Lee Scott returned to England with the ambition to own and operate his own guest house. He found the perfect property in Llandudno, close to the Great Orme Railway and town centre so he made an offer and it was accepted. The dream had begun to be a reality.
The business had been trading but, in the past year or so, the owners retired and ceased trading the concern. They did, however, leave the guest house in a state where it could be traded almost straight away with just a few immediate updates to be done which was a bonus for Lee as he could more or less move in and start trading.
Although there were some historic accounts for the business there were no recent figures. This meant that the application would be mainly premised on projections, which is always a more challenging position from which to apply for a hospitality loan. The fact the concern was in a popular holiday destination helped and with Stewart Hindley & Partners’ experience we were able to make a successful application on Lee’s behalf. We supported Lee with his bank meeting and commercial valuation arrangements and made sure he was kept up to date on progress throughout the purchase.
Lee has just taken possession of the Capri Guest House (May 2017) and is ready to welcome his guests. If you want a seaside holiday in North Wales then I am sure you will receive a warm and friendly welcome at the Capri. You can check out his rooms and rates at www.thecapriguesthouse.co.uk
“Stewart Hindley and Partners offered me a professional, helpful and reliable service, the service they offered was first class from start to finish. Stewart Hindley and Partners drew up a business plan and enabled me to secure a commercial mortgage for purchasing a Guesthouse and pursuing my goal in Llandudno North Wales. Further to the above I would highly recommend Stewart Hindley and Partners to any other small or large business wishing to obtain finances in said projects”
Lee Scott – Proprietor, The Capri Guesthouse