Completed sale
Steven’s Retail & E-commerce Company Was Acquired by John Barton | Transaction Overview
Steven’s, a newsagent in Durham, has recently been sold to a private buyer by Knightsbridge for £105,000.
The business operates from a prominent, mid parade shopping location in Newton Aycliffe, with schools and residential estates bringing regular custom. The newsagent has also introduced off license sales to the store following the closure of an off license nearby. Since this introduction our client saw an immediate increase in turnover; up to £8,000 per week.
Incoming buyer, John Barton, is planning to work within the business full time, taking over the outgoing vendors role, who is looking for a career change after operating the newsagents for a decade.
Since coming to the market Knightsbridge arranged 14 viewings leading to a sale suiting both parties, particularly our vendor, who expressed his happiness for incoming buyer to take over the business.