18 August 2017 | Retail Mortgages

Birmingham Premier Convenience Store has a new owner

A local convenience store situated in the Chelmsley Wood suburb of Birmingham has a new owner thanks to funding arranged through the specialist commercial finance broker, Christie Finance.

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Mr Sundeep Rai, an experienced operator who has an existing convenience store in Coventry, will be taking over the leasehold of the store after the previous owners decided to retire after 40 years ownership. The business was sold through the specialist property adviser, Christie & Co.

Premier Chelmsley Wood is located in a densely populated residential estate, with very little nearby competition and recently underwent an extensive refurbishment. A new lease was created for the business and Sundeep approached Christie Finance to help him secure the funding to complete the purchase.

Stuart Pawelczyk, Associate Director of Christie Finance, comments, "This Premier branded local convenience store is a great opportunity and I’m thrilled that I could help secure it for Sundeep. With his experience, I know he will grow this well-established business and take it on to the next level.

The lending environment for leasehold retail businesses is very competitive at the moment and can be a desirable option for both first time and experienced buyers."