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21 September 2020 | Pub Mortgages

Successful wine and cocktail bar in Somerset purchased by newly established father and son business

Specialist broker, Christie Finance, has obtained finance for newly formed T and J Enterprises LTD in connection with the purchase of a well-established cocktail bar located in Bridgewater, Somerset, following the previous owners’ retirement.

The popular wine and cocktail bar has been a prime establishment for many people in the Bridgewater and surrounding areas for many years. It has offered regular music that has solidified its great reputation in the area and has allowed the bar to flourish. In addition to the bar, attached to the property are five en-suite letting rooms which are self-contained with a separate entrance to the bar.

New owners, James and Anthony Stratford, are experienced business owners being director and shareholders of T and J Electrical Labour Services LTD and T and J Properties Limited. Although new to the hospitality industry, the duo have no intention to change the current trading offerings and will be utilising the current staff including the manager, who will be retained to maintain consistency. Under James’ ownership he will take charge of ensuring that the trading performance of the bar is maintained and will utilise the accommodation element for his own staff. However, there will be occasions when he will let the rooms out to the public or other contractors. To help fund their new venture, they have also invested into several properties and will be utilising the revenue made from this to help fund the bar. James and Tony are highly motivated individuals who have the drive to make a success of their investments.

Jimmy Johns, who handled the deal, comments, “It was great to work with the Stratford ‘s in supporting them in acquiring their new adventure for their new business. We were able to drive a highly competitive process, providing them with several different funding options to consider. I wish them all the best in the future”.