11/19/2020 | Pub Mortgages

Current landlady purchases the freehold of pub in Gloucestershire, despite uncertainty of COVID-19

Newly established company and first-time buyers, The Carpenters Arms Westrip Ltd, have recently purchased the freehold of, The Carpenters Arms, with secured funding through specialist commercial finance broker, Christie Finance.

Located in the village of Westrip, The Carpenters Arms is situated in the picturesque Gloucestershire countryside. The pub is known for its strong food offering, complementary to its wet trade which attracts numerous walking visitors and residents. The property itself is a detached two-storey, with a self-contained owner’s accommodation on the first floor.

Sam Mckie is the full-time pub landlady and alongside her partner, Gordon Mckie, they have established the business within the Carpenters Arms. The pub was dormant for serveal months before the Mckie’s took over, with the building destined to be converted into residential space by the developer owners.  With the uncertainty in the climate, particularly the hospitality industry, the couple were positive about the purchase of the pub and what can be achieved by having full ownership. The Mckie’s took over the business in December and have so far invested £20k in refurbishments. Sam has a wealth of experience in the sector having previously worked in a pub for over eleven years, alongside this she has a background in sales and marketing with her last role as Account Director at Celador Radio. Having this abundance of knowledge is paired with her husband Gordon’s support to the running of the pub, Gordon works full time as an insurance broker and offers advice on commercial decisions and business planning.

The duo are actively involved in the community and see The Carpenters Arms as part of their return to the residents. Having hosted many events such as karaoke, quiz nights and being the facility for the local sports teams to regularly utilise. The community atmosphere has helped keep their trade steady and prior to COVID-19 they were increasing this. With the measures that the Government have placed due to the pandemic, Sam has opened a small farm shop in one of the outbuildings of the pub, which she is looking to continue when the pub has re-opened. The couple use the upstairs of the property to reside in and this helps them to both be on hand with refurbishments and opening hours.

Sam comments, “We didn’t think funding was going to be possible, but Jimmy was confident he would be able to find the support we required. We now own our home and business and are so delighted.”
Jimmy Johns, consultant who brokered the deal comments, “Despite the challenging times and having to close for 3 months Sam and Gordon have established the business right in the heart of the community which kept the trade going. Which meant we were able to secure highly favourable terms to allow her to buy the pub.”