Wyevale Garden Centres announces the sale of two centres, Barnett Hill and Seven Hills.
Barnett Hill has been sold to Cherry Lane, the value garden centre group (part of QD Group) and will continue to be run as a garden centre by the new owners.
Colleagues at Barnett Hill will transfer to the new ownership.
Seven Hills has been sold to a property development and investment company. WGC will continue running Seven Hills under licence for up to six months during which time we will be looking to find alternative employment for all our colleagues.
The deals are expected to complete during March.
Anthony Jones, Chief Operating Officer of WGC, said: “We are pleased to have agreed the sale of two more garden centres, taking the total sold since the start of the process to 48.
“We would like to thank our great colleagues at these centres and wish them well for the future, whether under new ownership or within Wyevale Garden Centres.
“We continue to evaluate and discuss a wide range of competitive offers and look forward to further positive discussions with all potential buyers.
“Meanwhile, the Spring gardening season has well and truly started and we are focusing our efforts on trading our remaining portfolio during this important period in the year.”
Christie & Co, the specialist business property advisor managing the sale process on behalf of WGC, has achieved considerable interest from a wide variety of buyers. The opportunity to acquire garden centres has ignited significant interest within the sector and beyond, and as part of the process Christie & Co continue to liaise with bidders.