Category Archives: Case Studies

Isles of Scilly Bed & Breakfast

The dream – A Bed and Breakfast on The Isles of Scilly – it came true!

Kelly and Kevin had a dream of owning their own bed and breakfast in the Isle of Scilly and weren’t sure it would be a possibility. They knew the town of St Mary’s well and when they found their perfect property there they couldn’t believe their luck.  They contacted us to see what they could borrow and if it was possible for them to sell up on mainland UK and move over.  Well, they have done it with the help of us here at Stewart Hindley & Partners!

The first step was for Kelly to send us the property details and accounts for the business they wanted to buy and we then helped them by assessing how fundable the deal would be.

Crebinick House was a traditional Grade II listed building which had been extended at the rear to provide a large 9 bedrooms property consisting of 6 spacious guest rooms and 3 bedroomed owners’ accommodation.  The guest house was well established and had a number of returning guests as well as excellent online reviews.

The only downside was that there had not been a focus on trade for a couple of years due to the current owners’ ill health and pending retirement. This meant the deal would be reliant on projections which always makes the deal a bit more of a challenge.  Lenders tend to look at projection led deals as more high risk and are slightly more reluctant to lend on them.

Because Stewart Hindley & Partners specialise in the hospitality sector we understand what are standard and achievable costs for a bed and breakfast or guest house.  We are able to provide lenders with realistic projections which show that the business is capable of building the trade and, importantly, can cover the debt service going forward.

We submitted the deal and after a bank meeting and acceptable valuation report the deal was offered.  Kelly and Kevin completed their purchase and started living the dream in February 2019.

There is a lot going on in the Isles of Scilly so if you are visiting why not stay at Crebinick House where you are assured of a warm welcome.

https://www.crebinick.co.uk

What Kelly and Kevin say about us…..

We fell in love with Crebinick at first sight and desperately wanted to make it our home and business.  After a depressing conversation with a business manager at a local bank, due to the previous few years’ deliberately low trading figures, it seemed we would need professional help to persuade a lender of the potential of the business in order to get our dream off the ground.  Stewart Hindley had a great reputation for assisting in situations such as ours and from our first conversation with Chris we were filled with hope that a lender might believe in Crebinick as we did.  Chris’ experience ensured that he approached the right lender for us with the right information and ultimately we were successful in getting the finance we needed.  We don’t think we could have managed it without Stewart Hindley or, at least, certainly not in time to begin the 2019 season as we have done!  Thanks for all your help.  

Kelly & Kevin

Crebinick

Love Whisky? You will love The Gables B&B

Bed & Breakfast for the Whisky Lover!

Our clients Siebette and Anne-Jan contacted us in May 2018 to ask about hospitality finance as they were looking at moving from Holland to Scotland to fulfill their dream of owning and operating a whisky themed bed and breakfast.  Both of them have an in depth knowledge of the Whisky industry and have their own impressive collection from which they offer tasting sessions!

After much searching they found The Gables in Dufftown a perfect location as it is on the famous Whisky Trail.  The Gables was an established bed and breakfast but was traded very much to suit the owners so there was no focused effort on the trade which meant limited accounts and made the deal just that little bit more challenging.  We were able to position the deal showing realistic and achievable projections for when Siebette and Anne-Jan took over.

The process of the loan application went through fairly seamlessly, however, there were some issues during the legal work stage and these have caused some major delays.  The loan was offered in September and instead of being able to complete and move in at the beginning of December, which would have timed well with their house sale and move from The Netherlands, they have had to wait until February 2019 for the legal paperwork to be sorted out.  This obviously caused some major stress not least because they were moving country as well (as home) and they were also ready to go with a new website and links to the distilleries in the area – it seemed it was all systems go!  It was a very frustrating time.  Stewart Hindley & Partners tried to assist them by continuing to engage with the lender and suggesting ways that things could move forward.  Eventually the dream came true and they became the owners of The Gables on 30 April 2019!

To cut a long story short, they are now trading well and offer their guests themed packages such as:-

  • Whisky & Chocolate
  • Whisky & Cigars
  • Whisky & Cheese
  • Don’t Drink & Drive Whisky Tours

In addition to the Whisky there are a host of other things to do in the area, Walking, Skiing, Fishing and Golf to name a few.  Why not visit their website to find out more….

https://www.thegablesbb.co.uk/

https://www.facebook.com/thegableswhiskybb/

What Siebette and Anne Jan say about Stewart Hindley & Partners…

It has been our dream for years to run a whisky themed B&B in Speyside/Moray. All though we did a lot of research ourselves and developed the outline of a business plan, it was difficult for us – being Dutch and without experience in starting a hospitality business – to come up with the necessary figures and obtain funding. We almost give up on our dream when we heard of Stewart Hindley and contacted them. They reviewed our ideas and financial situation and advised our dream was possible. They helped us with our business plan and knew which lenders to approach. They supported us at every step in the process, both with their extensive expertise and – equally important – mental support. We could trouble them with any question we had, answers were always provided quickly and in a way we exactly understood what was going on. After obtaining the commercial mortgage there were problems in the conveyancing of the property we had set our eyes on. All though beyond the scope of their service Stewart Hindley kept in touch with us and relevant parties, they did everything they could to help us to get this sorted. And in the end, all came right and we are now the proud owners of The Gables Whisky B&B. Carol, thank you so much for everything, we could not have realised our dream without you!

