Commercial Mortgages for the Leisure and Hospitality Industry
Requirements for New Business Start-ups
For new business start-ups the potential mortgage lender will expect to see a comprehensive business plan and projection of first years trading from the applicants. Below are some considerations to include in a business plan for purchase of a restaurant or licenced retail premises.
- Who will run the business
- Where will your business come from
- Who is your target market
- Where & how will you advertise
- Will you need additional staff
- Does the property meet health and safety standards
- Marketing plan
- Strengths and weakness considerations
- Your business background
About the Sector
The hospitality and leisure industry embraces a wide range of businesses from hotels, pubs and restaurants, to travel, tourism, sport, leisure centres and gaming.
- Guesthouses and B&B’s
- Pubs & Restaurants
- Holiday Parks
- Caravan & Camping Sites
- Self Catering Accommodation
- Golf Clubs & Courses
- Visitor Attractions
- Sporting Facilities
Summary of Details Required in a Full Application
- What does the purchase price, or value include?
- Address of the property
- Trading accounts for last 3 years (if buying an existing business)
- Tenure of the property: Leasehold or Freehold
- Projection of your first year’s trading
- Professional CV to show any experience in the trade
Commercial Mortgages for Hospitality & Leisure Industry
- Restructure existing borrowings
- Purchase of additional property
- Expanding your existing business
- Finance to refurbish, or extend and existing property
- Raising capital to purchase adjacent land or property
If you’re looking to purchase a property for one of the above uses, or you are looking to convert property you already own, an commercial mortgage can provide you with the finance you need.
Commercial mortgages can also be used to raise capital and restructure your existing borrowing, or improve existing facilities.