Freehold pub, The First & Last, sold to first time investors with help from the Christie Network
Specialist commercial broker, Christie Finance, has recently secured funding for first time investors Mr & Mrs Maharjan, who have purchased the freehold of local favourite, The First & Last in Herne Bay, Kent in a sale handled by property advisors Christie & Co on behalf of Mentor Inns. Christie Insurance also provided life insurance protection for Dinesh.
Dinesh Maharjan is a chef by trade who has previously owned and run his own restaurant, providing a wealth of experience in the hospitality sector. However, having made the decision to take a step back from hands-on operation, he and his wife, Sabina, have decided to purchase their first freehold investment.
The First & Last is located in the village of Herne, just a short drive from the popular destination of Herne Bay. A two-storey detached property, the pub includes bars, restaurant, games room, trade garden and a large function room, enabling the business to profit from various income streams. Furthermore, the property also includes four-bedroom owners’ accommodation.
With a tenant currently in situ with just over 10 years remaining on the lease, and over 12 years’ experience in the industry running pubs and restaurants, The First & Last is the ideal investment opportunity for Mr & Mrs Maharjan. James Hughes, the Christie & Co agent who marketed the property comments “I am delighted to announce the sale of The First & Last on behalf of Mentor Inns. The individual investors were keen to take on such a project due to the good return that the investment yielded. We received plenty of interest but in the end the property sold to the highest bidder”.
Emma Vanson, Finance Consultant of Christie Finance who brokered the deal comments, “It was a pleasure to work with Dinesh and Sabina purchasing their first property investment opportunity. I wish them all the best with their new venture as landlords and hope to continue with assisting them with future investment purchases.”
Dinesh Maharjan comments, “I am very pleased with my purchase of The First & Last. There were many difficulties throughout but the agent, James, along with Emma from Christie Finance, continued to make things happen and push the purchase through for me. I am very happy with my new investment and could not have made it a reality without the help of the Christie network.”