A petrol filling station and c-store business that has been owned by the same family for over 50 years has been sold to the Chelmsford Star Co-operative Society for just under £2m by property advisers Christie & Co.
Jones of Chelmsford, located in the Essex county town’s Baddow Road, was owned by brothers Chris and Peter Jones who were Nisa supplier board members. The business was handed down to them by their father who originally acquired it over half a century ago but the brothers wanted to retire.
The acquisition represents the Chelmsford Star Co-operative Society’s return to the petrol filling station arena, building on its two ‘Quadrant’ department stores in Chelmsford and Braintree, 36 convenience stores, off licence and ‘Star Saver’ discount store — all delivering an annual turnover approaching £80m.
Mark Page of Christie & Co’s East Anglia retail team said: “Chelmsford Star Co-operative has acquired an excellent family business and we were delighted to assist them and the Jones brothers during the transaction process.”
Christie director and head of retail Steve Rodell added: “A long-standing family business such as this needs to make important decisions about its future based on well founded professional advice. It is vital to seek such guidance from advisors experienced in the many options that are available especially when a high quality sought after concern such as this is involved.
“We used our local and national contacts to bring the Jones brothers together with Chelmsford Star Co-op and the deal is further evidence that convenience operators are keen to acquire forecourts where the site can accommodate core retail sales, even in towns where large supermarkets are present.
“Correct pricing was critical here and this led to competitive bidding. It was very satisfying to facilitate a very good natured and smooth process. We wish Chelmsford Star Co-op every success in its new venture and Chris and Peter Jones a deservedly long and happy retirement.”