Market complex run by family for 53 years on sale for £5.4m

A thriving Worcestershire market and residential complex which has been owned by the same family for more than 50 years has gone on sale for £5.4m.

Pershore Retail Market has been run by the Mackaness family, based in Northamptonshire, since 1967 and the family’s success has seen the market enjoy near full occupancy throughout.

James Mackaness, who has always travelled to the market to see the traders every week for his full business life, said other family business interests and travelling distance to Pershore prompted the decision to sell.

The 74-year-old said: “It’s off on a limb, really, and needs someone to love and care for it. We are selling it as a whole and would love to see it carrying on as a working site.

“There are development opportunities on and adjoining the site and it could be split up as separate going concerns by whoever buys it. There is a garage next door and that and our site could really do with combining.

“We dropped on Pershore originally because we needed a depot as a lorry stop to comply with the law at that time. I then bought this site in 1967 when it was a wholesale market, developing it into a retail market and I have run it ever since.”

Mr Mackaness’ family are no strangers to business success and growth and reveals his method for success.

“As a family we have farmed and been merchants in the Nene Valley, Northamptonshire, for 700 years.

“My brothers and I have had a number of business interests around the country and I have been heavily involved in our garden centre, Pershore Market and our fairly large finance company.

“I have run the market all my life and travel up once a week to keep in touch with what’s going on. There are a cross section of facilities there, including shops, trader stalls, flats and offices. We have always enjoyed full or near full occupancy over the last 53 years and I think this is because we look after people in the right way.

“I have always believed in setting the standard of ‘would you let your mother use it?’ If it’s good enough for that then it must be good enough for someone else!

“We have no long leases, just exchange letters and the site has been a thriving, focal point of the town for many years. Traditional markets are on the up - they are enjoying an enormous revival in France and I believe Pershore town centre would drop dead if the market closed.

“We are seeing more empty shops in the High Street, not just in Pershore but all over and it’s important to keep it going. The people of Pershore view the market not as ‘our market’ but theirs. You can park there and people, particularly the older generation, love going along to talk to traders.”

James Evans, of Halls Commercial who are handling the sale, said: “This sale offers a unique opportunity with several options available. The current owners have built up an excellent reputation.

“It is well maintained and seen near full occupancy consistently with the benefits of offering the smaller accommodation within the Pershore Market on ‘easy in, easy out’ licences at competitive rental levels. The investment opportunity provides a balanced mix of income from commercial and residential uses and it’s worth noting that a significant number of tenants are long-standing occupiers.

“Pershore Retail Market itself is comprised of a recently refurbished building, fitted out with a series of permanent independent market stalls. Surrounding this building are a number of single-storey and two-storey buildings offering a range of storage, retail and residential units. The property also benefits from 104 customer car spaces.

“Fronting the High Street is a row of traditional retail units with predominantly self-contained residential accommodation above. There is also a car workshop and separate car wash bay. Income details from the various facilities are available on request.”

The total site is 2.33 acres in size, offers a net income of approximately £346,000 per year and has potential for further development, or a possible future hiving off of the various facilities. These include the market, flats and offices - forming the focal point of the town.

James Evans Commercial ManagerFor more information telephone James Evans on 07792 222028 or email This email address is being protected from spambots. You need JavaScript enabled to view it.
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