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19 March 2020 | Retail Mortgages

Funding obtained for experienced commission operator to purchase their first service station

Specialist commercial finance broker, Christie Finance, has secured funding for an experienced commission operator, to help acquire the freehold of Shireland Service Station, Birmingham, marketed through our sister company Christie & Co.

Aptly located, Shireland Service Station sits four miles to the West of Birmingham city centre and sees a high level of traffic from the surrounding road network. Currently sitting under the Jet brand, there are four delivery pumps and a retail store.

Mr G. Nair has over 15 years’ experience in petrol filling stations, with the last seven years successfully running a large BP forecourt in the South East as a commission operator. Prior to this, Mr Nair managed the retail offering at various other forecourt sites in Essex. With a bachelor’s degree in Hotel Management and having completed a course in Commerce and Accountancy our client was well placed to take on Shireland Service Station and move the business forward. Post completion Mr Nair will refit the store with the support of one of the major convenience store brands and provide additional amenities such as a PayPoint, Lottery machine, jet wash and vacuum. This refurbishment will allow Mr Nair and his wife Mrs Subha G Nair to capitalise on the opportunity for this conveniently located petrol station.

Whilst the client has a wealth of experience they were still classified by banks as a first time buyer within the sector. With our support they were able to secure funding from a high street bank offering competitive terms.

Ed Brown, the Finance Consultant for the financing of this petrol station comments, “It has been extremely satisfying supporting Mr & Mrs Nair with the purchase of their first freehold PFS. Despite technically being first time buyers, they were hugely experienced forecourt operators, which has been reflected in the high street facility we have been able to secure for them. I have no doubt they will make a success of Shireland and we look forward to supporting them with their future growth plans.”