A convenience store and post office in a North Yorkshire market town has been sold.

Specialist business property adviser, Christie & Co has completed on the sale of Costcutter Store & Post Office Helmsley with the help of sister company, specialist broker Christie Finance.

Costcutter Hemsley was sold off an asking price off £85,000 for the leasehold interest.

The new owner is Quentin Wilson, an experienced operator in the retail and hospitality sectors, who said he intended to continue supporting residents, as well as growing the business by extending opening hours and adding services and products from local suppliers, with the help of customer feedback.

A large focus will also be on employing local people.

The store, on the high street, was heavily relied upon by the Helmsley community during lockdown.

As well as the standard convenience store offering, it stocks quality local produce from farmers, such as soups and butchery products as well as fresh fruit and vegetables.

The previous owner made the decision to sell to focus on another store in his portfolio.

Quentin said: “We want to ensure this store remains at the heart of the community and I wish to thank the Christie & Co network, as their help is an essential step in making this a reality.”

The purchase of Costcutter Helmsley was supported by Christie Finance, with Matthew Gudgeon, finance consultant securing the funding for Mr Wilson to acquire the business.

Matthew said: “Raising finance in the retail sector can be challenging as lenders exercise caution towards a sector which is undergoing change. However, Christie & Co’s expertise and the strong relationships Christie Finance have with lenders allow us to successfully arrange finance with market leading terms for our clients. I wish Quentin and his family the very best of luck in the future.”

Andrew Birnie, director in Christie & Co’s Newcastle office, who handled the sale added: “The villages and small towns in North Yorkshire are popular with buyers seeking convenience stores of this kind, and despite the store rent being a little high, we received a number of interested parties before finding the perfect buyer due to Helmsley being such an ideal location.

"The post office is also inside the convenience store which adds to footfall and kept our client extra busy during lockdown. We wish both buyer and seller well in their futures.”