Specialist business property adviser, Christie & Co has announced the sale of the Spar shop in Kings Fee, Monmouth.

Earlier this month, the Beacon reported on the handover from Ramesh ‘Ron’ Samani to the new owners following his decision to retire from retail.

When Ron bought the premises, the previous openers had gone bankrupt and it had been Ron’s brother, who had the shop in Wyesham, who persuaded Ron to have a look and the dilapidated premises.

So in September 1987 he took the plunge and bought it and after a month of working on the inside, it was ready to open and soon became a Spar shop.

Now looking to retire, Ron oversaw the handover this month to the new owner, Mr Kethees Vythilingam, finance for the purchase was provided by Christie Finance.

Christies Finance described the property as: “Located just off the busy Wonastow Road in a built-up residential area within Kings Fee, the local convenience store has served the community for “a number of years, providing every day essentials and postal services”.

They confirmed that the business had been purchased by a private buyer, who intends to build on its current successes.

Ashley Clements, Senior Finance Consultant at Christie Finance, said, “It was a pleasure to work with our clients on the purchase of this store, especially with it being their first. Ensuring we achieved a competitive funding package was integral to enable this purchase which was achieved through a whole of market approach. I look forward to working with them on future purchases.”

Joe Brayne, Senior Business Agent at Christie & Co who handled the sale, comments, “We’re delighted to announce the successful sale of Spar Monmouth, which will enable the owner to retire. We received extremely high interest and multiple offers on the business before the sale was agreed over the asking price. We have no doubt the new owners will make a great success of the store and wish them all the best.”