Six Wyevale Garden Centre sites in Kent are up for sale

by | Jun 7, 2018 | Business, Chains, News | 0 comments

Wyevale

All six Wyevale Garden Centre sites in Kent are up for sale with a price range of between ?200k to ?35 million.

The enormous garden centre operator has been put up for sale by owners private equity firm Terra Firma.

Property advisor Christie & Co has been appointed to look at different ways of selling the business – from a job lot sale to individual garden centres.

It is thought the garden centres, in Ramsgate, Tunbridge Wells, Hamstreet, Gillingham, Chatham and Paddock Wood, will attract a lot of interest.

Chris Day, global managing director at the group?s advisory business, Christie & Co commented: “The garden centre market is vibrant and on an upwards trajectory.

“The sale of Wyevale Garden Centres presents a unique opportunity for a wide range of buyers from financial institutions, existing garden centre operators, independent business people and entrepreneurs to buy well invested local garden centres within the price range of ?200k to ?35m.

A spokesman for Wyevale Garden Centres (WGC) said the business has enjoyed exceptionally strong sales in recent weeks, with a record breaking Mayday bank holiday weekend, the highest one-week? sales ever and May on track to be the most profitable month in the company?s history.

WGC is the UK?s biggest garden centre chain, with 145 garden centres across the UK, including 144 restaurants and caf?s and 700 concessions with 240 partners.

The spokesman said: “These have been significantly developed during Terra Firma?s ownership and have been key to driving footfall and de-seasonalising the business, making the centres attractive all year round destinations.”

How much will each of the Kent sites be?

The range of offers for the Kent stores could vary dramatically, according to Christie & Co.

  • Gillingham – ?200k for the leasehold
  • Paddock Wood – ?400,000 for the leasehold
  • Chartham – ?500,000 for the leasehold
  • Hamstreet – ?1 million for the freehold
  • Ramsgate – ?1.3 million for the leasehold
  • Tunbridge Wells – ?5 million for the freehold

Justin King, Vice-Chairman of Terra Firma and Chairman of WGC, said: ?The improvements made by the new leadership team at Wyevale Garden Centres supported by 6,000 dedicated colleagues, means that now is the right time to seek new, long term ownership for the business.?

Roger Mclaughlan, Chief Executive of WGC, said: ?Wyevale Garden Centres has transformed beyond recognition over the last few years, and our customers are responding really positively to all the improvements we?ve been making, with improved ranges, high stock availability and exceptional garden centre standards.

“Our improved business has engaged colleagues and put customers at the heart of what we do.

“Thanks to the hard work of all of our colleagues, we remain firmly on track to grow our sales and profits this year.?

source

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