Featured, Mortgage Guide
Client details: The clients were experienced in the hospitality sector and had been operating the gastro pub as tenants. They were given the exciting opportunity to purchase the freehold to the building by the landlord and had ambitious plans for the property, including using it as a stunning wedding venue.
Property details: The property was an impressive detached two-storey Grade 2 listed building, on the banks of the Kennet and Avon canal, with a large open plan bar and restaurant and perfect for their future plans. A dream property!
Reason for finance: Commercial finance was required to complete the purchase so that the clients could build on the current trading period at the pub and put those wedding venue plans into action.
Challenges faced: Whilst experienced, the tenants had only been in place for a short period of time and therefore three years of trading history was not available. The property itself was also a grade 2 listed building, as well as in an area noted for risk of flooding due to it’s proximity to a canal.
Solution: Thankfully, they had Coreco Commercial on the case. Working closely with the lender, Allica Bank, providing accounts and management accounts to the point of application, we were able to show a stable trading history to support the borrowing required.
We’d like to express special thanks to Angela Flanagan at Merali Beedle (client’s solicitor), who was instrumental in ensuring the purchase was completed.
We know that all our clients are unique, and therefore the finance you require needs a different approach. We pride ourselves on providing a client focussed journey built around your needs and goals.
Our team always expresses their professionalism through their authenticity, high level of work ethic, and can-do attitude. We always find the best way for our clients to succeed.
Our progressive and forward-thinking outlook allows us to guarantee an exceptional level of innovative advice and service, ensuring an effortless, client-centric journey in the ever-changing financial world.
Fill out the details below to start a conversation with one of the team.