Martin McColl’s has announced that it has acquired the Londis Convenience Store and Post Office in Cadzow Street,Hamilton. The store was acquired from the Aggarwal family an asking price of £385,000 plus stock at valuation for the freehold going concern with the deal orchestrated by Christie + Co.
Daniel Arrandale, Associate Director of Christie + Co in Edinburgh, said: “The business had been developed by our clients over the last six years at considerable expense, with the view to developing a strong retail store by utilising the high level of footfall from the £100,000 per annum Post Office remuneration. The business generated significant interest within a few weeks of coming to the market, although for unforeseen reasons the retail side of the business was forced to close. Martin McColl’s was one of several parties to intimate an interest, and they soon agreed terms and a deal was completed within six weeks. The turnaround is an example of how quickly multiple operators can complete transactions in such circumstances.
“The appetite displayed for this trading asset was considerable and we are finding that interest generally in businesses across Central Scotland is increasing. While the market is not on a fast track to recovery, buyers are quick to identify good opportunities that offer potential at realistic prices.”
