Posted 11 July, 2019 at 16:55
Old Pump Filling Station in Saundersfoot, Dyfed has been sold through specialist business property adviser, Christie & Co, to experienced retail operator, Arumugam Satheesh, with funding secured through specialist commercial finance broker, Christie Finance.
Located in the Welsh village of Pentlepoir on the busy A478 road from Cardigan to Tenby, The Old Pump Filling Station benefits from extensive tourist 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 previous owners, Chris and Angela Wood, had run the petrol station for over 19 years and decided to sell the business as they were looking to retire and emigrate. They comment, “We asked Jamie Williams at Christie & Co to run an open process to find a buyer for the forecourt and we are really pleased with the outcome. We have owned and operated the business for over 19 years, and we are now looking forward to retiring with a view to emigrate in the next few years.”
The Old Pump Filling Station has been purchased by Arumugam Satheesh, a local experienced retail operator, and represents his first foray into petrol filling stations. 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 Mr Satheesh 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.”
Jamie Williams, Business Agent at Christie & Co handled the sale and comments, “The forecourt presented a great opportunity for a buyer as it is in a good location and well regarded locally. It has been a pleasure to work with Chris and Angela who have been passionate fuel retailers for over 17 years and we wish them all the best with their retirement. The site is a good fit for Satheesh and I am confident he will continue to run the business successfully.”