A busy supermarket and post office in Coventry has been sold to new owners after strong interest from potential buyers.
Radford’s Select & Save store has been sold on a lease basis in a transaction brokered by specialist sales advisers Christie & Co.
The new owners of the Jubilee Crescent convenience store are a husband and wife team, Viraj and Vaishali Sheth. Financing for their purchase was provided by Christie & Co’s sister company, Christie Finance.
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The Radford Select & Save outlet is a large local double-fronted convenience store that enjoys a high footfall position in a busy parade in Radford.
The bustling store offers a wide range of convenience products and post offices which were added in 2013.
Mr and Mrs Sheth will take over the existing 25-year lease to operate the store, established by the previous owner in 2008.
Stephen Bell, Senior Sales Officer in Christie & Co’s retail team, who handled the sale, said: “Viraj and Vaishali have bought themselves a large store which has attracted many expressions of interest. .
“We held an open house-style viewing event because our marketing had generated many views and offers.”
A focal point for the community
Lawrence Roberts, Managing Partner at Christie Finance, who secured the financing for Mr. and Mrs. Sheth to acquire the new lease, added: “It was a pleasure to support Viraj and Vaishali in the lease purchase of the Select store. & Save.
“The store is a focal point for the community and it was obvious that Viraj and Vaishali would be a perfect fit for the business.
“I wish them all the best for the future and will stop by to say hello on my travels.”
Mr. and Mrs. Sheth said: “Lawrence and Stephen of the Christie Network were responsive, professional, knowledgeable and honest.
“We called on Lawrence at Christie & Co to help finance the purchase of our business and highly recommend him as he was a pleasure to deal with.
“He provided the right combination of knowledge, insight, reassuring calm and positivity as we navigated the various hurdles that are typical when buying a business.
“We have always been confident that things were progressing well, and I am happy to say that we have now successfully completed the sale.”
Stephen Bell of Christie & Co said interest in the business was so strong that they were actively seeking similar businesses in the Coventry and Warwickshire area to meet the needs of potential buyers.
He said: “Following the success of Viraj and Vaishali in their offering, we have a large number of other buyers who have missed out and are looking for similar rental opportunities.
“Buyer demand is at an all-time high, so now would be the perfect time for anyone planning to retire to list their store and take advantage of the buoyant market.”
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