Reward backs £900k petrol station revival in first deal with new broker

Photograph: (Left to Right) Anthony Cope, John Pulahi, Danny Ahmed, Carl Perry

Reward Funding has completed a £900k funding facility for Linthouse Service Station, supporting the acquisition and redevelopment of a currently non-trading petrol station in a challenging sector typically overlooked by high street lenders.

The facility was structured to enable Linthouse Service Station to purchase the dormant forecourt within a tight timeframe. It was introduced by Sterling Financial Planning, marking the first completed deal between Reward and the broker.

Despite the owner’s strong track record and sector experience, having successfully completed two other forecourts within 12 months, high street lenders backed away from the deal, largely due to its reliance on a projection led approach rather than historic financial figures. Reward backed the ambition others missed, seeing the site’s future trading potential as opposed to the dormant forecourt.

Alongside the purchase of the site, the funding will allow Linthouse Service Station to fully redevelop the site, including the installation of new fuel tanks, a new forecourt apron and canopy, alongside a forecourt retail shop that is now more than double the size it was previously.  

Danny Ahmed, Directorof Linthouse Service Station, said: “Reward backed our vision when others paused. They moved fast, asked smart questions and supported us based on what we’ve built and where we’re going. We’re excited to see where the future will take us.”

John Pulahi, Managing Director of Sterling Financial Planning, added: “This was a great first deal to secure with the Reward team. Their decisiveness, flexibility and understanding of ambition were second to none.”

“It marks the start of what I am confident will be a strong and productive relationship, made possible by Reward’s genuine appetite for lending and their pragmatic view of risk.”

Carl Perry, Business Development Director for Reward Funding, added: “Timing and trust were critical to this transaction, and it required a lender willing to look beyond rigid criteria and tick boxes. It also marks the first of what we expect to be many deals with Sterling Financial Planning, a partner that, like us, sees the opportunity beyond the obvious.”

“This is exactly the type of opportunity where our approach to lending can add real value for entrepreneurs wanting to grow their business.”