A Gloucestershire hardware store has used funding from HSBC to acquire its premises outright. Hawkins of Thornbury has acquired a property that includes the DIY merchants, space for two offices and three units that are sub-let to other businesses.

The decision to buy the premises came after the building's freehold became available in late 2016.

Owner and manager Christine Stone fought off competition from developers who wanted to demolish the site to develop flats or offices and secured a six-figure commercial mortgage from HSBC to purchase the property.

Ms Stone is now is now hoping to carry out a major refurbishment project at the premises including upgrading the roof, general maintenance and renovating the empty units for other businesses to work from.

The independently-owned business has been serving Thornbury for over 100 years and the current shop was built in the 1950s.

"The business has been steadily growing over the past five years so it is a great relief to be able to build on this growth and continue in the same building my family has been operating from all these years, especially as the hardware shop has been a part of the local community for so long,” said Ms Stone

HSBC's area director for Bristol, Gloucestershire and Wiltshire, Sarah Lucas, added: "We have had a long standing relationship with Hawkins of Thornbury so are delighted to be able to support them in acquiring this property. Christine has expressed her desire to renovate and refurbish the property in the near future so we hope to be able support them in the next stage of the business's development."