ASC Success Story
Guest House gets the go-ahead
Garry Lowen and Penny Jones decided that a Guesthouse was an opportunity to utilise their skills in a joint project. After a false start they decided to look for an alternative business after an initial request to their bank for finance proved unsuccessful.
Earlier this year they came across The Gleneagles Hotel (though operating as a Guest House) www.thegleneagleshotel.co.uk in Southend-on-Sea. After discussing the details with Stephen Colley from ASC they felt this project seemed to make much more financial sense. The Clients therefore decided to go ahead with the purchase and instructed ASC to arrange the necessary finance as they felt the skill and experience that Stephen had in Commercial property transactions would prove successful and less stressful for themselves. Stephen was quickly in touch with his trusted panel of lenders and was able to get prospective deals available for the Clients in a fairly short time frame for a loan of £477,000.
Stephen commented that “this was a challenging case but with our experience of the market and our close relationships with Lenders we were able to overcome the various hurdles and ended up with a satisfied client. We formed a good working relationship with Garry and Penny and feel sure they will be a great hit with their customers”.
Garry and Penny explained “we would not have been able to realise our dream had it not been for the skill and determination of Stephen. He supported us all through the deal at all times and kept a positive view, offering help and advice on how to overcome the barriers we were facing”.
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