Bestway Retail to divest more stores as part of Project Endeavor

Business property adviser Christie & Co today said it has been instructed by Bestway Retail to sell a new selection of its stores across the UK, as part of the ongoing Project Endeavour.

The first phase of the project has seen Christie & Co bringing to market 37 stores in August last year. The latest tranche includes 22 company-owned Bargain Booze, Wine Rack, Select Convenience and Central Convenience stores “that no longer fit Bestway Retail’s future strategy”.

All of the stores were acquired from the administrators of Conviviality Group in 2018 when Bestway Wholesale created Bestway Retail Ltd to manage the assets of the former Bargain Booze Ltd.

Separately, Bestway today announced the launch of a new campaign to recruit more retailers to its symbol brands, which now include fascias of Costcutter Supermarkets Group, acquired by Bestway last year.

Christie & Co said the new properties are available for sale on a leasehold and freehold basis.

“We are delighted to continue assisting Bestway with the sale of some excellent off-licences and convenience stores,” Mark Kaluza, director of retail at Christie & Co, who is leading the project, commented.

“As this is now our second tranche of divestments, from our experience of running the first release, these stores will strongly appeal to existing retailers looking to take over management run stores in their local area or new owners looking for their first purchase, having worked in the convenience retail sector for someone else.

“Bestway have been able to offer buyers franchise agreements to trade their Bargain Booze brand to support retailers whilst also being open to sell them free-of-tie to their trading names. There is certainly no better time to acquire a new retail business, when demand from communities is so high.”

Offers are invited as soon as possible, with a final bid deadline on 25 August.