Well established retail owner refinances his freehold convenience store
Specialist broker, Christie Finance, has obtained funding for Raj Food & Wine a Premier Store, located in Leiston, Suffolk, to refinance and raise capital allowing the owner to purchase a buy-to-let property, to expand and venture into a new type of business.
Raj Food and Wine has operated in the Leiston area for the last five years and has become an integral part of the village life. With it being located along the main through road of the village, it has reaped the benefits of both passing and local trade. When the site was acquired in 2015 the new owner, Dilip Khunti, refitted the shop to become part of the Premier group. This allowed for a refurbishment of the store and has made it the bright and modern space to this day. Located above the shop is 4-bedroom accommodation where Mr Khunti and his family reside.
Dilip Khunti is highly experienced in the retail sector with over 16 years’ experience operating his own stores, starting in Essex where he operated his store for seven years, optimising and maximising sales and customer experience. Then moving to Maldon where he purchased the leasehold of a store which he operated for four years, before purchasing Raj Food & Wine, where he has managed to maximise sales. His work acumen throughout his career has allowed him to always provide excellent customer service, develop opportunities and achieve targets. With this he has an exciting outlook for Raj Food & Wine developments over the next few years.
Mr Khunti runs his store alongside his wife and if there is any need for extra staff, they have their family, who also own a retail store, nearby. This allows the shop to have a family-orientated and friendly atmosphere, which is beneficial as the store currently stays open until 10pm every day, making it the latest opening shop in the village. This gives Dilip a real edge over his competitors.
Emma Vanson, Finance Broker who orchestrated the deal comments, “It was a pleasure to help Dilip achieve a more competitive mortgage and release his buy-to-let property from a second charge. Mr Khunti now has the funds available to purchase another store or buy-to-let if desired! I wish him the best of luck with his store and new venture”.