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25 November 2019 | Retail Mortgages

Established proprietor obtains funding to refinance one of his family-run petrol stations

Specialist commercial finance broker, Christie Finance has secured funding for experienced retail operator, Mr Kathirgamanathan, to help refinance Orpington Pond Petrol Station in Orpington, Bromley.

Orpington Pond Petrol Station is a well-established business, sitting along one of the main roads in Orpington. The station operates on a 24-hour basis, currently under the supplier Texaco and allows for substantial traffic and footfall, making it a prominent asset to the area.

Mr Kathirgamanathan obtained the freehold for this petrol station in the 1990’s and has recently refurbished the forecourt, by installing new petrol pumps and a new floor to help re-fresh the exterior. At the same time, Mr Kathirgamanathan had also changed the shop supplier to Londis in hopes of revitalising the shop floor and to entice new and existing customers.  

Alongside this business, Mr Kathirgamanathan has the leasehold of a second petrol station and has made a thriving family business from both ventures. Having been in the petrol retail industry for over 35 years, he has worked his way up from till attendant, to area manager and then went on to manage several Texaco sites as a Commission Operator. The experience Mr Kathirgamanathan gained allowed him to excel in his ventures, and whilst maintaining and developing his businesses, he has also undertaken two Buy-To-Let properties, in which he has high hopes of expanding in the near future. Mr Kathirgamanathan‘s entrepreneurialism highlights his determination to grow his portfolio and business and we hope to see him utilise the Christie Network in the future.  

Rebecca Ashworth, the Finance Consultant for the refinancing of this petrol station comments, “It was great to work with Mr Kathirgamanthan to support him in refinancing his existing business and a further release of cash to assist with his other businesses. With his previous retail experience and knowledge, we were able to drive a highly competitive process, providing him with several different funding options to consider. I wish him all the best in the future”.