Category Archives: Case Studies

The Coach at Edenfield

The Coach @ Edenfield – Great Gastro Pub

Our client wanted a quick purchase when he found the Coach at Edenfield and decided using an experienced hospitality broker was the way to get the best rates and the required amount of funding.

Dan was an experienced Bar/Manager who had a wealth of diverse bar trade experience.  It was his dream to own his own destination venue pub.  He found the property he wanted but needed to move fast.  We worked with Dan to provide a loan proposal which met the lenders criteria and showed his experience, the potential of the business and plans for the future.

The process was helped by the fact that Dan provided all the information we required promptly, in usable formats and was available to meet with the lender at short notice.  The whole process took 6 weeks from start to finish which is an exceptionally quick time and included having to get the valuation report carried out and produced.

Located on the outskirts of Ramsbottom, in the village of Edenfield, The Coach is the perfect place in which to socialise and relax with friends and family. A warm,  comfortable and welcoming pub with a menu that mixes up the traditional and the slightly more progressive with dishes of real ambition – served by a young and attentive team. Why not book a table and see for yourself.

https://thecoachatedenfield.com/

What Dan says about Stewart Hindley & Partners..

I was recommended Stewart Hindley as I was told that they specialise in obtaining debt for the hospitality sector. Upon speaking to Chris for the first time I was told that they would do everything they could to obtain the loan to value ratio that I requested. It took no time at all for a suitable creditor to be found and, with an incredible short time-frame to work with, Chris was able to get everything across the line in time for me to start trading by Christmas 2018.

I can’t recommend their team highly enough!

Afon View Guest House

Betws-y-Coed in North Wales – It took a while but they got there!

It was 2016 when Gidon and Izabela first contacted us to discuss bed and breakfast finance. They had attended a bed and breakfast course run by Karen Thorne at Hopton House in Shropshire and had decided to buy a bed and breakfast in the Shropshire area.  Unfortunately it took a while for them to sell their property and the original concern they were interested in was snapped up by another buyer.

Eventually they found a buyer and started looking again in earnest, however, this time they focused on the Lake District and North Wales (both excellent and beautiful locations!).  After a few disappointing starts they settled on Afon View in Betws-y-Coed, North Wales and their dream really started to materialise.  They completed their purchase and moved into Afon View in December 2018!

Afon View has 7 lovely letting rooms and guests are sure of a warm welcome from Gidon and Izabela.

Afon View is located in a village that attracts outdoor enthusiasts from around the world and is one of the main places to stay in Snowdonia.  Whether you are a walker, climber, kayaker, cyclist  or angler there are loads of places to visit and things to do in the area.

https://www.afon-view.co.uk/

Rockvale

North Devon Bed and Breakfast

Vanessa & Phillip Moyle had previously let out just one room of their house in Salcombe in South Devon and after some time decided that they wanted to use their love of meeting people and their hospitality skills to develop a business in the popular North Devon coastal village of Lynton.

They spent some time looking for the right property and eventually settled on a 4* guest house, Rockvale House.  Rockvale House had been owned for a number of years by the same people and was traded very much to suit their personal requirements.  This presented a great opportunity for Vanessa & Phillip to purchase a well-established 8 bedroomed Guest House located in the heart of Lynton and within the Exmoor National Park with great views.

As the concern had been traded for just 6 months of the year and often closed during peak times the accounts did not reflect the true potential of the business which can make it a challenge to fund from a lenders point of view.  As we, Stewart Hindley & Partners, are specialists in hospitality finance we were able to present a solid case to the lender with achievable goals and projections showing that debt service could be met.

Vanessa and Phillip completed on their purchase in December 2018 and are now looking forward to operating the business on a year round basis and sharing the beauty of North Devon and Exmoor with their guests and, of course, meeting lots of new and interesting people along the way!

If you are looking for a warm welcome, comfortable stay and panoramic views  why not choose Rockvale House on your next visit to the area!

https://rockvalelynton.com/

What Vanessa & Phillip say about Stewart Hindley & Partners….

