Wed, 11 Aug 2021 | COMMERCIAL PROPERTY
Bestway Retail has tasked Christie & Co with bringing 22 stores to market under the second phase of a plan to sell unwanted stores. The 22 stores are from a variety of brands including Bargain Booze, Select Convenience, Central Convenience and Wine Rack.
The stores were acquired in 2018 when Bestway Wholesale acquired the former assets of Bargain Booze Ltd from the administrators of Conviviality Group. The company created Bestway Retail at that time to manage the portfolio. The stores in the portfolio are available on a leasehold or freehold basis and the deadline for bids to be submitted to Christie & Co is August 25.
The tranche is the second phase in Bestway’s Project Endeavour, the first phase of which saw Christie & Co market 37 stores in August 2020.
Christie & Co Director of Retail Mark Kaluza commented: “We are delighted to continue assisting Bestway with the sale of some excellent off-licences and convenience stores.
“As this is now our second tranche of divestments, from our experience of running the first release, these stores will strongly appeal to existing retailers looking to take over management-run stores in their local area or new owners looking for their first purchase, having worked in the convenience retail sector for someone else.
“Bestway have been able to offer buyers franchise agreements to trade their Bargain Booze brand to support retailers whilst also being open to sell them free-of-tie to their trading names. There is certainly no better time to acquire a new retail business, when demand from communities is so high.”
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