Christie Finance, the specialist commercial finance broker, has sourced funding for the purchase of the Red Lion in Needham, Norfolk. The new owner, Michael Massey, had previously been running the pub with his family under a lease agreement with a corporate pub operator.
The Red Lion is situated in the village of Needham, just south of the A143 (which links Diss to Bungay) and two miles southeast of the market town of Harleston. The Grade II Listed property includes a main bar and restaurant (seating approximately 40 customers), a pool room, five-bedroom private accommodation on the first and second floors, large beer garden, car park and grounds extending to approximately 1.2 acres.
Nicholas Baker, Director at Christie Finance, said: "We were delighted to assist Michael to acquire the freehold of the Red Lion. The deal itself demonstrates our understanding and in-depth knowledge of the specialist sectors in which we operate. By assisting our client throughout the process, and working closely with our colleagues at Christie + Co, we ensured that the deal was a success and our clients are now concentrating on improving an already successful business."
The Red Lion was sold for an undisclosed sum by Christie Finance's sister company, national business agents Christie + Co, whose Ipswich Office has an impressive history with the Red Lion; the company sold the pub in October 2005, August 2007, December 2007 (leasehold) and now in January 2012.
Bill Colquhoun, Director at Christie + Co and who handled the sale, comments: "We are delighted to have sold The Red Lion to Mr Massey and to have been involved in a fourth sale relating to the Red Lion over a six year period."
For further information on this press release please contact Nicholas Baker – 01473 234905 nicholas.baker@christiefinance.com