From the first moment we contacted Stewart Hindley & Partners and spoke to Carol and then Mike Cox they could not have been more helpful, they were straight on the case working at such a speed it was brilliant.  Mike took away so much pressure and stress normally associated with a purchase like this, he spoke to us in such an open and honest way it was really refreshing.  His professionalism was superb and we are very grateful to him.  We know Carol did so much behind the scenes too.  We have no hesitation in recommending Mike Cox at Stewart Hindley & Partners 100 per cent. 

Thank you

Ness and Phil, Rockvale House

 

Harrys B&B

Cambridge Bed & Breakfast (formerly Harry’s B&B)

Selma & Anel Begic started talking with us in April 2018 when they were looking for a suitable bed and breakfast to purchase.  They eventually found one in June and instructed us to work with them to purchase the concern in July.

The bed and breakfast was well established and had been operated by the same owner for a number of years.  It was ready for some refurbishment which meant that Selma and Anel had the perfect opportunity to purchase a popular B&B in a prime location and which had room for improvement and business development.

The whole process proceeded reasonably smoothly with us supporting and guiding Selma and Anel through all the different stages and they completed their purchase in October 2018.  They have renamed Harry’s B&B and it is now called Cambridge Bed and Breakfast.

The location of the Bed and Breakfast is ideal for visitors to the Cambridge Business Park, most of the colleges of Cambridge University and is just 5 mins away from the river Cam and Jesus Green park, through which you can take a scenic walk to the beautiful town centre.  So, wherever you want to visit in Cambridge it is an ideal place to stay in.

What Selma & Anel say about Stewart Hindley & Partners….

I would absolutely recommend Stewart Hindley’s expertise in commercial mortgages. 

Mike Cox was excellent in keeping the process rolling and being professional even in difficult times. The rates offered saved me money in the long run, exactly what we needed with a new business. 

Mikes help with the business plan and the banking interview process was invaluable. 

Thank you for all the help and support! 

Bridge House

Boscastle B&B with Tea Rooms

Louise and Richard contacted us originally in August 2017 as they were looking to purchase a holiday lodge site.  Unfortunately this purchase didn’t progress but after much searching they found Bridge House in Boscastle, Cornwall.

Bridge House is a substantial stone property with popular tea rooms and guest accommodation.  Louise & Richard fell in love with it and decided this was the property for them so it was full steam ahead.

Stewart Hindley & Partners submitted a comprehensive loan proposal outlining Louise & Richards plans for the business going forward and including all historical and projected finance information.

After a successful bank meeting the loan was offered subject to valuation.  Valuers were appointed by the bank and valuation was undertaken and the report duly received.  Thankfully the valuation was positive and the purchase was completed after all the legal work was undertaken.

Louise & Richard moved into the property in July 2018 so had to hit the ground running over the busy Summer period.  If you need accommodation or something to eat in Boscastle you know where to get a warm welcome and a cup of tea!

http://www.bridgehouse-boscastle.co.uk/

St Ives Dunoon

St Ives Hotel Dunoon – 1 year on

Katia and Jonathan Smith decided they wanted to run a bed and breakfast in Scotland and after researching the areas and looking at what was available they decided to purchase the St Ives Hotel in the coastal town of Dunoon.

The hotel was in a good location being close to the sea and town facilities and had been run by the owners for 33 years.  The owners decided it was time to retire which provided Katia and Jonathan a great opportunity to purchase a going concern with plenty of potential in increase the trade.

Both Katia and Kevin worked in professional roles in London and had excellent transferable skills so although they had never run a bed and breakfast before they had great interpersonal  skills and Katia had a good level of online marketing experience which was  shown in by her work with MumsNet.

We worked closely with Katia to progress the purchase and  we are pleased to say that they began trading in August 2017 since which time they have upgraded the rooms and have achieved excellent Trip Advisor reviews including a Certificate of Excellence for 2017!  A great achievement in their first year of trading.  It is definitely the place to stay if you are in Dunoon!

