06 September 2017 | Retail Mortgages

Returning client helped with buying third Midlands service station

Christie Finance has helped a returning client with funding to acquire their latest Petrol Station located in Ravenshead, Nottinghamshire.

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Longdale Service Station is a long-established business with a loyal local customer base and was sold through specialist property advisor, Christie & Co.

The new owners, Mr & Mrs Navanathan, identified Longdale Service Station as a prime opportunity to add to their existing portfolio as they believed the site to be under-trading and providing scope to create additional value. The husband and wife team already own Carter Lane Service Station and Paddox Service Station and had instructed Stuart Pawelczyk at Christie Finance to arrange funding to purchase the Carter Lane site last year. Christie & Co also handled the sale of the Carter Lane site last year.

David Branch, Business Agent in Christie & Co's Nottingham Office, who brokered the sale comments, ‘’Knowing our client’s individual needs is very important to us. When Longdale Service Station came to market, I was confident that it would sell to a relatively local operator. With the help of Stuart Pawelczyk at Christie Finance the transaction happened very smoothly and working closely together with all parties we had a successful completion.’’

With Stuart’s previous knowledge of Mr & Mrs Navanathan, coupled with their strong sector experience, he was quickly able to assess the best options and secure the funding required for the purchase to complete.

Commenting on the deal, Stuart said, "I was delighted to help Mr & Mrs Navanathan again with funding to acquire their latest forecourt. It is always great to work with a returning client and to assist them with their next business step, on even more competitive funding terms than before!”

The forecourt sector continues to be buoyant with a large array of finance options available to support acquisition, refinance or refurbishment plans."