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29 May 2020 | Pub Mortgages

Traditional, rural pub in Devon purchased by first-time buyers with the support of Christie Finance

Specialist commercial finance broker, Christie Finance, supported new entrants to the market, Mark Pulman and Louise Smalley, in the purchase of Thelbridge Cross Inn, an authentic pub located in Crediton, Devon, that was brought to market by Christie & Co.



Thelbridge Cross Inn is a picturesque country inn located amongst the glorious rolling hills of Mid-Devon. A former coaching inn dating back to the 1700s, the building is made of stone and cob, with beamed ceilings and open log fires. Surrounded by wonderful countryside views, on a clear day, visitors can see the hills of Dartmoor to the South, and Exmoor to the North.

The pub itself has a bar area accommodating 20 covers, alongside a lounge, dining and breakfast areas and a function room which can seat up to 120 people. It also comprises eight en suite letting rooms available to the public.

The inn’s new owners both have a wealth of experience in the hospitality sector. Mark is a fully qualified and award-winning chef who has worked at all levels within the kitchen at several establishments. Louise’s career has entailed working in customer service and therefore she is ideally placed to manage front of house at Thelbridge Cross. Her current role sees her working on a large campsite, controlling stock, budgets, training and dealing with guests. Several of her previous roles have been in working in hotels, which again will benefit the couple when taking over the pub.

Louise and Mark intend on reinvigorating the traditional pub approach at Thelbridge Cross Inn, sourcing local produce and instilling local pub values. They plan to increase occupancy by advertising on Booking.com and capitalising on Louise’s hotel and guest management experience to improve the quality of service provided. The function room will also be utilised to accommodate parties and local events such as beer festivals.

Commenting on the purchase, Louise says, “We are delighted to take ownership of the Thelbridge Inn with great plans for the future. Jimmy’s help and support throughout the process was of real help in securing this purchase. His knowledge and confidence in getting the deal across the line was fantastic.”

Jimmy Johns, Finance Consultant at Christie Finance, comments, “It was great to work with Louise and Mark to secure their dream purchase. Supporting new entrants in buying a pub is always a challenge, but we demonstrated our ability to deliver the right funding for our clients. I wish them all the best in this new venture.”
 

Jimmy Johns 
E: jimmy.johns@christiefinance.com
T: 07711 767 593