Retailer avoids need to relocate with new facility
Hilton-Baird Financial Solutions has helped a Scottish retailer to secure a sale and leaseback facility and avoid the need to relocate their ideally situated store.
Having rented its retail shop for a number of years, news that the landlord wanted to sell came as a blow as the business didn’t have sufficient cash to put towards a deposit for a commercial mortgage.
Fearing that they would have to move, our team worked fast to introduce our client to a suitable sale and leaseback facility which has allowed them to continue trading from the same address.
Our client sells a wide range of consumer goods to the public from its town centre shop.
Trading for more than a decade, moving premises and the upheaval that brings would have been detrimental to the business. So, when they learned their landlord wanted to sell the store, they contacted our funding experts to discuss their options.
As with most businesses, available cash was fully utilised so raising money for a commercial mortgage – given the 30% deposit required – was unlikely.
However, by combining our understanding of their business and knowledge of the commercial finance market, we introduced two suitable sale and leaseback specialists that could purchase the property from the landlord and lease it back to our client, all within the timescales our client needed.
Not only has the facility they chose ensured they can stay in their existing store, in the location that works so well for them, but we also saved our client a lot of valuable time and money and enabled them to secure a long lease period, which is what they required.
To find out how we could add value to your funding search, our team of experts on 0800 9774833 or enquire about sale and leaseback here.