Press Releases
Christie Finance assists first time partnership secure public house funding
Christie Finance, the independent business mortgage brokerage, is delighted to announce its Newcastle office has assisted Christine and Janine Colvin in acquiring their first public house, The Earl Derby Inn, in the picturesque village of Stanley in Crook, County Durham.
The Earl Derby Inn is popular with local residents and tourists alike, especially in the summer months. The Colvins, who do not come from either a pub or restaurant background, intend to take full advantage of this rare opportunity to own such a quality establishment and believe there is a wealth of potential to improve the food offering at the business.
Located in a semi-rural area with superb views to the rear, the Earl Derby Inn is a two-storey detached property comprising a main bar with games area, 28-cover restaurant, three-bedroom owner’s accommodation, a catering kitchen and beer garden. The property was converted from a residential dwelling to a public house some years ago.
Janine and Christine Colvin have purchased the freehold interest
in the Earl Derby Inn from Michael Vasey, who had owned the
business for some three years. The sale was handled by
Newcastle’s leading business agents, Christie + Co, with
associate company Christie Finance providing the funding.
John Feechan, business mortgage broker of Christie Finance,
comments: “I was very happy to arrange funding for whom are
very keen and enthusiastic first time buyers. Despite being
newcomers to public house sector, the Colvins impressed the lenders
with their planned initiatives, business acumen and eagerness to
excel in this newly found venture. We managed to identify precisely
the needs of Christine and Janine and best place their application
in order to propel them to success! As a measure of the
Colvins’ confidence in the services they received, they also
opted to use Christie Insurance for both their life and buildings
and contents insurance.”
The Earl Derby Inn was sold for an undisclosed figure after offers in the region of £220,000 were sought for the freehold interest.
For more information please contact John Feechan,
Finance Consultant in the Newcastle office of Christie Finance on
Tel: 0191 222 1740.
Our Ref: CFNew648
