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Saturday, August 24, 2019

Nottingham business acquires McDonald’s building for £1.2million

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Nottingham-based Bassi Group has added a significant investment to its portfolio.

The property is McDonald’s Marus Bridge Retail Park, Worthington Way in Wigan.

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The property was purchased for £1.2million by the company representing a huge investment and part of ongoing expansion.

The site is fully owned by Bassi Group and has been let to McDonald’s for 22 years.

Avinash Bassi of Bassi Properties, part of Bassi Group (Nottingham) said: “We are excited to add McDonald’s to our ever-growing portfolio of tenants”

The day to day running of the group is now managed by the second generation of the family, Rohan Bassi & Rahul Bassi. They joined with the view of really pushing the business forward and eventually taking over from their fathers. Cousins Rohan & Rahul joined the Board of Directors in 2013 and 2017, respectively after graduating from university, and group turnover has increased by over 40% since.

Since 1985 the Bassi Family have been pioneers of the industry. From humble beginnings, Avinash, Nina, Subhash & Manju Bassi started from a single market stall in Nottingham selling women’s clothing, which then quickly grew into a chain of retail clothing stores across the midlands.

The family then took another turn which saw the business develop into wholesale clothing business, distributing famous brands such as Levis & Pepe Jeans. In 2001 the business further progressed with the family starting their own clothing brand DUKE, which also saw the rebranding into The Duke Clothing Co.

The final stage of progression has seen the company also becoming a supplier of own-label goods to the world’s largest Brands & Retailers. 2001 was also the year the family started to diversify into property, having acquired a large portfolio of residential properties along the years, Bassi Properties Ltd. Was born, and the family purchased their first commercial office block.

Since then they have invested in retail units such as fast food chains, banks, supermarkets & shops. Commercial units such as office blocks for blue-chip companies, warehouse spaces & car garages. And finally more residential units such as apartment blocks, and large scale housing developments.

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