Content supplied by Christie & Co:
Convenience stores have remained a constant essential service throughout the Covid-19 pandemic. In what has been an incredibly uncertain time, the convenience of visiting a local store is most comforting for many customers wanting to avoid long queues, which has resulted in a large rise in footfall for these businesses. Two in five Brits (41 per cent*) have reported that they are shopping at their local independent stores more regularly than they did before and, now more than ever, are recognising the potential of their local shop and also the price parity with supermarkets on many well-known brands.
In line with this, Christie & Co has witnessed an increase in new applicants seeking to purchase a retail store during lockdown, and as more of the country reopens.
Before the pandemic, far too often we spoke with sellers after the collapse of a poorly negotiated private deal, where the buyer’s offer contained unrealistic conditions or unfavourable terms, such as delayed payments. Once the seller spoke to one of our experienced negotiators, they were assured that we would run a professional process, secure the best possible price, and drive the deal to completion.
Convenience retail has become an incredibly attractive sector to invest in. The short-term spike in sales makes it difficult to predict the ‘new’ value of stores, but we can assure owners that they will get the best price through being exposed to the most active buyer pool. We are more often than not achieving the asking price (or more) for current stock despite these challenging times, due to an increase in demand for these types of businesses.
For further information, visit www.christie.com.