Visit St Ives website  https://www.stives-hotel.co.uk/

Bunker

Bunkhouse in Portland

Sally Robinson and her partner Tony had worked in the hospitality trade in a variety of ski/holiday resorts and wanted to use their experience to run their own business.  They came across a niche business in Portland in Dorset which was a bunk house catering for divers who regularly visit the area and decided that this was the business they wanted.

Bunkhouse accommodation may be basic but it is a very affordable option for those looking for a comfortable but cheap place to stay.  A warm, friendly welcome after a hard day diving, climbing, sailing or walking is just what is needed when you want to relax and recover from an active day out.

The property had been run successfully by the current owner to suit her lifestyle and was not being marketed to its full potential as there was a very limited website and no social media presence.  As with many bed and breakfast businesses the trade was limited but the good news was this provided Sally and Tony with a great opportunity to buy a trading business which had the capacity to increase turnover.

The purchase did present a few challenges but by working with us at Stewart Hindley & Partners these were overcome although it did take some time!  Stewart Hindley & Partners presented trade projections which were seen as being achievable and representative of the industry.

Our unique knowledge of the hospitality trade means we are able to provide lenders with deals which are not only projection led but are realistic to the trade.  Our track record with the lenders means they can trust the information we provide them.

Sally and Tony will be widening their market from just the diving community to include climbers, walkers, sailing enthusiasts and basically anyone who wants comfortable budget accommodation.

https://www.thebunkerportland.com/

Arden House

Arden House – Kingussie Scotland

It had been a long held dream of Janet & Graham to run their own bed and breakfast.  In preparation and to find out as much information as possible they signed up and attended a “How to Run a Bed and Breakfast” course run by Karen Thorne in Shropshire in the summer of 2017.

Finding out what was involved was extremely helpful and spurred them onto fulfilling their dream.  The course helped them to focus on the location and type of B&B they wanted to run.  Following the course, they joined a Facebook group for course attendees and this gave them the opportunity to meet up with a couple who have run a B&B for a number of years near to Kingussie (the area they wanted to buy in).

The property they decided to purchase was Arden House which is a lovely Highland villa style property in the attractive and popular town of Kingussie in the foothills of the Cairngorms and Monadhliath Mountain ranges.  The property has a total of 8 bedrooms; 5 en-suite letting rooms plus owner’s accommodation.

Stewart Hindley & Partners wrote and submitted a comprehensive loan proposal to two lenders who showed interest in funding the property.  The property had been successfully traded for a number of years and even though the owners wanted to retire and move closer to family they were still trading as much as possible providing a good level of turnover and profit for the business.  This really helps to show sustainable trade and if/where there may be opportunities to improve the trade going forward.

The chosen lender was not always the quickest to respond so the case did take a little longer than hoped for but as with most things the best things are worth waiting for!  Janet and Graham have now completed on the purchase and moved into Arden House on 8 March 2018.

What Janet & Graham say…

We tried initially to secure a business mortgage for Arden House ourselves but this was unsuccessful.  Not to be deterred, we recalled how on Karen’s course she had recommended going with a broker and had suggested Steward Hindley.  Following an initial email, Mike, our broker helped us to revise our business plan and put us in touch with potential lenders.  As we were new to the whole process of purchasing a B&B, the help and support given by Mike was invaluable and we managed to secure funding.  We believe that without Stewart Hindley we would never have secured the funding we needed and can’t thank Mike enough.  It still feels unreal that we now actually own Arden House and have given up the 9-5.

http://www.arden-house.info/

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Beaufort House – Loch Ness Views

Glenn and Samantha came to us originally to purchase a different B&B in the region of Lochinver but they were unable to come to an agreement with the vendor so they looked for another opportunity and widened their search area.

Fort Augustus is a lovely small town more or less half way between Fort William and Inverness and is where Loch Ness, the Caledonian Canal and the River Oich meet.  It is a popular place for tourists to watch the many boats go through the canal locks as well as visiting local film locations.  The Great Glen Way passes through the town which makes it a popular destination for walkers.  A property that used to trade as a B&B but was now closed was on the market and was the ideal property for Glenn and Samantha with great views across the town and Loch.  After viewing the property, they could see the potential and spoke to us about a projection led debt application.

