Convenience Store Purchase – Renting to Buying with Loans

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Home » Bridging Loans » Case Studies » Convenience Store Purchase


Our client was trading through a convenience store from a mixed-use retail property, and was living above with his wife and young child. As part of an agreement with the current owner, our client would purchase the property at a set time, at an agreed price.

To encourage the vendor to hold on to the property, an agreement was made to make set non-refundable ‘deposit’ payments for the property throughout the tenancy. This had added up to a significant sum by the time the clients approached us.

As the agreed time approached, the vendor became very difficult to deal with and started setting deadlines for completion and even increasing the agreed purchase price. This backed our client into a corner as he had failed to get the full details of their agreement fully documented.

As the deadline approached, it became clear that the client would be unable to secure a commercial mortgage in time. This was disastrous as, if the client failed to purchase the property, they would find themselves homeless and without income. In addition, the vendor made it clear that the non-refundable ‘deposit’ payments would not be returned, under any circumstances.


After picking up the application, we were able to secure a regulated bridging loan for the client, allowing them to complete their purchase and rid themselves of their nightmare landlord. This has secured the client’s future and allowed them to move forward with their business and their lives.


About The Author

This content was produced by our Commercial Lending Director, Gary Hemming. Gary has over 15 years’ experience in financial services and specialises in bridging loans, commercial mortgages, development finance and business loans. He is widely respected in his field and regularly provides expert commentary for specialist trade publications, specialist business press as well as local and national press.

Gary Hemming CeMAP CeFA CeRGI CSP  -  
Commercial Lending Director

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