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09 March 2020 | Restaurant Mortgages

Existing coffee shop business owners purchase the freehold of nearby restaurant to expand their portfolio

Specialist commercial finance broker, Christie Finance, has helped secure funding for the freehold of Herbert’s, a restaurant in Beckenham, Bromley, which has been marketed by our sister company Christie & Co. The purchase has been made by established business owners Matt and Josie Dickens- owners of Third Wave Coffee Group Limited, to expand their current coffee shop enterprise in Beckenham.

Herbert’s is a well-presented detached restaurant which was operating successfully with high turnover until the owner made the decision to move back to Portugal. The opportunity for the Dickens’ to purchase the freehold of this property was extraordinary and well timed to align with their business vision.

The business duo hold the successful leasehold of Daisy Green, a coffee shop situated a short distance away from their recent purchase, which they acquired in 2017 under their company Third Wave Coffee Group Limited. It is an independent store, serving homemade breakfasts, lunches, pastries, milkshakes and cakes- which attract customers throughout the week and weekend. They also operate ‘pop-up’ experience evenings such as ‘Charcuterie’ and ‘Suburban Vegan Dining,’ which is marketed through their flourishing social media accounts. The businesses long term plan is to build a small group of trading coffee shops to benefit from economies of scale

New occupiers Matthew and Josie Dickens have been able to drive the success of their independent coffee shop through years of hospitality experience. Prior to the purchase of Daisy Green in 2017, Matthew gained twenty years’ experience in hospitality working at a premium leisure centre and events hire for weddings in the area and has been able to utilise the knowledge to streamline and gain profitability for his business. Josie, his wife, had a successful career with Credit Suisse and now looks after their triplets and the family home, allowing her to have a hands-on approach to the business, with the hopes of using it more for their new endeavour.

Mr Dickens comments, “Everything has completed excellent, thanks for brokering a good loan and supporting all the way through. I’ll be sure to be in touch when we next require finance!”

Brian Love, Finance Consultant of Christie Finance comments “It was a pleasure to work with Third Wave Coffee Group Limited, in securing the finance required to purchase the freehold of Herbert’s. The Dickens’ have the expertise and experience to see the business thrive and I wish them the best of luck with their new enterprise, and I can’t wait to continue to support them”.