8/19/2015 | Pub Mortgages

Christie Finance sources funding for aspiring London pub owner

Christie Finance, the specialist commercial finance broker, has recently helped a client to secure funding to acquire the leasehold interest of The Grove Pub.

The pub is well located near to Battersea Park and the new property developments currently underway at Battersea Power Station. Benefiting from a large bar area and garden, it is a prime opportunity for redevelopment and expansion of facilities.

The client, Jim Banks was looking to acquire a second London pub to repeat the success that he achieved with his first pub, the Lord Nelson in Southwark.

Introduced to Christie Finance by Christie + Co who handled the sale of the pub. Finance Consultant, Matthew Kavanagh assisted Jim to arrange the specialist funding for the leasehold plus additional finance to refurbish the property. Using Matthew’s sector expertise, Jim was presented with a competitive solution from a business lending team at a High Street Bank, which delivered funding for 150% of the purchase price.

Matthew, commented; “I am delighted that we were able to secure the funding to help purchase The Grove Pub plus the supplementary funding to support his plans for the business. The pub is in a prime location and with Jim’s expertise I’m sure the business will flourish under our clients’ management.”