It is always easier to secure debt on a trading concern but due to the location and condition of this property it was definitely worth pursuing.  We spoke to some lenders to gauge their interest and found one who was fully supportive so it was full steam ahead with the application.

Glenn and Samantha were new to trade but were fully committed to their new change of lifestyle.  As Stewart Hindley & Partners are specialists in new to trade operators we were able to present a comprehensive application to the lender which we are glad to say was successful.

The only hiccup in the process was the fact that the property did not appear to be registered with the local council as a commercial property (something to bear in mind when looking at commercial property!), this was raised in the commercial valuation report and needed to be addressed by Glenn and Samantha.  Change of use was applied for and they completed on their purchase at the end of September.

Since completion Glenn and Samantha have worked hard refurbishing the rooms and now provide comfortable, modern accommodation for their guests.  Beaufort House is now open for business and is ready to welcome you.

www.beauforthouse.co.uk

What Glenn & Samantha say..

Making the decision to give up the regular ‘9 to 5’ life in Leicestershire was the fun part – starting to wade through the extensive information and processes to make buying a B&B a reality; not so fun!

Thankfully we discovered Stewart Hindley & Partners and from there on the journey was, quite honestly, a very positive and confident one. There are few organisations who successfully combine high professional standards with sincere empathy and personality – we experienced both working with Chris and Carol; both of whom were always at the end of the phone any time to advise us, answer any questions and guide us through this process.

If you are planning to go down the route of purchasing a B&B we absolutely recommend Stewart Hindley & Partners all the way – you can’t go wrong with them! 

Samantha & Glenn

Beaufort House Bed & Breakfast, Fort Augustus

cruachan lodge 2

NC500 Bed & Breakfast

Edwin & Irma had many holidays in Scotland and when they decided to change their lives they chose to move from their home in the Netherlands to Stoer on the North West Coast of Scotland.

It was a big decision for them to make and they wanted to know they were making the right choice so they did a lot of local research on the area and trade in and around The Highlands and eventually found their dream property in Cruachan Lodge in Stoer, which sits directly on the fantastic North Coast 500 route and close to the town of Lochinver.

Whilst all this was happening they were also looking at their finance options and came to the conclusion that they would need help from an experienced broker.  They chose us here at Stewart Hindley & Partners to work with them and to source the best deal available for their circumstances.

We worked with Edwin & Irma for a few months looking at various property details and their accounts and gave them an unbiased opinion on their finance options.  There were lots of emails back and forth and Edwin & Irma came over to Scotland in November 2017 and viewed a number of properties, eventually deciding on Cruachan Lodge which was a former manse and had a good historical trading history.

Once their offer was accepted on Cruachan Lodge we worked with both them and the vendors to get the deal done.  Due to Edwin & Irma’s location in The Netherlands the initial bank meeting was carried out using teleconferencing which enabled the bank to carry out their due diligence and submit the case to their credit team.  The deal was eventually approved (subject to valuation) and a commercial valuation was undertaken.  There were some details which needed to be addressed post valuation and having agreed the details completion was set for 1 March 2018.

Edwin & Irma have now moved into their new home and are looking forward to welcoming guests from Easter 2018.

Cruachan Lodge has been re-named to The Green Cruachan which reflects Edwin and Irma’s commitment to green, sustainable living.  They are offering a warm welcome, comfortable luxury accommodation and a healthy vegetarian breakfast to their guests and are looking forward to welcoming  guests.

What Edwin & Irma say:

“We would like to thank Stewart, Hindley & Partners, and especially Carol for all their time, the nice telephone calls, emails. They always gave us a quick reply if we had questions, they helped us with all the figures of the B&B’s we were looking at. It was lovely and supporting to have Carol with us during our call with the RBS, all the advice, their ideas about the properties. We felt that Stewart, Hindley & Partners were there for us, for our best interest. We really felt supported and loved.  The way of contact was Professional and personal.”

https://www.thegreencruachanstoer.com/