Mr Thaveshwaran Vakeeshan, has worked his way through a number of positions in convenience stores, starting as a junior under the mentorship of his family members, transitioning to managerial positions thereafter. Since this, he has managed Post Offices and a high-turnover petrol filling station, so his experience is varied and his understanding of running a business is strong. In Mr Vakeeshan’s previous roles, he has managed to improve sales of his stores which he will seek to replicate in the running of the Cottingley Store and Post Office.

With the purchase of this store there is massive opportunity to improve the shop layout and branding, with Mr Vakeeshan intending to re-brand the store to Premier, which will allow for a new store design, layout and stock offering. He is very keen to introduce the sale of alcohol into the store alongside this re-brand, which will improve trade and sales. The new hands on approach that Mr Vakeeshan will take will allow for him to actively be a part of the store and will help with his plans to extend trading hours to 11pm Monday-Sunday.

Matt Gudgeon, Consultant at Christie Finance secured the deal