A well established Winchester newsagents has been taken over by a new entrant to the sector.

Hyde Newsagency in Hyde Street was put up for sale earlier this year and has been purchased by new owner Sascha Sethupathy, who plans to keep it as a newsagents.

Sascha, who is a first time buyer with experience running retail stores within his father's business, said: "I am delighted to have purchased Hyde News and look forward to settling into the stunning city of Winchester with my family.

"We plan to build upon the business Diane and Norman have built up over the many years they have run the store, whilst looking for new products and lines that we can introduce to offer to the local community. "We would also like to thank Tom for his guidance and assistance in the purchase."

The leasehold interest of Hyde Newsagency was sold off an asking price of £59,000.

It was previously owned by Diane Duckett and Norman Roberts, who ran the business for almost two decades.

Diane said: "After many years at the helm, we look forward to our retirement.

"We would like to thank the local community for their support over the years and would like to wish the new owners the very best of luck in their new venture."

The deal was formed through estate and letting agents Christie and Co.

Tom Glanvill, senior retail agent at Christie and Co’s Winchester office, handled the sale and said:“I popped in to speak with the owners as this business had been on the market for some time.

"We agreed a fresh marketing strategy and were able to focus the details on the high level of profit, as well as the exceptionally low rent for central Winchester. After a brief period of marketing, we arranged many viewings and had considerable interest.

"Ultimately, we have agreed the sale to an experienced operator who I am sure will bring fresh enthusiasm as well as a range of new products, making this a must visit store for the local community.

"Long live the diverse range of small newsagents and convenience stores across the country that offer real customer service and a break from the monotony of the mini supermarket.”