Oxford garden centre business bought by Newcore Capital Management
A garden centre and shopping business in Oxford has been snapped up by an independent real estate investment management firm in a deal believed to be worth more than ?10m.
Yarnton Nurseries consists of 12 acres of garden centre, retail and open storage space to the north of Yarnton, bounded by housing and open countryside. Retailers include Edinburgh Woollen Pill, Peacocks and The Works.
The site also includes a 150-cover restaurant.
Yarnton Nurseries has been purchased by Newcore Capital Management, which was introduced to the business by property consultancy Harris Lamb and Malcolm Scott Consultants.
Chris Primett of Malcolm Scott said: “As a complete entity, Yarnton Nurseries Garden & Shopping Village occupies 12 acres and is in the upper turnover quartile of garden centre retailing, thanks to well-established concession income.
“The garden centre itself boasts a turnover of more than ?4m while the full site generates turnover of around ?15m.”
Neil Harris of Harris Lamb added: “We have worked closely with Bob Marley, who has run the business for the past decade, and introduced him to Newcore, with whom we have a long-established relationship.
“Newcore recognised the success of Yarnton and acknowledged its excellent investment potential. Newcore has also instructed Harris Lamb?s management team to oversee the day-to-day management of the business, continuing to work closely with Bob, who will remain in place during the transition.”