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17 July 2019 | Retail Mortgages

South Wales petrol station sold to experienced local retail operator

Specialist commercial finance broker, Christie Finance has secured funding for experienced retail operator, Arumugam Satheesh, who has acquired Old Pump Filling Station in Saundersfoot, Pembrokeshire, the sale of which was managed by Christie & Co.

Located in the Welsh village of Pentlepoir on the busy A478 road, The Old Pump Filling Station benefits from extensive tourist and local traffic heading to and from Saundersfoot and Tenby, two of the most popular leisure destinations in Wales.

This was the first time The Old Pump Filling Station was brought to the market since 2000 and represented a great opportunity for a new entrant or existing operator to acquire an established forecourt, with limited competition in a very busy tourist area.

The Old Pump Filling Station has been purchased by Mr Arumugam Satheesh, a local experienced retail operator, and represents his first foray into petrol filling station ownership. He comments, “I am very pleased to have concluded this deal. The forecourt has been well run by Chris and Angela and its standing within the locality is testament to their hard work and that of a very talented team, whom I look forward to working with.”

Gary Boyce, Director at Christie Finance, worked with the purchaser to secure funding, and comments, “Mr Satheesh is a highly driven existing retailer with a number of businesses across South Wales. He is keen to broaden his business portfolio and has the required skill set and a clear vision for future expansion of The Old Pump Filling Station. The funding we secured provides him with a sound foundation and I can’t wait to see him succeed in the new business.”