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04 January 2017 | Retail Mortgages

Experienced retailer secures funding to buy his second store

Christie Finance, the specialist commercial mortgage broker, has recently assisted Mr Sarup Chand with raising finance to purchase his second convenience store, Sam's Supermarket in Birmingham.

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Located on a busy commuter route into Birmingham City Centre, the stores previous owner had managed the business for over 30 years before deciding to sell through Christie & Co.

Stuart Pawelczyk, Associate Director at Christie Finance, supported Mr Chand with finding the right funding to facilitate the purchase including additional funds to refurbish the business premises as well as cover the necessary stock purchases.

In addition to the trading convenience store, the business also has two privately let flats above and these will be refurbished along with the shop to improve profitability from the site.

Stuart received offers from multiple lenders to support the purchase and after providing specialist advice, was able to secure a very competitive facility from a High Street Bank.

He commented on the deal: “We are delighted to support Mr Chand to find the funding to purchase his second store and wish him every success with his new venture."