The clients, all very experienced publicans who had built their businesses up as leasehold premises could see the potential opportunities to take the pubs forward and make the businesses completely their own.
The four public houses involved in these two deals are great examples of businesses given new leases of life under ambitious owners. The Six Bells Pub in St Albans managed by Terry and Claire is a lovely example of a period pub and well established in the local area. The clients had owned the leasehold since 2014 and have built up trade and now plan to enhance the pub garden and kitchen to take the business forward.
Chris Field, Director at Christie Finance, an expert in sourcing the right freehold funding for public houses helped Mr & Mrs Oliver present their business in the right way and with his expertise our clients were able to secure finance equating to 100% of the purchase.
John & Alison’s deal was slightly less straightforward, with the clients looking to refinance The Five Bells Pub in Brabourne to facilitate the purchase of the freehold interests of The Globe and The Woolpack in Rye and Warehorne.
Both The Globe and The Woolpack had undergone significant refurbishment to create two character driven pubs that have been growing steadily in trade since reopening. Both John and Alison have worked in the pub trade for many years and John is a qualified architect and designer and these skills have allowed all three businesses to be configured to maximize potential.
Chris assisted by presenting all three pubs and their operating accounts to the appropriate specialist lending teams across the whole of the market, even though the Rogers’ were not convinced it would be possible to secure the two freeholds at this time. The right funding partner was identified to help Mr & Mrs Rodgers, on very attractive terms.
Chris commented on the two deals “Helping these great clients access the right funding to continue to take their businesses forward is what Christie Finance has been doing for over 35 years’ and I take great enjoyment in helping to secure these independent local pubs for their local owners.”
“In the last 12 -18 months we have seen a growing desire for pub leaseholders to purchase the freehold of their businesses, all across the UK.”