Purchase of a public house
The stats
The deal
Our client was able to purchase the freehold of public house that they were currently leasing due to the owner unfortunately going into receivership. They had a large deposit but needed certainty of funding for the remaining balance.
The challenge
The property, a public house with several rooms, that was not able to open at the time of drawdown and had a several title issues including an issue with the access. Multiple legal issues sprung up throughout the process, however, FBSE and their solicitors worked through each of them, forging a way forward to get the deal completed.
The outcome
FBSE was able to fund the client despite the legal issues that arose and the broker, Richard Gunson from RJG Plimsoll ltd, said:
FBSE Finance stepped in to support a client of ours that was looking to purchase from a receiver the freehold of a pub they had been running as a tenant. There were several legal points raised and FBSE did what I know they always do, and that is look at the problem and see what can be done to get the deal over the line. This “can do” attitude sets FBSE apart from a lot of lenders and when I have a client that really needs certainty of funding FBSE are always on my short list.