Kind regards,

Anne Jan & Siebette

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!

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/

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

 

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.

www.cambridgebedandbreakfast.co.uk

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! 

How to Improve Your Hotel

Hotels are at the forefront of the hospitality trade, so you’ll need to maintain a dynamic approach to improve, or even just retain, your market position.

And while that’s rarely an easy ask in a sector where running a hotel means long hours are so often the norm, there are still a number of things you can do to make your hotel more effective and efficient.

For your guests, that means increased amenities and enhancing their overall experience, and for you, that means increased profitability.

So, what might be done to introduce a welcome breath of fresh air to raise the profile of your business?

Consider expansion

You can approach this in a variety of ways. If you know there is a new market you could accommodate, then adding to your facilities will increase your bookings and revenues.

While there will be some additional costs, these are always less for an established business, and some elements (e.g. marketing) can remain more or less the same by changing rather than increasing your strategy.

If that kind of expansion won’t work for you, consider enhancing your current provision. This might mean refreshing and expanding your menus for example, or even ringing the changes by inviting in a pop-up restaurant.

Whatever you do, make sure your dining facilities go well beyond the practical and functional. Modern expectations now dictate that your visitors will usually be looking for a memorable experience to enrich their stay, not just a basic provision that you could simply have at home.

Whatever you plan to try, remember this is also your opportunity to move with the times and reflect the latest trends. That in turn will also impress your guests, which should always be your main focus.

Renovate your facilities 

If you do nothing more, then giving everything a fresh coat of paint will send a message to your guests that you want nothing but the best for them.

Your refurbishments could also stretch to include new mattresses or upgrading your bathrooms. There’s nothing better to improve your visitor’s experience than offering some extra comfort and luxury.

A modern and stylish bathroom with a sumptuous, spa-like feel could be just the thing to get your guests talking, recommending and then re-booking.

Listen to your customers 

You won’t need reminding how important cleanliness is, but it’s your guests who make the judgements.

So take note of all feedback – positive or negative – to gauge how well your facilities are working, and to address any shortcomings before they become a recurring issue affecting your bookings.

Social media is a well-established marketing tool in the hospitality sector, so make sure you are the first to know what your guests have to say about their stay at your hotel.

And likewise, if you can do anything to make your guests feel that your hotel gives them special attention and added value, that will also reflect in social media recommendations and increased business.

Social media also offers the chance to keep an eye on what your local rivals are doing to attract business. So, if you keep tabs on them, you’ll get to hear about new initiatives early, which will then give you time to respond as necessary!

Campaigns and events 

Your hotel is a great space for events, so use this to your full advantage.

In particular, it can be used to strengthen your links with the local community – an important consideration for most hoteliers dealing with a seasonal trade.

Advertise the fact that you are happy to host birthdays, weddings, christenings and everything in between. Consider customer-friendly discounted rates for large group bookings, and even develop your own entertainment and themed nights to help market your facilities to your local clientele, thus sending out the message that you are not there for the tourists alone.

Whatever your budget, there are always ways to develop and improve your hotel.

And the best way is usually to create an improvement plan. This will ensure that you are always looking forward, keeping your focus firmly on enhancing your visitors’ experience, and getting the best possible return on your investment.

 

By Jo Thornley, Head of Brand and Partnerships at Dynamis.

Joining in 2005 to co-ordinate PR and communications and produce editorial across all business brands. She earned her spurs managing the communications strategy and now creates and develops partnerships between BusinessesForSale.com, FranchiseSales.com and PropertySales.com and likeminded companies.

 

How a B&B Commercial Mortgage makes good financial sense for your B&B business

With New Year around the corner, many of us start to think about what we want out of the year ahead.

The prospect of being your own boss and running a lifestyle business from home definitely has its appeal and a B&B Commercial Mortgage can help you to make that dream a reality.

New Year offers a new start, a chance to take the first step towards achieving those dreams and creating the life that you want. Whether you’re looking for freedom from office politics, or whether you’ve always dreamed about being the hostess with the mostess and creating a welcoming environment in your home for tourists and holiday makers, or whether you just want another income stream, a B&B could be exactly what you are looking for to take control of your own lifestyle and work from home.

One of the first things you’ll need to consider is B&B Commercial Mortgage finance. You’ll need capital to invest, but it’s likely that beyond a deposit, you’ll need B&B finance to bridge the gap.

Why B&B Finance?

If you’ve already got a mortgage on your existing home and you’re planning to borrow against it, you may want to reconsider. Using a standard residential home mortgage can lead to your mortgage debt being called in early if you are making an income from letting rooms in your property.

If your mortgage debt is called in early, you’re then faced with a challenge – either find alternative B&B Finance at VERY short notice or lose your home and your livelihood.

Other reasons you might need B&B Finance

Perhaps you already have a B&B that you don’t feel fulfills its potential. Sometimes a small cash injection is just what you need to be able to create the business you want, or to open up new opportunities with what you have.

Often a B&B Commercial Mortgage provider will take into consideration your plans for the business, delivering greater potential benefits at a lower rate than a standard credit card or bank loan might do.

Stewart Hindley & Partners are hospitality finance specialists that can help you find the hospitality finance you need to build the business you’ve always wanted. For more information on how you could benefit from hospitality finance, or to find out how you could raise finance for your hospitality business, contact Stewart Hindley & Partners on 01488 393049.

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 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/