Specialist business property adviser, Christie & Co has sold the Junction Inn, a closed pub in Heckmondwike, West Yorkshire, to experienced retail operators who plan to convert the property into a convenience store, with funding secured through specialist commercial finance broker, Christie Finance.
The property, which sits in a residential area just off a main road through the town, had been on the market with the potential for redevelopment, having already been approved for planning permission to convert into apartments.
Previous owner, Lee Pattison decided to sell the freehold of the site in order to focus on growing his residential property portfolio.
New owners, Aman Barhgota and his father Joga Barhgota are experienced operators, already owning one convenience store, with plans to acquire more. They decided to purchase the site to convert into their second store, serving the Heckmondwike community and further afield.
Mr Barhgota said: “I am excited to have completed on this property in order to pursue my plans for another convenience store. Thank you to Sam Ashton at Christie & Co and I look forward to opening the store as soon as possible.”
Alena Jawadwalla, finance consultant at Christie Finance who assisted Mr Barghota with securing finance to purchase the site, said: “Aman is highly experienced in the retail sector and further to extensive research prior to purchase, his plan to convert this community hub into a convenience store is a great addition to his growing portfolio. I am confident this business will be a successful venture and wish him and his father all the best.”
As part of the overall funding package, Christie Finance also provided Mr Barghota with additional finance to refurbish the site in order to transform it into a convenience store, with the help of the dedicated CF Unsecured team.
Sam Ashton, business agent at Christie & Co who handled the sale, said: “Having gathered high interest locally during the marketing process, we found that the Junction Inn very much lent itself for alternative use. I wish the new owners all the best with this venture to convert the site into a business which will continue to serve the residents as a high quality convenience store.”
The freehold interest of the Junction Inn was sold off an asking price of £190,000.