FT - Wessex Retail acquire Newton Services, Penzance, Cornwall 2020

Wessex Retail has recently completed the acquisition of Newtown Services near Penzance, Cornwall.

The site - which boasts glorious panoramic views over Praa Sands and Mount’s bay - had been operated as a petrol filling station and independent convenience store by the same owners since 2001, who are now taking retirement.

Following this acquisition of the business, Wessex Retail plans to renovate and rebrand the store to Spar, and to introduce a much broader range of products, promotions and a larger hot food offering.

Paul Heather, director at Charles Darrow, who acted on behalf of the owner, Mike Cullimore, commented: “As with all petrol filling station sales that we handle, they generate a great deal of competitive interest and Newtown Services was no exception with strong market interest from the outset.

“Being mainly convenience store operators, Wessex Retail were looking primarily at the potential of the store as opposed to fuel volumes. The store, which was independently branded and somewhat dated, still boasted a healthy turnover which Wessex can now confidently build upon. Demand remains strong for good sites throughout the south west and despite the Covid-19 pandemic, we expect this trend to continue with supply being restricted.”

Wessex Retail is operated by Appleby Westward, which is the Spar Retail Distribution Centre in the West Country. They have a long-established local distribution service currently meeting the needs of many great stores from Bournemouth, Southampton and Portsmouth in the East, Helston, Falmouth and Truro in the West and Bristol and Bath in the North. They have a strong service culture with strict 24-hour order lead times.