Black & White Bridging funds purchase of historic Norfolk country pub
Specialist lender Black & White Bridging has provided a £ 244,000 bespoke bridging facility to support the purchase of a Grade II listed country pub in Swanton Morley, Norfolk, helping a husband-and-wife team bring the historic venue back to life.
Dating back to as early as 1610, the traditional English pub will be purchased by Robert and Katie, who plan to carry out minor refurbishments before reopening its doors. The couple also intends to let the upper floors to third parties, creating an additional income stream and maximising the potential of the historic building.
The £ 244,000 facility was structured using a first-charge commercial bridge secured against the pub, alongside a second-charge residential bridge. By combining security across the two properties, Black & White was able to provide a tailored funding solution to support the acquisition.
The loan was introduced to Matt Yates, Relationship Director at Black & White Bridging, by broker Aaron Blackwell.
Matt Yates said:“ Pubs face significant challenges in today’ s economic climate, with rising costs putting pressure on businesses across the sector. We’ re proud to support borrowers who are investing in their businesses and helping to keep important parts of local communities alive.
“ This deal is a great example of how specialist bridging finance can provide a practical solution when a transaction requires a more flexible approach. We’ re delighted to be supporting Robert and Katie with their plans to restore and reopen this historic country pub in Swanton Morley.”
“ The specialist structure provided the flexibility Robert and Katie needed to move forward with the purchase. It’ s fantastic to help bring such a historic pub back into operation. It’ s a lovely building with real character and an important place in the local community, and we’ re looking forward to seeing the couple’ s plans come to fruition.”
The deal highlights Black & White Bridging’ s ability to structure bespoke funding solutions around borrowers’ individual circumstances, combining different forms of property security to help clients pursue their ambitions.
Broker Aaron Blackwell said:“ Businesses need lenders who are prepared to back them, and that’ s exactly what Black & White has done with this facility.
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