New path for Central Avenue Service Station in Nuneaton
Specialist business property adviser, Christie & Co has brokered the sale of Central Avenue Service Station in Nuneaton, Warwickshire with funding secured through specialist commercial finance broker, Christie Finance.
This six-pump forecourt with convenience store is well located in the centre of Nuneaton and only recently underwent a full refurbishment. The business was placed on the market with Christie & Co after the previous leaseholder decided to sell the business to focus on other business interests.
The new owner, Mrs Sunita Arabpour is a highly experienced forecourt operator that has owned and operated a number of petrol filling stations over the last 24 years. Sunita left the sector for a short while to focus on her other business, returning in 2016 by purchasing a forecourt in Stafford. Due to the success enjoyed at Stafford, Sunita decided she was ready to expand her portfolio again which has been achieved following the acquisition of Central Avenue Service Station.
Stephen Bell, Retail Business Agent from Christie & Co's Birmingham Office who brokered the sale comments, “This transaction shows just how demand remains strong across the forecourt sector for both freehold and leasehold sites. Within 48 hours of this site coming to the market, Sunita had her offer accepted.”
Commercial funding was required to assist with the purchase of the business as well as to cover the fuel and shop stock. Stuart Pawelczyk, Associate Director at Christie Finance secured loan facilities from a consortium of lenders to complete the transaction.
He said of the deal, "Central Avenue is a great opportunity for an experienced operator like Sunita. I am delighted that I secured her the funding she required to enable her to complete the deal and grow her portfolio. By using our specialist sector knowledge we have been able to access some beneficial funding rates and terms for forecourt and retail clients alike."