Gellideg Post Office & Stores in Merthyr Tydfil has been sold via Christie & Co for the first time in 24 years, to first time buyers from London, with funding for the purchase secured through Christie Finance.
This unopposed freehold convenience store and post office, currently branded as Premier, is situated on the outskirts of Merthyr Tydfil and has been owned and operated by Mark Reynolds since 1997.
The business is well established and ideally located on a busy parade with a variety of residential buildings and other commercial businesses nearby that help to drive its steady year-round footfall.
The previous owner, Mark Reynolds, made the decision to bring the property to market to seek a well earned retirement.
Jamie Williams from Christie & Co said, “Despite being marketed on a highly confidential basis, Gellideg Post Office generated eight offers from six different parties. The property was sold for a figure above the asking price to a London buyer which demonstrates our national reach and continued demand for convenience stores in the region.”
The store has been purchased by Nitharshanan Jeyaratnam, a first time buyer from London, who has relocated to the area to operate the business, renting accommodation nearby.
Jeyaratnam commented, “We are very pleased with the purchase of this fantastic store. It is an amazing place for our future and we look forward to getting in there.”
Jimmy Johns at Christie Finance added, “It was a pleasure to work with Nitharshanan and his wife, Swarnapratha, to support them with their first acquisition in the convenience retail market.
'We saw interest from a number of parties to acquire Gellideg Post Office and we’re pleased to have helped Nitharshanan and Swarnapratha to secure the funding they required. I would like to wish them all the best with their new business venture.'
