Independent retailer acquires first c-store through Christie & Co

The former Co-op store (pictured) attracted good interest and multiple offers when it was put up for sale with Christie & Co’s retail team in 2023.

The buyer, Mahendira Palanisamy, an experienced retailer in commission operated petrol stations, was eager to acquire a freehold convenience store.

Following a brief closure, the store has reopened and Mahendira has wasted no time in getting stuck into the business.

He commented, “I wanted to re-open the store as soon as possible so that the regular customers and local community weren’t affected by the change of ownership.

“I am planning to refurbish the store and convert to Nisa who stock plenty of Co-op products and operate the store with the help of my family. This should help me take the business to the next level and better serve the local community.”

Dave Morris, regional director – retail at Christie & Co, who brokered the deal, said: “The store represented a good opportunity for an independent operator to acquire a busy convenience store that has served the local community well.

“Mahendira has big plans for the business and we wish him well as he transitions across to NISA and introduces new services that will benefit the community.”

Mahendira worked with Lawrence Roberts, regional director at Christie Finance, Christie & Co’s sister company, to secure the funds needed to complete the purchase.

Roberts said: “I am very pleased to have supported Mahendira on his first convenience store purchase by obtaining a competitive funding package for him.

“Mahendira now has the opportunity to put his stamp on the business and continue to serve the local and passing trade, which I know will be a success!”

“The convenience retail market has remained buoyant across the UK, despite the recent interest rate rises and cost of living crisis. There are plenty of buyers looking for opportunities, so we highly recommend getting in touch if you’re thinking about selling your retail business.”