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13 January 2017 | Pub Mortgages

Pub leaseholder now the freeholder thanks to Christie Finance

Christie Finance, the specialist commercial finance broker, has recently helped the leaseholder of the Baker Street Pub in Gloucester to acquire the specialist funding needed to purchase the freehold.

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The owner, Mr Ian Gare, had been the leaseholder for just over a year taking a struggling pub and developing it aesthetically and markedly increasing trade. The business is a traditional pub in the center of Gloucester and is one of two sites in Gloucester operated by Ian. Under his management, reputations have soared and both businesses have flourished.

To protect his investment in Baker Street, Ian was keen to purchase the freehold and approached Nicole Jones, Finance Consultant at Christie Finance, to source the funding needed to acquire the freehold interest. Nicole quickly evaluated the strengths of the business and was able to generate interest from several lenders to provide the financial backing required.

The deal did have its complications but Nicole was able to overcome these issues and obtain funding through a High Street lender supported by the Government backed Enterprise Finance Guarantee.

Commenting on the deal, Nicole said, “It’s been a great opportunity to meet Ian and help him find the right funding support for his continued ambitions for Baker Street. At Christie Finance, we have a very strong track record of supporting pub leaseholders to find the most competitive funding to make their business freeholds their own."