Mon, 26 Sep 2022 | BUSINESS SALE
A £1 million-turnover garden centre in Derry has been put up for sale for the first time, with an asking price of £1.25 million. The Altnagelvin Garden Centre is one of the largest in Derry and has become well-known for its wide selection of high-quality plants, pet supplies, garden furniture and Christmas trees.
The garden centre is located on Irish Street and cover 1.25 acres. Due to its size and extensive offering, the business has built a strong customer base within Derry, as well as attracting repeat business from customers travelling from areas including Fermanagh and Omagh.
The business was founded in 1977 and has remained under the same family’s ownership ever since. In 1996, the garden centre was taken over by Pauline Peilow, the daughter of the founders, and her husband Ian, who are now selling the business in order to retire.
Pauline Peilow commented that Altnagelvin has seen considerable growth over recent years, with the pandemic having led to growing interest in gardening, a trend that she said seems to be continuing during 2022.
Since 2018, the business has seen its annual turnover increase by 40 per cent, from around £716,000 to approximately £1 million in its latest accounts.
The sale, which is being handled by commercial property estate agent Ernest Wilson, includes the shop, several greenhouses and a large car park. An on-site private bungalow, with four bedrooms, conservatory, office and private gardens, is also part of the sale.
Ernest Wilson Managing Director Paul Williamson said: “The chance to buy a local landmark business like this one, and in a market which is so buoyant, doesn’t come along very often. Altnagelvin Garden Centre is an incredibly successful business, with an unrivalled reputation that Pauline and her family have worked tirelessly over more than four decades to build.”
“The potential to develop the garden centre further as a business is enormous, and needless to say we have already had a great deal of interested from prospective buyers.”
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