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16 September 2016 | Retail Mortgages

Somerset filling station welcomes new owner

The new owner of St Audries Filling Station in West Quantoxhead, Taunton, Somerset was recently assisted with raising specialist funding to purchase the business.

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Gary Boyce, Associate Director at Christie Finance, who specialises in finding the right commercial funding for clients in the South West and Wales, was able to help Mr Briyatharsan find the most competitive finance package. The client, an experienced retailer who already owns two forecourts in Somerset and Cornwall and a convenience store, was looking to grow his portfolio further.

The filling station was sold by specialist business property adviser, Christie & Co. St Audries is a long-established forecourt business in the local area, operating on the busy A39 since 1962. The filling station site includes a retail convenience side of the business trading under a Costcutter banner.

Gary assisted Mr Briyatharsan through the whole financing process allowing our client to focus on his other three businesses.

Commenting on the deal, Gary said, “I am very pleased that I could help Mr Briyatharsan find the right funding facility with the right lender. The forecourt market remains buoyant with demand for new businesses extremely high and certainly outstripping demand. However, securing funding continues to have its challenges and that’s why it’s so important that you engage with a broker before you begin your search, so you have the confidence to know the lending appetite for such businesses, and to make your bid stand out from competitors.”