Our clients had to create a simultaneous completion between selling their house and purchasing the pub, whilst our resilient broker experienced a short window to get the deal agreed. First-time buyers are finding it exceptionally difficult to obtain funding, and especially within the hospitality industry, however we believe there is an excellent opportunity for Nagaty Bingham Limited as they have devised excellent short-term and long-term plans for the pub.
The Old George Inn pub
, located 13 miles north of Doncaster in the affluent village of Sykehouse, boasts a range of unique facilities. The new occupants will gain access to an open sided barn along with a swimming pool and a substantial beer patio area. The pub is attached to a 50-space car park with extra capacity on unused grass to facilitate the business that Nagaty Bingham Limited is aiming to create.
Our clients Rosie and John, bring a wealth of experience in support of their upcoming venture. Rosie currently works as a business transformation project manager which she aims to utilise whilst working on The Old George Inn’s property development propositions. Amongst this, she has previous hospitality experience working on yachts and public houses. John currently works as an Assistant Sales Manager for DFS ensuring customer service levels are consistently high and holds the responsibility of developing the Sales team ensuring excellent service is delivered and maximising opportunities is achieved.
The duo has plans to improve the property with a light refurbishment, whilst also introducing new offerings to the pub’s menu. Rosie and John plan to offer improved product quality, including a range of local beers to further improve current trade. A plan to formalise the caravan trade represents another great opportunity for the pair with plenty of unused land to utilise.
Lawrence Roberts at Christie Finance
who impressively secured funding commented, “Securing funding for Rosie and John has been one of the most intriguing funding journeys I have personally undertaken. To enter a sector with such difficult barriers and unprecedented events takes a lot of confidence, and during the process, it has become more evident that to navigate through the lender market efficiently you need a great deal team and lender to support your client’s ambitions. I am so happy that I was able to support Rosie and John with the purchase of The Old George Inn and I am sure everyone involved has every confidence in their future success. Although it may be difficult to obtain funding in a difficult economic landscape, this further demonstrates our ability to use our network of lenders and experience to keep supporting our SME clients.”
Our client Rosie commented further of their satisfaction, “Christie finance was recommended when we started to speak to Christie & Co about The Old George Inn. Lawrence and I had an initial chat to discuss a potential purchase, he immediately put me at ease demonstrating he would take the lead on securing lending against the property/ business. Having no experience in this field Lawrence was a big benefit to me!
Lawrence, and his colleagues - not only supported in gaining lending on the property but also helped to keep the purchase moving, supporting the estate agents and various solicitors involved (this purchase was rather challenging, but not due to Christie finance). We successfully completed in December 2020 - in very unique times, I have no doubt that it would not have happened had we not engaged with Lawrence and his colleagues!’
For further information on this deal, please contact:
Charlie Kerrison Stock
Junior Marketing Executive – Christie Finance
T: +44 207 227 0790
M: +44 7791 979 480
Finance Consultant – Christie Finance
T: +44 (0) 121 452 3721
M: +44 (0) 7702 809 566